Robinhood listed Memecoins Pengu (Pengu), Pnut (PNUT) and Popcat (Popcat) as online brokerage companies doubled in cryptocurrency trading.
This list shows the latest efforts to expand Robinhood’s crypto products and compete with current Exchange Coinbase.
As rival exchanges took place, including Coinbase and Binance, Memecoin Trading became an important battlefield.
Robinhood has listed new Memecoins. sauce: Robin Hood
Related: Robinhood Tips Singapore launch, Memecoin Advertises Interest: Report
Strong demand
In February, Robinhood Crypto said its customers were showing strong demand for more Memecoin trading options.
In addition to the newly launched coins, Robin Hood lists Doge Coin, the largest memo coin by market capitalization. We also began trading Crypto futures in January.
“We don’t want to make decisions for our customers, but if they want something and feel there’s a way to deliver it safely, we do that,” Johann Carblatt, vice president and general manager of Robinhood Crypto, reportedly told Bloomberg.
Robinhood, best known as a stock trading platform, has invested heavily in Crypto products since last year.
In February, the online brokerage reported a 700% increase in crypto revenues compared to the previous year.
Trump’s election victory and rising market prices have driven an overall rise in crypto trading in the fourth quarter of 2024.
Changes in the Robinhood of stocks, options agreements, and crypto trading volumes. sauce: Robin Hood
Reversal of regulations
Promising to make America the “world’s crypto capital,” Trump has appointed industry-friendly leadership to a major regulatory position.
In February, the Securities and Exchange Commission said most mimecoins do not qualify as securities and therefore do not fall under regulatory jurisdiction.
This was a tough reversal from his stance under the Joe Biden administration when former SEC chairman Gary Gensler said he thought most cryptocurrencies constituted securities.
In the same month, the agency dropped enforcement action against Robinhood on suspicion of violation of the securities law tied to a crypto trading platform.
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