Robinhood has suspended its 24-hour trading feature in response to increased market volatility.
The decision itself was most likely prompted by the fact that financial analysts say fears of a global recession have increased following the dramatic $2.9 trillion drop in the value of stock markets.
The drop, reported on August 2, 2024, is the biggest since March 16, 2020, when the COVID pandemic sparked similar concerns.
The move aims to stabilize trading conditions and prevent excessive risk for investors. Robinhood’s suspension of round-the-clock trading highlights the ongoing challenges in managing market volatility and ensuring a balanced trading environment for consumers.
This is not the first time the company has decided to suspend trading activities.
On previous occasions, such as during the GameStop stock short squeeze in January 2021, the platform took similar measures.
Before stepping into his role as the Trump administration’s key advisor on artificial intelligence (AI) and cryptocurrency, David Sacks divested a substantial portion of his investments tied to digital assets.
MoonPay, a leading Web3 infrastructure provider, has expanded its capabilities with the acquisition of Iron, a developer specializing in stablecoin infrastructure.
Pavel Durov, the founder of Telegram, has reportedly left France and moved to Dubai after receiving court approval.
WLFI, a cryptocurrency project linked to the Trump family, has responded to recent allegations made by major news outlets, labeling them as politically charged and inaccurate.