Robinhood Invests More Than $3 Billion in BTC

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According to Arkham Intelligence, the Robinhood Bitcoin wallet is the third largest, holding more than $3 billion worth of cryptocurrency.

This is behind only the Binance and Bitfinex exchanges, which hold $6.4 and $4.3 billion, respectively.

Over the past three months, 118,300 BTC have been transferred to their address from various wallets.

Although their digital asset deals have seen a decline of 18% in the second quarter, total revenue for the company remains at $193 million in spite of a 4% decrease in the past year.

In response to pressure from the Securities and Exchange Commission, Robinhood announced decisions to discontinue operations with altcoins, like Solana (SOL), Cardano (ADA) and Polygon (MATIC), in July.