Robinhood (HOOD) has received a warning from the Securities and Exchange Commission (SEC) that the trading platform could face an enforcement action regarding its crypto business on the platform. Mizuho Americas Senior Financial Technology Analyst Dan Dolev joins Market Domination to discuss why he’s not concerned about this development.
Dolev notes that there’s no reason for investors to be worried about Robinhood’s stock falling, as "this is not new news." He points out that this issue was previously discussed by Robinhood, with the SEC just now "taking action on something they’ve been calling out for two years." Furthermore, he emphasizes that Robinhood’s crypto exposure is "very minimal."
Dolev commends Robinhood for being "the good guy" among crypto exchange platforms, steering clear of "riskier tokens." He suggests that Robinhood not fighting the SEC probe will benefit the trading platform in the long run.
"The fundamentals of Robinhood are so good that this is going to remain as a little bug bite, not more than that," Dolev told Yahoo Finance.
#news #stockmarket #crypto
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
