Robinhood is probably one of the best-known brands among the millennials and it has recently <a href="https://www.sec.gov/Archives/edgar/data/1783879/000162828021013318/robinhoods-1.htm" target="_blank" rel="nofollow noopener">revealed</a> its financial performance ahead of its IPO. Along with disclosing $11.6 billion in crypto holdings, Robinhood is most likely to list shares in the month of August or September.
<h2>Robinhood Discloses $11.6 Billion in Crypto Holdings</h2>
The surge in the crypto industry due to the pandemic assisted Robinhood to gain $7.5 million in profits on $959 million in revenue for the year 2020.

In accordance with the S-1 filing with the Securities and Exchange Commission of the United States, the financial performances of the company were laid out for the very first time ahead of its IPO later this year. 

In addition to this, the intentions of the firm were revealed which were to raise around $100 million as a segment of its IPO procedure, and it is expected that the firm will be listing its shares on the NASDAQ under the symbol HOOD.

Talking about the crypto business of the company, it saw a vast increase in the amount of BTC and other crypto funds that it holds on behalf of its customers. 
<h2>Robinhood’s Crypto Offerings Includes BTC and DOGE</h2>
It has also been revealed that the crypto offerings of Robinhood which include Dogecoin and Bitcoin and they are currently limited as the customers are not able to move the cryptocurrencies off its platform. 

However, the Crypto COO of Robinhood, Christine Brown revealed in the month of May that this is likely to alter in the near future.

In the month of March, Robinhood first declared its intentions to go public, but the procedure of going public dragged out amidst the legit <a href="https://www.cryptoknowmics.com/news/robinhood-suffers-major-outage-as-it-restores-dogecoin-trading/">involvements</a> with the SEC.

Along with this, it should be noted that Robinhood has also managed to attract the interests of financial regulators such as <a href="https://www.cryptoknowmics.com/news/robinhood-slapped-with-70-million-record-penalty-by-finra/">FINRA</a>, as the authority imposed a $70 million fine on the firm.

Robinhood Reveals Financial Performance Ahead of IPO, Discloses $11.6 Billion in Crypto Holdings

Robinhood is probably one of the best-known brands among the millennials and it has revealed its financial performance and crypto holdings ahead of its IPO.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

Robinhood Reveals Financial Performance Ahead of IPO, Discloses $11.6 Billion in Crypto Holdings

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