Coinbase Director Reports Robinhood’s Crypto Stash Soars to $23.6 Billion, Surging 14% in Half a Year
Robinhood, a prominent retail trading platform, has significantly increased its cryptocurrency holdings over the past six months. As per insights from blockchain analysis firm Arkham and Coinbase director Conor Grogan.
Grogan notes that Robinhood’s Bitcoin (BTC) stash has surged by 14%, reaching a total of $23.59 billion. However, there has been a decline in user-held Ethereum (ETH). Grogan’s analysis suggests that Robinhood’s BTC wallet ranks as the third-largest globally, trailing only behind major exchanges like Binance and Bitfinex.
Notably, Robinhood opted to forego investing in Solana (SOL) despite its substantial growth, citing concerns about its status as an unregistered security. As of now, Bitcoin is valued at $71,869.
Clever Robot News Desk 10th April 2024
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