Robinhood CEO Vlad Tenev never goes out of the limelight. Recently, one media person questioned him about the much debated meme coin Shiba Inu. To this, Tenev replied that the famous zero-fee trading app plans to extend its cryptocurrency offering. This news comes after SHIB recently crashed more than 15%. Tenev didn’t mention SHIB by name, but he did note that the firm received various requests to expand the cryptocurrency selection, which presently stands at only seven coins. According to the CEO of Robinhood, the business is working with regulators to avoid listing unregistered securities.
Shiba Inu temporarily rose 8% earlier this month on speculation of a Robinhood listing, according to U.Today. The app’s users were thinking about the meme coin ahead of the company’s earnings call. Investors also wanted to know when the online brokerage would break even and what actions have been taken to boost shareholder value since the company’s first public offering.
Robinhood’s cryptocurrency-related transaction revenue fell 6% to $48 million in the fourth quarter of 2021, accounting for 18.18% of the company’s overall transaction-based income.
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