2 Reason Why Robinhood Refuses To List Shiba Inu On Their Platform : CEO Finally Speaks

Both Vlad Tenev and Irvin Sha, Head of Investor Relations and Capital Markets at Robinhood, were reading questions from users. Irvin read out an interesting question that came from users named Zachary W and Israh B. While the question was about ‘If Robinhood plans to add more cryptos’, it boiled to the one crypto whose community Robinhood cannot escape. The question remained, “list Shiba Inu, Vlad?”

 

Unregistered Securities

The main concern with adding a large number of coins is that platforms that are adding lots of them could be adding unregistered securities. So they’re watching the space closely. We’re being deliberate.”

The CEO confirmed that Robinhood does not want disputes with the SEC and the firm remains cautious with its moves.

“That said, Rooinhood have robust protocols in place. They feel very confident about the coins that they have on their platform, and they intend to add more coins going forward that they want to do it prudently,” according to Tenev.

SEC Registration

RobinHood is trying to avoid triggering SEC registration requirements for cryptocurrencies. That said, we have robust protocols in place. We feel very confident about the coins that we have on the platform, and we intend to add more coins going forward that we want to do it prudently.”

The SEC is having an ongoing legal tussle with Ripple, with the regulator accusing Ripple’s executive Chairman and CEO of raising funds since 2013 through the sale of XRP.

Robinhood may not be wanting to rub the SEC the wrong way by indiscriminately listing a slew of cryptos, and instead is waiting for more clarity on the regulatory front.

 

Robinhood to List Shiba Inu in February 2022?

Political news website Zero Hedge sent out a tweet in bold letters claiming Robinhood will list SHIB in February 2022. They also called RH’s decision on SHIB listing “is about 6 months too late”. “SHIBA INU ROBINHOOD LISTING SAID TO COME AS EARLY IN FEB. This is about 6 months too late,” the tweet read.

An hour after the tweet was out, First Squawk, a global financial news network repeated the same in their tweet. “SHIBA INU ROBINHOOD LISTING SAID TO COME AS EARLY IN FEB.”

READ ALSO: Shiba Inu Got A Huge Surprise For 2022; It About To Change The Whole Crypto Game

However, Robinhood has not specifically confirmed listing SHIB yet and has mostly remained tight-lipped about the development. We’ll have to wait and watch for an official confirmation if the leading exchange will get SHIB onboard or not.

At press time, Shiba Inu was trading at $0.00002084 and is up +0.28% in the 24-hours day trade. The meme-token traded down -20.5% in the last 7-days. SHIB had reached an all-time high of $0.00008616 in October 2021 but is now down -75.6% from its ATH.

Why It’s Important: The loyal following of SHIBA – called the SHIBARMY – has been projecting the potential addition to Robinhood as a “win-win” proposition.

Amid the crypto and broader market downturn, SHIB has come back notably from its all-time high of $0.000088 reached on Oct. 28, 2021. A Robinhood listing could help the meme crypto break out of the lackluster phase, given it would increase the availability and demand for the token and in turn its prices.

Latest numbers from Robinhood shows that it had about 17.3 million users as of December 2021.

At last check, Shiba Inu was seen up 5.98% at $0.000021.

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