Others caught in the SEC's crypto crackdown might have more at stake, but the trading app is out to prove the regulator wrong.
The trading app arguably has less at stake than some others already caught in the SEC's crypto crackdown, but RobinhoodThe so-called Wells notice received over the weekend comes almost 18 months after the SEC had subpoenaed the company for information related to the business, back in December 2022.
It isn't clear to what extent dogecoin is carrying that business now, but it's notable as the meme coin is the only other coin on a list of safeguarded user cryptocurrencies, alongside bitcoin and ether — meaning what Robinhood has in custody for users is accounted as assets on its balance sheet.How much is that DOGE worth sitting in the app window? Shareholders might want to know, that is if Robinhood is winding up for a lengthy legal battle.
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