Robinhood which is a financial technology firm (fintech) based in Menlo Park, California. It is an online broker like Hargreaves Lansdown as well as competitors fintech, Revolut and Freetrade.
This week, the Fintech company began to be embroiled in a series of controversies caused by rivalry between institutional investors and retail investors. The GameStop (GME) share price surge of almost 2000% has caused institutional investors to incur huge losses.
Following that, American financial services firm Robinhood decided to freeze any new purchases of GME shares including several other shares. The move has met with strong opposition from various quarters, including U.S. representatives.
Today, crypto investors were shocked by a similar thing when Bitcoin and doge jumped so high.Dogecoin soared by 800% on Friday. Many did not expect this, crypto which initially started with a joke recorded a high jump.
At the same time, the price of Bitcoin also soared after Tesla CEO Elon Musk changed his bio on Twitter to #bitcoin. The price of bitcoin soared to more than $ 37,000 per unit.
Robinhood was not happy about this and started freezing any transactions. In a statement, they said that due to unexpected market conditions, they had to freeze crypto purchases. In other words, for those who want to make the latest deposit is not allowed but for those who still have a balance in the wallet then allowed to buy crypto.
Dogecoin is currently ranked 12th in the total market at coinmarketcap.com.
