Thursday, July 29, 2021
HomeRobinhood Enables More Women to Trade Crypto, Say COO

Robinhood Enables More Women to Trade Crypto, Say COO

The corporate’s COO revealed that the variety of girls utilizing Robinhood year-on-year had elevated by 369%

Inventory and crypto buying and selling app Robinhood has enabled extra girls to commerce crypto says Chief Working Officer Gretchen Howard. The COO added that it was Robinhood’s purpose to extend its variety of feminine customers, extra particularly, girls investing in crypto.

Elevated Participation of Ladies in Crypto

In a Enterprise Insider article revealed on Wednesday, Howard revealed that the variety of girls utilizing Robinhood year-on-year had elevated by 369%. In March the platform reported a 7 instances improve within the variety of lively feminine customers buying and selling in cryptocurrencies since 2020. The determine now stands at 40% of all girls utilizing the app.

“To me it seems like, wow, we’ve enabled these girls to commerce crypto,” mentioned Howard. “[Crypto is] very new, particularly to individuals stepping into investing for the primary time. And it’s additionally stereotyped as a male-dominated house.”

Howard left enterprise capital agency CapitalG to hitch Robinhood in January 2019 as Vice President of Operations. In June of that yr, she was elevated to COO. Earlier this yr she mentioned that she hopes to see a considerable improve within the variety of girls utilizing the platform. At round that point, about 30% of lively customers have been girls. The app had over 30 million customers as of June, with 18 million having funded accounts.

A survey by Gemini revealed in April confirmed that for the primary time, extra girls than males have been taken with utilizing crypto as a type of funding. A World Financial Discussion board report, nevertheless, revealed that ladies employed within the blockchain and cryptocurrency business have been outnumbered by males. BDC Consulting inferred that having extra girls as audio system at crypto occasions and placing the media’s highlight on girls within the business may encourage extra feminine participation.

Robinhood’s Continued Regulatory Scrutiny and Potential IPO Snub

Robinhood is purportedly nonetheless underneath regulator scrutiny following its WallStreetBets saga. On June 30 the corporate was fined $70M by the Monetary Trade Regulatory Authority for allegedly inflicting “widespread and important hurt” to clients. The following day, Robinhood filed a Type S-1 registration assertion for an Preliminary Public Providing (IPO) with the USA Securities and Alternate Fee (SEC). The corporate, with the proposed ‘HOOD’ ticker, is reportedly hoping to boost $100M on the Nasdaq.

In the meantime, there have been calls on social media to shun the IPO claiming that Robinhood mishandled the uproar that adopted the GameStop saga citing glitches and buying and selling restrictions.

One Redditor mentioned that “Robinhood has not even been capable of maintain their app working correctly, has not been capable of fill orders promptly, has constantly offered incorrect information to customers about their trades.”

Cryptocurrency news, News

Mercy Tukiya Mutanya

Mercy Mutanya is a Tech fanatic, Digital Marketer, Author and IT Enterprise Administration Pupil.
She enjoys studying, writing, doing crosswords and binge-watching her favorite TV sequence.

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