Robinhood’s crypto business is under fire by the SEC. Here’s what that means for customers

May 6 2024 by Fast Company

The company was just hit with a Wells Notice, or a formal warning that the SEC intends to take civil action.

This morning, Robinhood Markets shares dropped more than 2% in premarket trading after the company’s cryptocurrency division was hit with a “Wells Notice.” Filed by the U.S. Securities and Exchange Commission on Saturday, the notice is a formal warning that the SEC intends to take civil action against Robinhood.

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