Cryptocurrency News

‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss

08/03/2022

Less than a minute

2022.08.03 05:53

‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss

Online brokerage firm Robinhood (NASDAQ:HOOD) will lay off nearly a quarter of its employees, citing a continued deterioration of the macro environment and a broad crypto market crash.

The bad news came in a Tuesday blog post from co-founder and CEO Vlad Tenev, on the same day the firm released tepid Q2 financial results and the New York State Department of Financial Services announced a $30 million fine for the company’s crypto branch due to alleged Anti-Money Laundering, cybersecurity and consumer protection violations.

08/03/2022

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