Besides seasonality issues, Robinhood said it expects to see decreased levels of trading activity, particularly in cryptocurrencies, which accounted for 17% of revenue in the first three months of the year.
Robinhood makes its $32 billion debut on Wall Street
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“We don’t believe our customers are naive as the Massachusetts Securities Division paints them to be,” Robinhood said in a blog posting.
Massachusetts looks to bar Robinhood in state; company sues
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