Robinhood Crypto Chief Working Officer Tanya Denisova is leaving the corporate, in response to two individuals accustomed to the matter.
Based on his LinkedIn profile, Denisova had been employed by the favored buying and selling platform for greater than 5 years.
Neither Robinhood nor Denisova responded to requests for remark.
The departure comes as Robinhood missed first-quarter revenue and income expectations, largely as a consequence of weak crypto buying and selling exercise. Crypto-related income, one among Robinhood's largest sources of buying and selling income, fell 47% yr over yr to $134 million from $252 million. The decline comes as the corporate works to cut back its dependence on cryptocurrency market fluctuations and reposition its enterprise past fluctuations in worth cycles.
Robinhood permits customers to commerce shares, exchange-traded funds (ETFs), choices, and cryptocurrencies by means of a mobile-first app. The corporate additionally affords retirement accounts, money administration companies, and market insights geared toward simplifying investing and increasing entry to monetary markets.
The corporate is increasing its presence within the cryptocurrency house by providing commission-free buying and selling of main digital belongings instantly inside the app, together with Bitcoin, Ether (ETH), Solana (SOL), and extra.
The corporate additionally affords cryptocurrency wallets, on-chain transfers, staking companies on choose markets, and academic instruments geared toward new buyers. As a part of a broader technique to bridge conventional finance and digital belongings, Robinhood has continued to increase its cryptocurrency choices internationally, establishing itself as a easy, low-cost entry level to the cryptocurrency market.
learn extra: Robinhood inventory falls 8% as crypto buying and selling income slumps, lacking out on huge income
