Along with the challenging economic climate, Robinhood had issues of its own that affected their 2022 earnings.
Following a company-wide meeting Tuesday afternoon, CEO Vlad Tenev of the retail trading app Robinhood announced a 9% cut of staff.
On Thursday, online lender Enova International posted a $52 million profit on $320 million in revenue, up 57% from the same time last year. In addition, total originations increased 26% sequentially to a record $856 million. Despite the good news, the stock saw only a 4% rise before falling back toward its downward trend this month.
Gensler said his biggest worry about the equity market was competition and consolidation. While retail investing has taken off, the PFOF that enables it is ripe for conflict of interest.
Here are the most read news stories from our daily newsletter today: Deadline for the Global Covid-19 Fintech Survey is...
Making news this week was the CFPB director testifying before both the Senate and House, Fidelity will allow bitcoin in 401(k) plans, Robinhood had a bad week, the OCC is talking stablecoins, Goldman created a lending facility backed by bitcoin and more.
The news this week was led by Apple with another fintech acquisition. We also had a big funding round for Ramp and Dave is getting into crypto with FTX US.
In episode 21 I talk with Martin Sokk and Mihkel Aamer of Lightyear. Lightyear is a simple and approachable way to invest your money globally without unnecessary barriers and fees.
[Editor’s Note: This is an article by Devin Partida, the Editor-in-Chief of ReHack.com. Devin is a Fintech and crypto writer whose...
According to a regulatory filing Robinhood’s second quarter revenue came in at $180 million, nearly double the $91 million it...