Robinhood Unveils New Shiba Inu and Other Coins Feature

Shiba Inus, Bitcoin, and other readily available digital assets can now be moved in and out of the well-known trading software Robinhood by users.

Robinhood eventually added the second-largest meme cryptocurrency in early April after receiving more than 500,000 votes in a Change.org petition asking the business to integrate Shiba Inu.

Robinhood began trading cryptocurrencies in 2018 – Shiba Inu

In 2018, Robinhood began trading cryptocurrencies and added support for a number of additional coins, including Bitcoin, Dogecoin, and others.

The trading software introduced a non-custodial wallet earlier this year, enabling users to control their own cryptocurrency.

Bloomberg said last month that FTX intended to acquire Robinhood, but the cryptocurrency exchange denied the claims.

FTX was discussing internally how to buy the app-based brokerage and that Robinhood had not received a formal takeover approach, citing people with knowledge of the matter.

“There are no active M&A conversations with Robinhood,” Bankman-Fried said in an emailed statement.”We are excited about Robinhood’s business prospects and potential ways we could partner with them.”

Robinhood declined to comment. The retail-trading platform’s shares were down 5% in extended trading after jumping over 14% on the report.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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