TL;DR: Second-quarter financial results: The firm’s digital assets under management (AUM) fell to $49 billion, recording a decrease of approximately 40% compared to the previous year.
Robinhood announced the layoff of 10% of its workforce, a measure that CEO and co-founder Vlad Tenev communicated internally before the company shared it ahead of market open. The
Despite the drastic 47% drop in its cryptocurrency transaction revenue, recently reported, Robinhood’s trading platform continues to enjoy investor confidence. The latest financial reports reveal that
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