Robinhood CEO Says Firm Has Responded to SEC on Crypto Scrutiny.

UNITED States. Securities & Exchange Commission; QUARTERLY reports; BLOOMBERG Television LP; RETAIL industry; CHIEF executive officers; CONSUMERS; MARKET value; CRYPTOCURRENCIES; CREDIT cards

Robinhood CEO, Vlad Tenev, has stated that the company is in ongoing communication with the US Securities and Exchange Commission (SEC) after receiving a warning from the regulator in May. The SEC had issued a Wells notice related to Robinhood's cryptocurrency business, and the company has submitted a response. Tenev emphasized that the company has put significant effort into ensuring the quality of their response. Despite facing some disruption due to the suspension of overnight trading by execution venue Blue Ocean ATS, Robinhood reported strong second-quarter earnings that exceeded analysts' expectations. [Extracted from the article]

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