Robinhood Shareholders Question About Crypto Wallets

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Robinhood Markets Inc releases its financial results this week and shareholders are wondering when the cryptocurrency wallets will arrive and whether they will receive branded hoodies, Say Technologies said.

Robinhood, which stated that it had reserved up to 35% of its shares for its users when it debuted on July 29, said last week that it was acquiring Say, a platform that crowdsourced questions from private investors and enables them to interact with companies they invest in at events such as earnings calls.

With 1.6 thousand votes, the most important question for Robinhood on Tuesday was whether the broker would get a crypto wallet that would allow users to withdraw cryptocurrencies and transfer them to and from other brokers.

Cryptocurrency trading has become a significant part of Robinhood’s recent revenue growth, with more than 9.5 million customers trading about $88 billion in cryptocurrencies on the platform in the first quarter, according to the most recent regulatory filing. Crypto assets have soared between March 31, 2020, and the end of the first quarter of this year, according to the filing.

The next top question was on Robinhood’s plans to launch the app in other countries, while the third asked if the company would allow users to include beneficiaries or adopt new features such as multiple accounts and joint accounts.

The company is expected to report revenue of between $546 million and $574 million for the three months to June 30, compared with $244 million a year earlier, according to its most recent filing.

For more information, read the original story from Reuters.

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