Robinhood CEO Vlad Tenev once again confirmed that they are planning to list Shiba Inu (SHIB). Tenev didn’t specifically mention SHIB, but shared that the company is aware of a number of requests to strengthen its cryptocurrency list, which currently only includes seven tokens. Cryptocoin. com, we convey the details…
Exchange awaits SEC approval before SHIB listing
On December 22, 2020, the SEC filed a lawsuit against Ripple Labs and its two executives. The discovery process of the case is expected to end in February. On that matter, Robinhood boss Vlad Tenev says the company is engaging with regulators on this front to avoid listing unregistered securities:
We want to avoid triggering SEC registration requirements for cryptocurrencies… We feel very secure about the coins we hold on the platform.
Cryptocoin. com, Shiba Inu had an 8% upside reaction to Robinhood listing rumors earlier this month. The meme token is a catchy name for app users ahead of the company’s earnings call. Investors also want to know when the stock market will eventually become profitable and what steps have been taken to increase shareholder value since the company went public.
Robinhood shares down
In the fourth quarter of 2021, Robinhood’s cryptocurrency-related transaction revenue fell 6% to $48 million, accounting for 18.18% of the company’s total transaction-based revenue. Bloomberg analyst Julie Chariell attributes the decline to the company’s reluctance to list the Shiba Inu. Elsewhere, Robinhood shares rose more than 12% in aftermarket trading despite bearish forecasts. Interestingly, it’s down 84% from its peak, which is an even bigger loss compared to meme stocks like GameStop and AMC. In late July, the company went public. After posting a net loss of $423 million, Robinhood now hopes to be profitable in 2023, but does not rule out that it can reach profitability in 2022.
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