Robinhood Crypto Chief Working Officer Tanya Denisova is leaving the corporate, in accordance with two folks aware of the matter.
Based on 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% yr over yr to $134 million from $252 million. The decline comes as the corporate works to cut 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 via a mobile-first app. The corporate additionally provides retirement accounts, money administration companies, and market insights aimed toward simplifying investing and increasing entry to monetary markets.
The corporate is increasing its presence within the cryptocurrency area by providing commission-free buying and selling of main digital property straight inside the app, together with Bitcoin, Ether (ETH), Solana (SOL), and extra.
The corporate additionally provides cryptocurrency wallets, on-chain transfers, staking companies on choose markets, and academic instruments aimed toward new buyers. As a part of a broader technique to bridge conventional finance and digital property, Robinhood has continued to develop 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 huge income
