Robinhood Crypto Chief Working Officer Tanya Denisova is leaving the corporate, in line with two individuals acquainted with the matter.
In response to 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 resulting from weak crypto buying and selling exercise. Crypto-related income, certainly one of Robinhood’s largest sources of buying and selling income, fell 47% 12 months over 12 months to $134 million from $252 million. The decline comes as the corporate works to scale 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 a mobile-first app. The corporate additionally gives retirement accounts, money administration providers, and market insights aimed 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 throughout the app, together with Bitcoin, Ether (ETH), Solana (SOL), and extra.
The corporate additionally gives cryptocurrency wallets, on-chain transfers, staking providers on choose markets, and academic instruments aimed 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 large earnings
