Robinhood’s Planned IPO Faces Delays From SEC Over Crypto Business: Report

Robinhood’s Planned IPO Faces Delays From SEC Over Crypto Business: Report

Robinhood Markets LLC’s planned initial public offering (IPO) is reportedly facing delays in its bid to go public because of its growing cryptocurrency business.

  • A report by Bloomberg on Thursday cites several people close to the matter who say the Securities and Exchange Commission have slowed plans for the stock trading app maker's IPO.
  • Robinhood had been aiming for a June listing after initially filing in March. The goal now is to list next month ahead of the July 4 holiday season.
  • Yet the timing could once again fall short and may slip into the fall according to the report, which cited a source wishing to remain anonymous because the matter was private.
  • Robinhood has faced scrutiny from regulators this year who allege the site encourages the game-like nature of trading, especially when it comes to inexperienced retail traders.
  • Source