Inventory and cryptocurrency-trading platform Robinhood has briefly disabled immediate deposits for cryptocurrency purchases as of Jan. 29, citing
Inventory and cryptocurrency-trading platform Robinhood has briefly disabled immediate deposits for cryptocurrency purchases as of Jan. 29, citing “extraordinary market circumstances.”
Customers are nonetheless in a position to purchase cryptocurrency utilizing settled funds which have beforehand been deposited, though such deposits can take as much as 5 enterprise days to clear.
A Robinhood spokesperson informed CNBC that the corporate would “maintain monitoring market circumstances and speaking with our clients.
Robinhood has confronted latest criticism for suspending buying and selling in various conventional shares, together with GameStop, which have been being supported by retail traders to the detriment of Wall Avenue hedge funds.
The suspension of immediate shopping for energy for crypto by the buying and selling app comes scorching on the heels of the identical group of retail traders, led by Redditors from the r/WallStreetBets subreddit, pumping Dogecoin (DOGE) to surge 900%.
This has led to the meme-based coin re-entering the highest ten digital belongings by market cap for the primary time since 2015.
In the meantime, Bitcoin (BTC) has additionally been pumping, gaining $5,00zero in a matter of minutes, following Elon Musk altering his Twitter bio to easily “#bitcoin.”
This story is creating and will likely be up to date as extra particulars emerge.