Robinhood, the popular US trading app, recently added Arbitrum (ARB), an Ethereum scaling solution, to its platform. This listing sparked a noticeable price jump for ARB.
ARB’s Price Surge
The news sent ARB’s price climbing from $0.374 to $0.421 in just one day. At the time of writing, it’s trading around $0.419, representing a roughly 14.5% increase in 24 hours.
Robinhood’s Growing Crypto Business
ARB joins a growing list of cryptocurrencies available on Robinhood, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), and popular meme coins like Dogecoin (DOGE), Pepe (PEPE), and Shiba Inu (SHIB). This move comes after Robinhood reported an impressive eightfold increase in crypto trading revenue during the fourth quarter of 2024, significantly outpacing its competitor, Coinbase. The company also saw a 200% year-over-year jump in transaction-based revenue, largely driven by crypto trading.
SEC Investigation Closed
Adding to Robinhood’s positive momentum, the Securities and Exchange Commission (SEC) recently dropped its investigation into the company without taking any action. Robinhood’s chief legal officer celebrated the decision, stating the investigation was unwarranted and that the company always complied with securities laws.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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