Ark Invest, led by Cathie Wood, has significantly increased its stake in Robinhood by purchasing 45,792 shares, valued at over $800,000, during a recent market downturn.
This move aligns with Ark’s strategy of investing in technology stocks during dips.
The addition follows a period of decline for Robinhood’s stock, which dropped more than 22% over the past month.
Despite this, Ark Invest’s recent acquisitions also include substantial investments in Coinbase and Alphabet, reflecting confidence in the tech sector’s rebound.
Robinhood’s latest quarterly report showed a remarkable 161% increase in crypto revenue, contributing to a recent 10% recovery in its stock price.
Bank of America highlights growing retail engagement and positive operating leverage as factors driving optimism for Robinhood’s stock.
CEO Vlad Tenev has observed that, despite market volatility, investor interest remains strong, with many choosing to buy rather than sell Robinhood shares.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.
Anchorage Digital, a federally chartered crypto custody bank, is urging its institutional clients to move away from major stablecoins like USDC, Agora USD (AUSD), and Usual USD (USD0), recommending instead a shift to the Global Dollar (USDG) — a stablecoin issued by Paxos and backed by a consortium that includes Anchorage itself.
Ethereum co-founder Vitalik Buterin has voiced concerns over the rise of zero-knowledge (ZK) digital identity projects, specifically warning that systems like World — formerly Worldcoin and backed by OpenAI’s Sam Altman — could undermine pseudonymity in the digital world.
A new report by the European Central Bank (ECB) reveals that digital payment methods continue to gain ground across the euro area, though cash remains a vital part of the consumer payment landscape — particularly for small-value transactions and person-to-person (P2P) payments.