It was the steepest one-day decline since July 2021.
The share price of NASDAQ-listed zero-free trading app Robinhood (ticker:HOOD) fell 19% on Tuesday after information that Binance, one of the leading cryptocurrency exchanges, agreed to acquire FTX, a crypto platform owned by, a soon-to-be former billionaire, Sam Bankman-Fried.
The sharp price drop occurs amid concerns that the cryptocurrency mogul, who bought a 7.6% stake in Robinhood in May 2022, will have to sell at least some of it to solve his company's current crisis. This week, the liquidity of the FTX exchange collapsed as investors rushed to withdraw their funds following worrying news about the financial balance sheet of Alameda Research, the other cryptocurrency firm owned by Bankman-Fried.
The FTX CEO currently holds 56,273,469 shares in HOOD. Tuesday's steep decline brought the price from $11.72 to $9.74, which is the lowest price it has been in more than two weeks. For the company, it was the steepest one-day decline since August 2021. The whole of 2022 has definitely not been a successful year for Robinhood as year-to-date (YTD) shares have lost 45%.
Robinhood shares fell sharply during Wednesday's session.
Robinhood debuted on the stock market in July 2021, selling for $38 per share and raising $2 billion from investors. The company rose for only a short while, reaching a record price of $85 a few days after the initial public offering (IPO), and has been in a clear downward trend ever since.
Losses and Workforce Cuts
The major US commission-free stock trading and investing app reported a quarterly net loss of $175 million last week. While the total net revenue increased by 14% to $361 million compared to the previous quarter, revenue in the cryptocurrency segment fell by 12% to $51 million.
Robinhood states, that the volatile market environment and risk aversion are the main reason for the continued slump and the lowering number of monthly active users (MAU). During the last quarter, the company's user base fell to 12.1 million from the previously reported 14 million.
Current industry turmoil has caused two rounds of layoffs; first, in April 2022, when Robinhood laid off 9% of its workforce and second, in August 2022, when an additional 23% of the staff was left unemployed.
The share price of NASDAQ-listed zero-free trading app Robinhood (ticker:HOOD) fell 19% on Tuesday after information that Binance, one of the leading cryptocurrency exchanges, agreed to acquire FTX, a crypto platform owned by, a soon-to-be former billionaire, Sam Bankman-Fried.
The sharp price drop occurs amid concerns that the cryptocurrency mogul, who bought a 7.6% stake in Robinhood in May 2022, will have to sell at least some of it to solve his company's current crisis. This week, the liquidity of the FTX exchange collapsed as investors rushed to withdraw their funds following worrying news about the financial balance sheet of Alameda Research, the other cryptocurrency firm owned by Bankman-Fried.
The FTX CEO currently holds 56,273,469 shares in HOOD. Tuesday's steep decline brought the price from $11.72 to $9.74, which is the lowest price it has been in more than two weeks. For the company, it was the steepest one-day decline since August 2021. The whole of 2022 has definitely not been a successful year for Robinhood as year-to-date (YTD) shares have lost 45%.
Robinhood shares fell sharply during Wednesday's session.
Robinhood debuted on the stock market in July 2021, selling for $38 per share and raising $2 billion from investors. The company rose for only a short while, reaching a record price of $85 a few days after the initial public offering (IPO), and has been in a clear downward trend ever since.
Losses and Workforce Cuts
The major US commission-free stock trading and investing app reported a quarterly net loss of $175 million last week. While the total net revenue increased by 14% to $361 million compared to the previous quarter, revenue in the cryptocurrency segment fell by 12% to $51 million.
Robinhood states, that the volatile market environment and risk aversion are the main reason for the continued slump and the lowering number of monthly active users (MAU). During the last quarter, the company's user base fell to 12.1 million from the previously reported 14 million.
Current industry turmoil has caused two rounds of layoffs; first, in April 2022, when Robinhood laid off 9% of its workforce and second, in August 2022, when an additional 23% of the staff was left unemployed.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
From Chat to Stock: xStocks Puts Tokenized U.S. Equities Inside TON Wallet on Telegram
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
