Robinhood Remains Undecided on Shiba Inu Listing
The Chief Financial Officer of Robinhood, Jason Warnick, has stated that the popular trading platform was yet to decide on whether to list Shiba Inu or not.
When asked about Robinhood’s intention for Shiba Inu during the Wall Street Journal CFO Network Summit, he said, “we’ll keep our options open.”
Robinhood top Exec Speaks on Listing Other Assets
Warnick further recognized the multiple requests from several users to list more crypto assets on the platform. According to him, “It’s not lost on us that our customers and others would like to see us add more coins.”
The CFO explained that regulatory clarity is essential before the company can add a new coin, given that it’s a public company.
Before now, Robinhood CEO Vlad Tenev had denied any plans by the exchange to list the cryptocurrency. Per his statement, safety concerns mean it can’t list any new asset without making sure that it meets specific regulatory criteria.
Shiba Inu Community Wants Robinhood Listing
The Shiba Inu community has called on Robinhood to list the token for months now. A Change.org petition asking for Robinhood listing last year surpassed 550,000 signatures.
The SHIBA community has also grown significantly, with over 1.1 million people holding the meme coin.
Though the token value has been on a slump for a while now, it witnessed a recent spike on Thursday after business news website, ZeroHedge tweeted that Robinhood could list it as soon as February. As a result, the token saw about a 16% rise before its value dropped again.
Shiba Inu, created in 2020, presents itself as an Ethereum-based alternative to Dogecoin. The token saw a significant rise in price in 2021 due to support from the crypto community. This led to over 24,000,000% rise within a year.
At its peak, it dethroned Dogecoin as the number one meme coin and entered the top ten crypto assets by market cap. However, it has lost most of the gains that led to its ATH of $0.00008845 in October 2021. SHIB currently trades at $0.00003101 and has dropped by 3.74% in the past 24 hours.Source