Robinhood holds roughly $266 million value of Shiba Inu (SHIB) after itemizing the token in 2022
Coinbase director Conor Grogan claims that widespread on-line brokerage Robinhood holds $266 million value of Shiba Inu (SHIB) tokens.
All in all, Robinhood holds $3.37 billion value of property on Ethereum Digital Machine (EVM) chains.
Apparently sufficient, Grogan claims that roughly 15% of all tagged Robinhood person withdrawals went to a playing web site.
As reported by U.Today, the SHIB token was listed on Robinhood again in April 2022.
Earlier this month, the corporate announced that its Web3 pockets would add assist for SHIB in addition to such cash Solana (SOL), Polygon (MATIC), and Compound (COMP).
Based again in 2013, Robinhood permits people to purchase and promote shares, choices, and ETFs with no fee charges. The platform gained a repute for being user-friendly and accessible to a variety of traders, together with those that are new to the inventory market.
Along with conventional investments, Robinhood additionally began providing buying and selling in cryptocurrencies again in early 2018. Customers had been initially capable of purchase a small set of cryptocurrencies that included Bitcoin, Ethereum, Litecoin, and Dogecoin.
Robinhood dramatically expanded the checklist of accessible cryptocurrency buying and selling choices in 2021 with the likes of SHIB, SOL, and Cardano (ADA).
Total, Robinhood has managed to disrupt the normal brokerage business by making it a lot simpler and extra reasonably priced for the common Joe to entry the inventory market. Nonetheless, the platform has confronted controversy and criticism for its questionable enterprise practices.