Did ‘insider’ secretly short Robinhood on Hyperliquid?
Critics allege that a collection of pseudonymous wallets committed insider-like trading of Robinhood stock derivatives via Hyperliquid.
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Critics allege that a collection of pseudonymous wallets committed insider-like trading of Robinhood stock derivatives via Hyperliquid.
Read more (3 min) →Robinhood's compliance program was understaffed and the company was too slow in moving away from its manual transaction monitoring system.
— Crypto, Regulation
The exact terms of the deal have not been disclosed but as of September last year, Ziglu was valued at somewhere in the region of $111 million.
Robinhood stock has collapsed more than 60% since its IPO last July, and fleeting crypto trade volumes haven't been enough to turn the tide.
Robinhood's finance chief recently noted there's no "compelling reasons strategically" to buy sizable amounts of crypto with company cash.