SEC Ends Investigation into Robinhood Crypto with No Action
- The SEC concluded its investigation into Robinhood Crypto without enforcement action.
- A Wells Notice was issued to Robinhood in May 2024 regarding potential enforcement.
- Robinhood’s head of legal, Dan Gallagher, criticized the investigation as unnecessary.
- The SEC has recently closed similar investigations into OpenSea and Coinbase.
- Almost half of Robinhood’s $672 million Q4 revenue came from crypto trading.
The SEC ended its investigation into Robinhood Crypto without taking action, following a Wells Notice issued in May 2024. This decision is part of a broader trend, as the SEC also closed cases against OpenSea and Coinbase recently.
Source (2.6)https://decrypt.co/307477/sec-ends-robinhood-investigation-with-no-action?rand=52368
