Tag: Robinhood

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Crypto Billionaire Warns : Some Crypto Exchanges Already “Secretly Insolvent”

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the staff of the Ridgewood blog

Ridgewood NJ, Sam Bankman-Fried (SBF), the billionaire founder of FTX, believes that many third-tier exchanges are already secretly insolvent. SBF has been issuing cash infusions to save crypto companies from collapsing. The lack of regulations around crypto exchanges has made many exchanges vulnerable to scammers and hacks. FTX remains profitable and has been so for the past 10 quarters. SBF is not worried about Tether, saying that there is no evidence to support the bearish views around the stablecoin.

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Welcome to Sherwood : Online Brokerage Robinhood IPO Comes in a little Flat

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the staff of the Ridgewood blog

Ridgewood NJ, online brokerage Robinhood has been one of the big financial stories of 2021, with its starring role in a fable called “waves of day traders made life uncomfortable for Wall Street shorts”, yea right.  On Thursday though, it was time for the trading platform to feel the squeeze. Its shares ,under ticker HOOD dropped below its initial public offering price in its trading debut, arguably an embarrassment for a company that’s become synonymous with the rise of individual investors. Robinhood slid as much as 12% before climbing back closer to, but still below the IPO price in its $2.1 billion offering.

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Robinhood intends to go public on Thursday, Even as it is being widely investigated over its role in January’s GameStop bonanza

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the staff of the Ridgewood blog

Washington DC, Robinhood says it is being widely investigated over its role in January’s GameStop bonanza; is subject to at least 49 class action lawsuits. Robinhood still intends to go public on Thursday. The company is subject to at least 49 class-action lawsuits over its restriction of the purchase of GameStop stock in January. It is under investigation by a series of regulators, state attorneys general, the SEC, and the US Department of Justice. The company’s CEO had his cell phone seized by federal attorneys. Robinhood acknowledges that the fallout from its restrictions has the potential to be disastrous for the company.

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Robinhood to offer IPO shares to Retail Traders

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the staff of the Ridgewood blog

Ridgewood NJ, Amateur investors will soon have access to initial public offering shares through Robinhood. Retail traders usually have to wait until companies are listed on an exchange to begin trading. An IPO, or initial public offering, refers to the process a private company participates in as it offers shares of stock to investors for the first time. When a company goes through an IPO, we often say it is “going public.”

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