Robinhood deepens ties with JPMorgan by using bank for money transfers ahead of expected IPO

Robinhood, the free-trading app that helped drive a surge in retail investing during the pandemic, has switched to using JPMorgan Chase to handle crucial money transfers into customers’ accounts. The start-up emailed customers this week to say that it is now using JPMorgan, the biggest U.S. bank by assets, to process transactions for cash management… Continue reading Robinhood deepens ties with JPMorgan by using bank for money transfers ahead of expected IPO

Robinhood gets rid of confetti feature amid scrutiny over gamification of investing

The free-stock trading pioneer, which is gearing up for its public debut, told the move is an effort to remove the “distraction” from its overall mission to “democratize” investing. “In the past, we used the same confetti design to celebrate firsts with customers. Those included customers’ first trades, their first steps with cash management, and… Continue reading Robinhood gets rid of confetti feature amid scrutiny over gamification of investing

GameStop Hearing Today: Roaring Kitty Along With CEOs To Appear Before Congress

ThinkGeek and GameStop stores on Broadway show signs of damage after a night of looting and and social unrest following George Floyd police brutality protests in Manhattan, Tuesday, June 2, 2020, in New York. (Photo by Evan Agostini/Invision/AP)

The “meme stock” saga that began with wild swings in the price of GameStop stock last month opens a new chapter today. The House Financial Services Committee is convening a noon hearing to hear from major players touching several facets of the story. The hearing is titled “Game Stopped? Who Wins and Loses When Short… Continue reading GameStop Hearing Today: Roaring Kitty Along With CEOs To Appear Before Congress

Here’s what to expect from Thursday’s GameStop hearing with Robinhood, Citadel and Reddit CEOs

The chiefs of Robinhood, Reddit, Citadel and Melvin Capital, are headed to Washington for Thursday’s highly anticipated GameStop hearing at the U.S. Congress. Lawmakers will get their chance to grill the CEOs, as well as the Reddit trading star known as Roaring Kitty, about last month’s GameStop trading turmoil. Robinhood CEO Vlad Tenev, Melvin Capital… Continue reading Here’s what to expect from Thursday’s GameStop hearing with Robinhood, Citadel and Reddit CEOs

Robinhood moves forward with first Super Bowl ad as brand crisis mounts

Robinhood, which has found itself in the center of controversy after restricting trading on equities including GameStop, will run its first Super Bowl ad. The ad, which will kick off what the company says is its largest ever brand campaign, features the message: “You don’t need to become an investor. You were born one.” The… Continue reading Robinhood moves forward with first Super Bowl ad as brand crisis mounts

GameStop, AMC watch, Robinhood set to restart trading

Robinhood is expected to resume trading in stocks including GameStop and AMC Entertainment, as well as Bed Bath & Beyond and BlackBerry, on Friday after pausing action due to heavy volume Thursday. The share prices spiked this week and sold off as retail investors, spurred by the online Reddit forum WallStreetBets, piled into the stocks.… Continue reading GameStop, AMC watch, Robinhood set to restart trading

Robinhood restricts crypto trading ‘due to extraordinary market conditions’

Robinhood restricted trading in cryptocurrencies on Friday, as the price of bitcoin and a meme-inspired token rose sharply. Users began reporting that the trading app had halted instant deposits for crypto purchases earlier in the day, meaning they could only buy the currencies with funds already deposited in their accounts. Such deposits can take up… Continue reading Robinhood restricts crypto trading ‘due to extraordinary market conditions’