Robinhood Receives SEC Subpoena , for Its Crypto Business.<br />MarketWatch reports that the subpoena <br />was revealed in a filing on Feb. 27.<br />Robinhood received the subpoena from securities regulators in December after FTX and other crypto-trading companies filed for bankruptcy.<br />Robinhood received the subpoena from securities regulators in December after FTX and other crypto-trading companies filed for bankruptcy.<br />The SEC wants to investigate Robinhood Crypto LLC's “cryptocurrency listings, custody of cryptocurrencies and platform operations,” among other things.<br />The SEC wants to investigate Robinhood Crypto LLC's “cryptocurrency listings, custody of cryptocurrencies and platform operations,” among other things.<br />MarketWatch reports that if it is <br />determined that any cryptocurrencies <br />on the trading platform are securities, .<br />it could stop Robinhood “from continuing to facilitate <br />trading of those cryptocurrencies (including ceasing <br />support for such cryptocurrencies on our platform).”.<br />Robinhood's board recently authorized the <br />company to repurchase over 50 million shares that <br />were previously bought by FTX founder <br />Sam Bankman-Fried and seized by the DOJ.<br />Robinhood's board recently authorized the <br />company to repurchase over 50 million shares that <br />were previously bought by FTX founder <br />Sam Bankman-Fried and seized by the DOJ.<br />Robinhood reports that it ended 2022 with $2.91 billion available in credit and $6.3 billion in cash and cash equivalents. .<br />MarketWatch reports that Robinhood <br />shares dropped 0.6% on Feb. 27.<br />Over the past year, the company's <br />shares have dropped 16.3%
