Online Broker Robinhood Invests Over $3 Billion in Bitcoin

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According to Arkham Intelligence, the Robinhood Bitcoin wallet is the third largest holder of cryptocurrency, with a total stored value of more than $3 billion.

This amount places the wallet behind only Binance and Bitfinex exchanges, which hold $6.4 billion and $4.3 billion respectively.

During the second quarter, Robinhood’s revenue from digital asset transactions decreased by 18% as 118,300 BTC were transferred from several crypto wallets to their address.

The digital currency is now stored on the Jump Trading platform.

Unfortunately, the company’s total revenue decreased by 4% over the past year to $193 million.

In July, Robinhood ceased operations with Solana (SOL), Cardano (ADA) and Polygon (MATIC) altcoins due to an unfavorable ruling from the Securities and Exchange Commission (SEC).

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.