Massachusetts securities regulators are reportedly preparing to file a complaint against a major cryptocurrency-friendly trading platform, Robinhood. According to a Wednesday report by the Wall Street Journal, Massachusetts regulators alleged that Robinhood's marketing illegally targeted inexperienced investors. According to a final draft of a 20-page administrative complaint reviewed by the WSJ, the enforcement arm of the Massachusetts Securities Division said that Robinhood exposed Massachusetts investors to “unnecessary trading risks” by “falling far short of the fiduciary standard.” The authorities expect to file the complaint on Wednesday, the report notes. According to the WSJ, the complaint came from the office of …

Retail traders have been flocking to trade stocks and cryptocurrencies on the popular app Robinhood — and it shows in the company’s latest Series G funding round. On Sept. 23, a spokeswoman for Robinhood Markets Inc. disclosed that the fintech has increased its latest funding round to $660 million, at a company valuation of $11.7 billion. The fresh funding is an extension of a Series G round first announced in August, when D1 Capital Partners invested $200 million in Robinhood. New and stalwart investors in the app have reportedly been involved in the extension, among them Andreessen Horowitz, Sequoia, DST …

Stock and crypto trading app Robinhood has raised $200 million in a new funding round. In an Aug. 17 blog post, Robinhood said it had secured $200 million in a Series G funding round. Robinhood said that the platform is now reportedly valued at $11.2 billion according to D1 Capital Partners. The trading app said the investment would be used to improve its “core product and customer experience.” Robinhood recently raised $320 in a July funding round at a $8.6 billion valuation with investors including TSG Consumer Partners and IVP, and $280 million in a Series F funding round at …

Retail traders on Robinhood have been increasingly seeing “fear of missing out” or FOMO rallies around certain stocks. The latest beneficiary has been the stock price of the renowned camera manufacturer Kodak (KODK) whose stock surged from $2 to $60 in one day. Therefore, given the current climate of economic uncertainty and “infinite QE,” if the optimism around risk-assets flows over to Bitcoin, chances of a similar rally for BTC price — as some analysts are currently predicting — certainly increase. Moreover, following the Federal Reserve’s FOMC meeting on July 29, strategists expect the overall sentiment of investors to recover, …

Robinhood, the Silicon Valley-based stock and cryptocurrency investing app popular among younger generations for its "gamified," user-friendly interface and zero-fee trading, has reportedly decided to abort its launch in the United Kingdom “indefinitely”. According to CNBC on July 21, Robinhood informed its British customers who had been signed up to the waitlist since November that the company will be focusing on its home market in the near future. A spokesperson stated: “A lot has changed in the world over the past few months, and we’ve made the difficult decision to postpone our U.K. launch indefinitely. As a company, we are …

June 25, a new class action was filed in California against fintech startup Plaid, which was acquired by Visa for $5.3 billion earlier this year. The plaintiffs allege that Plaid violated privacy and data protections by accumulating and monetizing financial transactions of millions of users. $5,000 per infraction The complaint alleges that the company accumulated this data by “data plumbing” popular services like Venmo, Stripe, Square’s Cash App and Robinhood. It purports that Plaid knew: “Every dollar you deposit or withdraw, every dollar you charge or pay to your credit card, and every dollar you put away for retirement, within …

It’s been a relatively calm time for Bitcoin this week. The price has dropped a little, but not much and it’s still tickling $10,000. That makes concerns about a correction that takes the coin as low as $7,700 feel moot. If it happens, some experts say it would be a buying opportunity. Others though, think that price would be great for sellers. Investor Jim Rogers thinks that Bitcoin will eventually fall to zero and fade away. Max Keiser hopes that Rogers is wrong. The RT television personality has been saying that buying Bitcoin is the best way to address the …

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Should Bitcoin traders stay bullish if BTC price corrects to $7,700? Bitcoin is at a pivotal point — and the next few weeks are likely to be critical in establishing a medium-term price trend. The resistance zones are still clear: $10,100 to $10,500. According to analyst Michaël van de Poppe, another test of this resistance …

Alexander Kearns, a 20-year-old customer of stock and cryptocurrency trading platform, Robinhood, committed suicide on June 12. This tragedy reportedly occurred after an erroneous negative balance of more than $730,000 appeared in Kearns’ account. This error has prompted the platform to take measures in order to improve the platform’s offering. According to the official announcement, Robinhood is considering additional criteria and education for customers seeking level 3 options authorization. They state that this may help ensure customers understand the platform’s sophisticated options trading features. They note that they will also be expanding educational content related to options trading within their …

Crypto influencer Tone Vays has come under fire on Crypto Twitter following a mix-up over a tweet that appeared to show him ‘getting a laugh’ out of the suicide of a 20-year-old Robinhood trader. On June 17, the Bitcoin trader behind The Financial Summit hit reply to a comic “this is business” meme video posted by Twitter user Cryptanzee that was poking fun at him for charging $3000 for his options trading course. He sent the following tweet in reply: Source: CryptoCobain Vays linked to a Forbes article about Alexander Kearns, a 20-year-old customer of stock and cryptocurrency trading platform …

Robinhood, a stock and crypto trading application known for its mainstream appeal and simplicity, recently reported significant platform outages. Robinhood announced "experiencing a major outage in equities and options trading, as well as degraded performance in cryptocurrency trading" on June 18, a Reuters report detailed. Reuters reported a note on Robinhood's website, stating: “We’re currently experiencing issues with our services and are investigating the issue.” By press time, however, Cointelegraph staff could not locate such a statement on Robinhood's page. Robinhood appeals to the masses Robinhood offers the public a simple avenue into the stock and crypto investment world. The …

Broadcaster and renowned Bitcoin (BTC) bull Max Keiser has taken a knock on veteran investor Warren Buffett in a tweet posted on Monday. Keiser claimed that users of the popular stock and cryptocurrency trading app Robinhood had stolen Buffett’s money by capitalizing on his recent losses in the airline sector. He further suggested that the profits made on Buffett’s mistimed stock sales were being invested in Bitcoin. Stealing Buffett’s bags In early May, Buffett told shareholders of Berkshire Hathaway that he had sold all of the company’s airline stock at a huge loss due to fears that the sector would …