Big news about Robinhood, a popular app for buying and selling stocks and crypto! Robinhood had to pay a big fine because it didn't follow the rules. This wasn't about crypto directly, but it affects everyone who uses the app.
- Robinhood made mistakes with how it handles money and protects customers.
- They didn't always check if people were who they said they were when opening accounts.
- They had problems with their system for trading stocks, causing delays.
- They also didn't follow rules about ads from social media influencers.
| What Happened | Details |
|---|---|
| Fine | $29.75 million |
| Restitution to customers | $3.75 million |
| Crypto Revenue (Q4 2024) | $358 million (200% increase year-on-year) |
| Crypto Trading Volume (Q4 2024) | $71 billion (450% increase year-on-year) |
