Robinhood is teasing the Shiba Inu community on their Instagram stories by mentioning them in a quiz. ”Robinhood learn: A cryptocurrency is only as strong as” and mentioned three options which read, ”A. Its community, B. Elon Musk wants it to be, C. The # of SHIB comments.”
The top trading platform stressed on the fact that ”A cryptocurrency is only as strong as the community.” Nonetheless, Robinhood mentioning SHIB as one of the answer is a testament to the strength of its vibrant community.
Robinhood ‘When SHIBA’?
The hashtag ‘Robinhood when Shib’ reached a feverous pitch for a month and social media is filled with comments on the topic. The hashtag became a hot topic of discussion and even CNBC host Jim Cramer spoke about it on his show.
During a CNBC segment ‘Mad Money – The Rise of Retail Investor’ the host directly asked Robinhood CEO Vlad Tenev about listing SHIB on the platform.
Vlad paused and smiled before being able to comment and was over-spoken by Cramer. Vlad, however, did not give a straightforward answer but did not confirm that Robinhood will list Shiba Inu.
“We only offer seven coins currently and I think it goes back to safety first. So we’re not generally going to be the first to add any new asset. We want to make sure that it goes through a stringent set of criteria.” he said.
Many crypto platforms had given specific dates about a Robinhood listing and the latest was for November 1, 2021. However, all of the guessing games were fake and SHIB is still not listed on the leading exchange platform.
Dip in Revenue
Robinhood’s Q3 results show the firm’s revenues faced a drastic dip. While it earned $233 million through cryptocurrencies during Q2, its Q3 profits are only $51 million. In Q2, 61% of the revenues came from Dogecoin alone and the coin has now failed to deliver.
Considering Dogecoin isn’t giving them good returns anymore, it won’t be a surprise if Robinhood indeed lists SHIB. At the end of the day, profits and the larger share of the revenue pie is all that matter. Almost every leading exchange has got SHIB on board and Robinhood is missing out on the larger share of the revenue pie.
At the time of publishing, Shiba Inu was trading at $0.00005655 and is down -13.5% in the day’s trade. Robinhood announcing to list Shiba Inu on their platform can make SHIB go parabolic and delete a zero or two.
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