Robinhood SEC Subpoena

Robinhood Received SEC Investigative Subpoena Over Crypto Listings and Custody Services

CryptocurrencyNews
··1 min read

Robinhood, the popular online trading platform, has received an investigative subpoena from the United States Securities Exchange Commission (SEC) regarding its digital asset business’ crypto listings, custody, and platform operations. The disclosure was made in a filing to the SEC on Monday.

The subpoena was related to Robinhood’s cryptocurrency listings and custody services. The California Attorney General’s Office had previously issued subpoenas to Robinhood’s crypto business in April 2021, seeking information about its cryptocurrency listings, custody of cryptocurrencies, and platform operations.

Robinhood noted that the subpoena was issued shortly after the collapse of FTX and the subsequent high-profile bankrupcies of Three Arrows Capital, Voyager, and Celsius.

Robinhood’s crypto division was also fined $30 million by the New York District of Financial Services in August 2022 for failing to “invest the proper resources and attention to develop and maintain a culture of compliance.”

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