Bitcoin price today: slips below $113k, near 6-wk low despite Fed cut bets
Investing.com -- Robinhood Markets Inc (NASDAQ:HOOD) stock surged 7.5% following the launch of a new crypto deposit match program and recent product enhancements announced by CEO Vlad Tenev.
The financial services company began offering customers a 1% match on crypto net deposits starting today. According to the announcement, if the Robinhood community transfers $500 million or more in crypto, the match will increase to 2%. The promotion runs through July 7, subject to terms and conditions.
The stock’s upward momentum has been building since last week’s livestream event where Tenev unveiled several new platform features. Among the upcoming additions is Cortex’s Digest tool, which will provide "timely AI insights" and is expected to roll out in the coming weeks.
Robinhood is also expanding its Legend capabilities to its mobile app, including advanced charting features and significantly enhanced indicator capabilities. The company plans to streamline the trading process by reducing the steps needed to execute trades and making options trading more accessible.
Additionally, the platform will now offer simulated potential returns on stocks, further enhancing the user experience. These developments collectively signal Robinhood’s commitment to creating a more robust and user-friendly trading platform.
The crypto deposit match program will conclude on July 7, with applicable terms and conditions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.