Alphabet Offloads 90% of Its Robinhood Shares as Exchange’s Crypto Revenues Slide

2023-8-6 21:00

Google’s parent company Alphabet has dumped 90% of its shares in Robinhood, a recent regulatory filing reveals.

Perhaps unfortunately for the Big Tech firm, the sale of $6,109,896 in Robinhood stock occurred just as the digital exchange company reported its first profitable quarter since going public.

Alphabet Dumps Robinhood and Other Household Digital Brands

According to the recent filing with the US Securities and Exchange Commission (SEC), Alphabet has nearly entirely divested itself from Robinhood. But the digital exchange operator isn’t the only well-known digital brand that Alphabet has reduced its position in.

The SEC filing also reports that the company sold $35,502,698 worth of shares in the ride-sharing firm Lyft. As reported by CNBC, the tech giant has also sold a significant amount of shares in Duolingo and 23andMe.

Read More: 9 Best Crypto and Forex Trading Platforms in 2023

Alphabet invested in all four businesses before they were listed publicly. But for maximum profit, it would have paid off to wait just a little longer.

Robinhood Stock Price { "symbols": [ [ "NASDAQ:HOOD|1D" ] ], "chartOnly": false, "width": 1000, "height": 500, "locale": "in", "colorTheme": "light", "autosize": false, "showVolume": false, "showMA": false, "hideDateRanges": false, "hideMarketStatus": false, "hideSymbolLogo": false, "scalePosition": "right", "scaleMode": "Normal", "fontFamily": "-apple-system, BlinkMacSystemFont, Trebuchet MS, Roboto, Ubuntu, sans-serif", "fontSize": "10", "noTimeScale": false, "valuesTracking": "1", "changeMode": "price-and-percent", "chartType": "area", "maLineColor": "#2962FF", "maLineWidth": 1, "maLength": 9, "lineWidth": 2, "lineType": 0, "dateRanges": [ "1d|1", "1m|30", "3m|60", "12m|1D", "60m|1W", "all|1M" ] }

The SEC filing reports that Alphabet’s Robinhood selloff occurred in the period up to June 30. But the exchange’s share price increased notably in July. And on August 3. The company reported revenues of $486 million, marking its first profitable quarter since its Initial Public Offering (IPO).

Robinhood Crypto Business Shrinks

Despite reporting 10% quarterly revenue growth, Robinhood’s earnings from its cryptocurrency trading platform decreased by 18% to $31 million.

One worrying trend for Robinhood is that monthly active users have declined across its exchange services. Standing at, 10.8 million in Q2 2023, the figure represents a loss of one million users since the previous quarter. Compared to Q2 2022, the platform’s monthly user count is down 3.2 million.

Read More: 9 Best AI Crypto Trading Bots to Maximize Your Profits

The post Alphabet Offloads 90% of Its Robinhood Shares as Exchange’s Crypto Revenues Slide appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

KuCoin Shares (KCS) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $9.9109
Капитализация $0 Rank 99999
Цена в час новости $ 5.5824 (-100%)

shares exchange alphabet robinhood crypto offloads revenues

Источник: beincrypto.com

shares exchange → Результатов: 126


BNB Market Cap Down By 25% In June Amidst Binance Regulatory Pressure

BNB, a native token of the Binance exchange, has seen a massive decline in its market shares following the global regulatory pressure on the trading platform.   Binance began experiencing regulatory troubles on June 5, when the United States Securities and Exchange Commission (SEC) filed a lawsuit against the exchange on the allegations of fraud and offering of unregistered securities, among others, and this has affected the performance of the cryptocurrency.

2023-6-29 00:00


First leveraged Bitcoin futures ETF opens for trading on CBOE

The Volatility Shares 2x Bitcoin Strategy ETF (BITX) opened for trading on the Chicago Board Options Exchange (CBOE) on June 27. Chang Kim, COO at Volatility Shares, said: “There’s a big audience that’s already out there for leveraged-type products, and to sort of marry that with the intrinsic interest that there is in all things […] The post First leveraged Bitcoin futures ETF opens for trading on CBOE appeared first on CryptoSlate.

2023-6-28 18:59


Valkyrie Investments throws its hat in the ring for a spot Bitcoin ETF, joining BlackRock, Invesco, WisdomTree, and Bitwise

Valkyrie Investments has filed for a spot Bitcoin ETF with the U. S. Securities and Exchange Commission (SEC), according to a June 21 filing. That filing describes the proposed investment as an exchange-traded fund (ETF) that allows investors to purchase shares of a trust containing Bitcoin.

2023-6-22 23:37


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Robinhood Will Likely Win in SEC Legal Battle: KBW Report

KBW believes Robinhood will likely succeed in a legal challenge against the SEC, emphasizing its prudent approach to cryptocurrency listings and the limited number of digital assets it supports. The post Robinhood Will Likely Win in SEC Legal Battle: KBW Report appeared first on BeInCrypto.