Robinhood files SEC paperwork for public offering

Robinhood files SEC paperwork for public offering

Robinhood Markets Inc., a popular trading app that recently expanded its cryptocurrency business, has filed paperwork with the United States Securities and Exchange Commission, or SEC, to go public.

The company confirmed Tuesday that it had confidentially submitted a draft registration statement on Form S-1 with the SEC relating to the proposed public offering of its common stock. Form S-1 requires companies to provide more detailed information on the planned use of capital proceeds., as well as a brief prospectus on the proposed security.

Our top trading bots

While Robinhood didn’t specify when the IPO would take place, it confirmed that a public offering would be pursued “after the SEC contemplates its review process, subject o market and other conditions.”

Speculation about a Robinhood IPO has circulated for months amid news that the company had lined up a team of advisers to guide it through the listing process. In October 2020, CEO and co-founder Vlad Tenev told CNBC that he was “not in a rush” to push a public listing because the company was well funded.

Public opinion of Robinhood soured earlier this year – and may have stalled the IPO process – after the company decided to halt trading of GameStop. An anonymous survey conducted in January via the Blind networking forum found that, among 8,750 verified finance professionals, 83% believed Robinhood had “screwed its IPO.”

Robinhood added 6 million new cryptocurrency users in January and February 2021, which was 15 times higher than the average figure in all of 2020. The company has announced plans to expand its crypto services to allow for deposits and withdrawals for crypto assets.

Continue reading at Cointelegraph
CEXs refuse blanket asset freeze of all Russian users, though questions linger
Centralized exchanges (CEX) and CEOs from companies such as Binance, Coinbase and Kraken have all stated they would only freeze the assets of Russian clients...
Tonga’s timeline for Bitcoin as legal tender and BTC mining with volcanoes
Lord Fusitu’a, a former member of the Tongan parliament, has shared a timeline for the country’s plan to adopt Bitcoin (BTC). A Tongan nobleman, Fusitu’a...
Latest DeFi bridge exploit results in $4.4M losses for Meter
The Meter Passport token bridge platform has incurred $4.4 million in losses due to a smart contract hack which also caused Hundred Finance to lose $3.3...
U.S. Congressman wants to scrub bill provision that crypto advocates say is a potential disaster
North Carolina Representative Ted Budd submitted an amendment to the omnibus America COMPETES Act of 2022, specifically targeting the provision that would...
LÜM to launch ‘Access Pass’ NFTs for 25 globally known musicians
U.S.-based music platform LÜM is set to announce 25 partnerships with globally known musicians as part of a re-launch involving NBA Top Shot’s Dapper Labs...
‘We are 50% of the way there,’ says Vitalik on Ethereum’s development
Vitalik Buterin has walked listeners through a five-part roadmap on the latest Bankless podcast where he outlined the necessary steps for Ethereum to survive...
Korean government tells Apple and Google stores to take down P2E games
The South Korean government has moved to block the release of new play to earn (P2E) games and requested that existing ones be removed from Google Play...
BTC price falls back to $47K as weekly close neatly tracks Bitcoin futures gap
Bitcoin (BTC) retested $47,000 on Sept. 19 as the weekly close looked set to hinge on the CME futures gap.BTC/USD 1-hour candle chart (Bitstamp). Source:...
If the peer review system is broken, what the hell is the point of Cardano's reliance on it?
In a recent interview with Lex Fridman, Charles Hoskinson — founder of Cardano and co-founder of Ethereum — offered his views on Bitcoin (BTC). The 33-year-old...
'I have nothing': Imprisoned John McAfee claims his crypto fortune is gone
Software antivirus pioneer John McAfee has told his one million Twitter followers that his entire crypto fortune is gone — although he concedes not everyone...
Shanghai Man: Aping out of gorilla token, digital dollar Biden its time... and more
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects,...
Possible Bitcoin treasury adoption as more companies cite inflation concerns
No fewer than 47 companies have cited the term “inflation” in their earnings calls for Q1 2021.According to a report by financial market data provider FactSet...
Powers On… Why the SEC is not your friend (and how to deal with that)
Powers On... is a new monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases...
Indian crypto exchange execs intensify lobbying efforts to prevent ban
Nischal Shetty, CEO of Indian crypto exchange WazirX, and other stakeholders in the industry are reportedly working toward convincing the government to...
Tech Investor Palihapitiya Said Buffett’s Wrong, Despite Being His ‘Disciple’
At the end of April, Yahoo Finance published an interview with Warren Buffett, in which the known investment master blasted bitcoin. The Oracle of Omaha...