Q2 @RobinhoodApp shipping report incoming... We’ve been listening, and busy building. (1/10)
Let’s start with crypto. Our European customers can now earn staking rewards on their SOL holdings, with the flexibility to unstake at any time. And, we translated our app into Polish, Italian, and Lithuanian. More to come 🌍 (2/10)
DeFi is the future, and so is Robinhood Wallet. Now you can easily access cross-chain swaps with Robinhood Wallet, sending crypto between Ethereum and top Layer 2 networks in just a few taps (3/10)
The SEC has proposed a new “predictive data analytics” (PDA) rule that would severely curb financial services firms from using technology to serve customers. @RobinhoodApp has voiced opposition, and I strongly stand behind it. This would have a major impact on investors. (1/7)
The SEC aims to protect investors with this rule, targeting "predictive data analytics" and AI. However, the rule is so broad, it would demand costly manual reviews on almost all tech applications, even basic things like color choices in app design and simple A/B testing. (2/7)
The SEC admitted that the rule would be so difficult and costly to comply with, maybe even impossible, that firms might be forced to stop using technology to serve customers altogether. (3/7)
Despite SBF having an equity stake in Robinhood, we have no direct exposure to Alameda, FTX, or any of its entities, and we've confirmed with our partners that they don't have material exposure either.
In the past few days, we've been seeing elevated trading volumes and elevated crypto inflows. In particular, the last couple of days have been our two biggest days of crypto inflows ever.
Can #Doge truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take.
First off, transaction fees have to be vanishingly small. We’re already there. As of last Nov’s 1.14.5 update, typical transaction fees have been ~$0.003 - which you can experience on @robinhoodapp - compared to the 1-3% network fees that major card networks charge.
Ideally, the block time (time between successive blocks being added to the chain and to verify a transaction) should be fast enough that the transaction can be recorded in the next block in less time than it takes to pay at a point of sale terminal.
The future of investing is 24/7. @RobinhoodApp is working towards offering 24/7 equities trading, and today, we’re taking a step towards that goal. (1/9)
Robinhood brought millions of new investors into the markets by eliminating trading commissions and account minimums, and by popularizing fractional shares, which made companies with high share prices accessible to all. (2/9)
But despite abundant international demand and advancements in technology, market hours are still tied to the working hours of East Coast Americans. (3/9)
Today, as @RobinhoodApp goes public on @Nasdaq, we celebrate a new generation of investors that make Robinhood what it is.
When I was five years old I came to this country from Bulgaria, arriving at JFK airport. My co-founder Baiju’s parents were also immigrants, arriving in America from India shortly before he was born.
Our families came from humble beginnings — they came to America with barely any money hoping to give their children the opportunity for a better life. It’s a testament to the mobility afforded by the American financial system that we stand here today.