San Francisco: Silicon Valley-based online trading app Robinhood has sacked 23 per cent of its workforce, just three months after the fintech platform reduced its headcount by 9 per cent amid the global economic turmoil. A 23 per cent reduction would amount to about 713 employees being laid off, leaving nearly 2,400 employees at the […]
The funds are being provided by Ribbit Capital and several other venture capital firms, including Sequoia Capital, Index Ventures and ICONIQ Capital. The USD 3.4 billion figure includes $1 billion in funding that Robinhood announced Friday.
Although the FAA did not directly name Robinhood, GameStop and others, it acknowledged that extreme stock price volatility has the potential to expose investors to "rapid and severe losses and undermine market confidence".