On February 24, the Securities and Exchange Commission (SEC) closed its investigation against Robinhood and announced that it will not pursue action against it.
In May 2024, Robinhood was warned that it could be punished for failing to register some crypto assets “listed on its trading platform as securities.”
No reason was given for the closing of the investigation.
This comes days after the SEC case against Coinbase was dropped. As Trumpfile has written numerous times, Trump has sought to utilize crypto as his main instrument to personally profit from the Presidency. To fully tap into crypto, he has sought to totally de-regulate it. Ironically, this move by the SEC failed to produce the results that Trump wanted, as Robinhood fell 5.2% in the morning following the dismissal of the investigation.
