Robinhood chief financial officer Jason Warnick claims that multiple requests to list Shiba Inu have not been lost on the company
Robinhood CFO Jason Warnick says the popular online trading platform will keep its options open in response to a question about whether or not it intends to list the Shiba Inu meme cryptocurrency. at the WSJ CFO Network Summit.
Warnick said that countless requests to add more cryptocurrencies have not fallen on deaf ears:
We keep in mind that our customers and others would love to see us add more parts.
The Shiba Inu community has made its wishes heard loud and clear, with its Change.org petition to list SHIB on Robinhood surpassing 550,000 signatures.
The executive explains that Robinhood needs more regulatory clarity before moving forward with new listings. The company went public at the end of July.
As reported by U.Today, the Shiba Inu price jumped 8% after fresh Robinhood rumors started spreading on Twitter. The account of Zerohedge, a right-leaning financial blog, tweeted that Shiba Inu would be added to the commission-free investment platform as early as February. This, of course, should be taken with a large grain of salt given that similar rumors started spreading in October and ended up being fake.
Robinhood has yet to return U.Today’s request for comment.
Dogecoin, the original meme token that has been listed on Robinhood for years, accounted for 62% of Robinhood’s cryptocurrency trading volume in the second quarter of 2021. In Q3, its share slipped to 40% due to waning demand.
Robinhood also saw a 78% quarter-over-quarter decline in revenue from cryptocurrency transactions.
Warnick said that the company did not plan to add a significant amount of crypto to its balance sheet (from $233 million to $51 million);
There are no compelling strategic reasons for our business to invest a significant amount of our corporate cash in cryptocurrencies.
