Robinhood’s CEO has suggested that the exchange has no plans to list SHIBA INU any time soon.
The Shiba Inu army isn’t tired of saying ‘Hey Robinhood, when SHIB?’. The voices are only getting louder by the day, and top Robinhood executives are unable to escape interviews without answering questions about Shiba Inu. In an interview today, Vlad Tenev, CEO of Robinhood, was asked if the platform plans to add more cryptocurrencies.
On an earnings call with investors after releasing financial results for the fourth quarter of 2021, Vlad Tenev has asked whether the trading platform plans to add further cryptocurrencies — with SHIB singled out specifically. In response, he said:
“So we’ve been hearing from customers loudly. We know they want more cryptocurrencies on the platform, and we’ve actually been proactively engaging with regulators. So the main concern with adding a large number of coins is that platforms that are adding lots of them could be adding unregistered securities. So they’re watching the space closely. We’re being deliberate. We want to avoid triggering SEC registration requirements for cryptocurrencies.”
Reading among the lines, it appears SHIBA INU might not be an amazing healthy for Robinhood as regulatory scrutiny of virtual property grows.
Speaking at The Wall Street Journal’s digital CFO Network Summit closing week, Warnick stated that the business enterprise wishes greater readability at the matter.
“We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,” Warnick said.
“There aren’t compelling reasons strategically for our business to put any meaningful amount of our corporate cash into cryptocurrencies,” he said.
Announcing the results, the company added:”Robinhood has set aggressive goals to start opening its crypto platform up to customers internationally in 2022. The company believes in the immense potential of the crypto economy and sees a big opportunity in serving customers across the globe.”
Tenev added: “We have robust protocols in place. We feel very confident about the coins that we have on the platform, and we intend to add more coins going forward that we want to do it prudently.”