FinTech News
FinTech News
Robinhood To Acquire Bitstamp for $200 Million
Robinhood is set to expand its crypto platform with its latest purchase. About the acquisition: Last week, Robinhood announced plans to acquire Bitstamp. The deal is valued at approximately $200 million, but is subject to customary adjustments. The all-cash transaction is expected to close in the first half of next year. According to Robinhood, the acquisition will introduce its first institutional business as Bitstamp is "trusted by its institutional clients...
FinTech News
Robinhood Introduces Lowered Margin Interest Rates
The popular investing platform Robinhood has announced new margin rates as it looks to attract advanced traders. About the changes: Robinhood is rolling out new, lowered margin rates. Now, the rates that customers pay will vary by their total margin balance, with these rates ranging from 5.7% to 6.75%. These tiers breakdown like this: Up to $50k: 6.75% $50k to $100k: 6.55% $100k to $1 million: 6.25% $1 million and...
FinTech News
Robinhood Receives Wells Notice From SEC Regarding Crypto
The FinTech brokerage firm Robinhood has announced that it's received a Wells Notice from the Securities and Exchange Commission regarding its cryptocurrency features. About the notice and Robinhood's response: In a filing, Robinhood revealed that the SEC has notified the company that it will recommend that the agency file an enforcement action, alleging securities violations. Furthermore, they note that these potential actions could involve a civil injunctive action, public administrative...
Investing
How to Transfer a Retirement Account to Robinhood Retirement
Earlier this month, as I prepared for my tax-time IRA contributions, I learned two things about my IRA situation. First, I discovered that one Traditional IRA I had changed my investments due to the discontinuation of one of its fund options. Second, I found out that Robinhood Retirement was offering a bonus for Robinhood Gold customers who transferred their IRAs to the platform. Needless to say, this provided to perfect...
FinTech News
Robinhood Reveals New Credit Card, Reimagined Flagship App
During its "New Gold Standard" keynote event, Robinhood made some major announcements, including the launch of a new credit card. About the Robinhood Gold Card: The headlining announcement was the reveal of the new Robinhood Gold Card. In a bit that paid homage to Steve Jobs' iconic iPhone announcement, Robinhood co-founder and CEO Vlad Tenev teased plans to release three different cards (a starter card, an everyday card, and a...
FinTech News
"Robinhood Retirement For Independent Workers" Announced
Robinhood is bringing its Robinhood Retirement account to gig workers as part of a new program. About the program: This week, Robinhood announced the launch of Robinhood Retirement for Independent Workers. Under this program, gig workers and other independent contractors will not only be able to open an IRA with Robinhood but also receive financial counseling via GreenPath Financial Wellness. This includes unlimited access to a dedicated hotline, allowing workers...
FinTech News
