Media: Robinhood delays IPO amid SEC review of crypto-trading service

A crypto-friendly platform Robinhood plans to conduct IPO by July 4. The listing planned for June had to be postponed due to the SEC‘s review of its cryptocurrency business, Bloomberg.

Robinhood filed with the U.S. Securities and Exchange Commission a filing for an IPO as early as March 24.

According to the publication’s sources, the platform’s stock-market debut may ultimately not come until autumn.

The app, launched three years ago, supports trading Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic and Litecoin. In the first quarter, Robinhood’s user base grew by a factor of 5.6.

Earlier, the platform faced regulatory complaints about outages and marketing. In March, Robinhood valued the settlement of the dispute with FINRA at $26.6 million.

The company also found itself at the centre of the scandal around GameStop, Dogecoin, and Reddit traders. Its co-founder and CEO Vlad Tenev had to testify at hearings before the United States Congress.

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