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robinhood

Robinhood is an American financial services company whose mobile application facilitates commission-free trading of stocks, exchange-traded funds, cryptocurrencies, and individual retirement accounts.
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Pre-market data: Cryptocurrency concept stocks generally rose, MSTR increased by 5.78%

During the traditional market's weekend closure, the perpetual contract types of stocks in the exchange may have already priced in the market conditions. According to RootData, cryptocurrency concept stocks have generally surged significantly in pre-market trading:Strategy (MSTR) contract is currently priced at $162.81, up 5.78% from the last trading day's official closing price of $153.92;Coinbase (COIN) contract is currently priced at $201.47, up 3.72% from the last trading day's official closing price of $194.25;Circle (CRCL) contract is currently priced at $95.06, up 3.57% from the last trading day's official closing price of $91.78;Robinhood (HOOD) contract is currently priced at $123.95, up 3.45% from the last trading day's official closing price of $119.82;AMD (AMD) contract is currently priced at $577.46, up 3.15% from the last trading day's official closing price of $559.82;Micron Technology (MU) contract is currently priced at $1,040.67, up 2.45% from the last trading day's official closing price of $1,015.80;Meta (META) contract is currently priced at $682.04, up 2.45% from the last trading day's official closing price of $665.75;Tesla (TSLA) contract is currently priced at $370.73, up 1.77% from the last trading day's official closing price of $364.27;SanDisk (SNDK) contract is currently priced at $1,821.27, up 1.64% from the last trading day's official closing price of $1,791.82;NVIDIA (NVDA) contract is currently priced at $224.96, up 1.21% from the last trading day's official closing price of $222.27;

Analysts: Coinbase, Robinhood, and Circle may be early beneficiaries of the SEC's tokenized stock policy

According to CoinDesk, the U.S. SEC has launched a five-year innovation exemption that provides a pathway for eligible tokenized U.S. stocks to be traded through automated market makers (AMM) on public blockchains. Analysts from Goldman Sachs and Citizens believe that Coinbase, Robinhood, and Circle could become early beneficiaries of this policy.The new framework requires tokens to retain shareholder rights such as dividends and voting rights while imposing limits on the number of stocks and trading volume that trading platforms can offer. Goldman Sachs stated that Coinbase's existing tokenized stock products already possess several of the required features, and its institutional custody business and Coinbase Tokenize may also benefit.However, Coinbase's current trading platform uses a centralized limit order book, and to operate a trading venue directly under the exemption, it will still need to build AMM infrastructure or route trades to decentralized trading platforms on Base.Currently, the stock tokens offered by Robinhood for markets outside the U.S. are derivatives that only provide price exposure and do not possess the complete shareholder rights required by the framework, thus requiring further adjustments to the product. Robinhood has previously stated plans to add 1:1 redemption and voting rights features for stocks.Analysts also believe that an increase in on-chain securities trading may drive demand for tokenized cash, benefiting Circle indirectly, with USDC potentially being used for settlement and collateral in on-chain markets.

Two Robinhood employees have been sued for insider trading for pre-positioning through Hyperliquid before the coin listing

On September 15, local time, the U.S. Attorney's Office for the Southern District of New York (SDNY) announced that two Robinhood engineers, Hefu Chai and Huaisong Xiang (also known as Jerry Xiang), have been charged with commodity fraud and wire fraud for allegedly trading Hyperliquid perpetual contracts using non-public information from the company.SDNY stated that during their tenure at Robinhood, the two had access to confidential information regarding the launch of new tokens and their launch timelines from Robinhood Crypto. Between 2025 and 2026, they are accused of repeatedly purchasing Hyperliquid perpetual contracts for the corresponding tokens before the company publicly announced the launch of those tokens, profiting after the news broke, with each allegedly earning over $50,000. Prosecutors emphasized that although perpetual contracts are traded on blockchain derivative platforms, they still fall under accountable financial instruments.U.S. Attorney Jamie McDonald stated that corporate insiders cannot evade relevant securities and commodities market laws by trading perpetual contracts, tokenized securities, or other similar financial products. The 36-year-old Chai will appear in court in the Northern District of California, while the 30-year-old Xiang will appear in federal court in the Southern District of New York. The maximum penalty for violations of the Commodity Exchange Act they face is 10 years in prison, and for wire fraud, up to 20 years in prison. SDNY emphasized that the contents of the indictment at this stage are merely allegations, and both defendants are presumed innocent until proven guilty in court.
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