SEC’s Shocking Decision: Robinhood Crypto Off the Hook! 😲

by

So, guess what? The U.S. Securities and Exchange Commission (SEC) has decided to drop its lawsuit against Robinhood Crypto. I mean, really? What were they even thinking? 🤔

They’re not going to pursue any enforcement action. It’s like they woke up one day and said, “Eh, let’s just forget about it.” Classic! 🙄

And Robinhood’s CEO, Dan Gallagher, is over here applauding the decision like it’s some kind of Olympic gold medal. He claims it should have never been opened in the first place. Well, Dan, maybe you should’ve thought of that before, huh? 😏

Now, Robinhood shares (HOOD) are up nearly 2% in pre-market trading. But let’s not forget, they just took a nosedive of almost 8% on Friday. It’s like a rollercoaster ride, but without the fun! 🎢

Back in May 2024, Robinhood got a Wells notice from the SEC. You know, the kind of notice that makes you think, “Oh great, here we go again.”

But now, the shares are seeing a little bump, probably because the market was already prepared for this. It’s like they had a crystal ball or something. 🔮

Oh, and last week? The SEC dropped the Coinbase lawsuit too! The crypto industry is throwing a party, and Coinbase didn’t even get a slap on the wrist. It’s like they walked away from a car crash without a scratch. Lucky them! 🍀

Now, the SEC is expected to just drop all non-fraud cryptocurrency cases. They’ve gutted their enforcement unit and demoted their chief litigator. It’s like a bad sitcom over there! 😂

Read More

2025-02-24 16:28