Robinhood announced the details of its IPO: Robinhood trading platform has announced the details about its IPO (Initial Public Offer) yesterday. This platform that presents services to buy and sell cryptocurrencies, intends to sell near 55 million units of its stock and attract more than 2 billion dollars from this investment.
According to shetcoiner and quote to decrypt.co, if Robinhood does its initial release, it’s going to be the second company and cryptocurrency exchange that is confirmed by United States New York stock.
A while ago Coinbase, another cryptocurrency exchange tried to sell its IPO in NASDAQ stock market a that however the IPO was at the same time with Bitcoin’s sharp hash rate drop that made the stock of this company have a strange and odd fall for a long time and get away from the price of its initiating.
Robinhood estimates the price per unit of his stock at between 38$ and 42$. Robinhood submitted his IPO request to the U.S. Securities and Exchange Commission on July 1st.
This company also expects its revenue to decline in the third quarter due to declining trading volumes, especially in cryptocurrencies.
Robinhood is a commission-free trading platform founded in 2013 by Baiju Bhatt and Vlad Tenev. One of the goals of this exchange is to make buying and selling bitcoin and other cryptocurrencies possible for the public and younger investors with less capital.
Following this particular trading platform, many other exchanges have also reduced their trading fees or even made it to zero, and have joined Robinhood in publicizing bitcoins and cryptocurrencies.