Robinhood's Dogecoin Problem; Crypto’s Recruiting Advantage

Robinhood’s initial public offering filing shows just how entwined the trading platform is with cryptocurrency. Around 17%, or $87.6 million, of the company’s transaction-based revenue in the first quarter of 2021 came from crypto transactions, according to the paperwork unveiled today. 

The connection between the two might not be mutually beneficial, though. Robinhood’s meme stock associations, coupled with myriad lawsuits and a historic fine the company is facing, aren’t what crypto needs right now as regulators increase their scrutiny of the sector.