According to the Robinhood trading platform, retail traders’ interest in the Dogecoin cryptocurrency has dropped significantly, although the share of this coin is still high.
If in the II quarter of 2021 commissions from Dogecoin trading accounted for 62% of all revenues from the Robinhood cryptocurrency direction, then in the last quarter this figure dropped to 40%. Earlier, the platform has already reported on the overall decrease in profit from commissions from cryptocurrency transactions in the third quarter of this year.
The addition of Dogecoin to the platform allowed Robinhood to significantly increase its profits. However, the company is not yet keen to add a large number of cryptocurrencies. COO and head of cryptocurrency projects Robinhood, Christine Brown, emphasized that security and regulatory compliance remain the most important for the company.
“We think the short-term benefits for us are not worth the long-term consequences for our users. We evaluate the asset from all sides, including from the point of view of regulators, ”Brown replied when asked about the possibility of SHIB support.
Robinhood recently reported that the data of 7 million users of the platform fell into the hands of hackers. The company managed to protect the most important data, such as payment card numbers and social security numbers.