The American fintech giant is only offering crypto trading for now, not the full range of stock trading, prediction markets and other services available in the U.S. (The Logic)
Talking point: Robinhood’s Canadian launch spells the end of an era for Coinsquare and Bitbuy, two Canadian crypto-trading platforms it acquired when its takeover of parent company WonderFi closed in June. The websites for Coinsquare and Bitbuy now direct users to the Robinhood app. Robinhood’s acquisition of WonderFi was fraught with turmoil, including a $6-million settlement with activist investor Adam Arviv, who threatened to go public with unspecified governance concerns. In June, Robinhood’s head of crypto told The Globe and Mail that the company eventually plans to “bring the entire Robinhood” to Canadian customers. Robinhood’s Canadian launch follows an earnings miss linked to falling crypto-trading revenue amid a bear market for digital assets.
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