Robinhood IPO Plan Delays as SEC Reviewing Its Crypto Business
Fazzaco learned that Robinhood Markets, a US-based trading platform, is being delayed for its initial public offering (IPO) plan as the Securities and Exchange Commission (SEC) is deeply reviewing the company's cryptocurrency business.
According to Bloomberg, the American financial markets regulator is asking about the broker's growing cryptocurrency business.
Last month, Fazzaco reported that Robinhood is starting to launch IPO Access, a new product that will give you the opportunity to buy shares of companies at their IPO price, before trading on public exchanges. Additionally, the SEC has submitted a proposed plan for the distribution of monies paid by Robinhood to its customers who were harmed by Robinhood's false and misleading disclosures from July 1, 2016 through June 30, 2019, inclusive.
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