Robinhood Markets’ COO Christine Brown said at Decrypt’s live event Tuesday. shiba inu He said that he is not competing to list popular, trending coins such as the coin because the platform’s short-term gains would not be in the interests of its users.
When asked about the Shiba Inu, Robinhood’s overseer of all crypto operations and compliance first praised the SHIB community:
“One of my favorite things is seeing the community around these coins really interact with us and let us know what they want.”
Brown added that Robinhood does not intend to follow in the footsteps of Coinbase, which aims to list every coin legally possible. “I think our strategy is a little different from many other players currently competing to list as many assets as possible,” he said.
“We think the short-term gains we can get are not worth the long-term trade-off for our users.”
For now, Robinhood only has seven tokens listed, and dogecoin is the newest addition to its roster. That’s a far cry from the 100+ assets Coinbase lists.
According to CoinMarketCap, Shiba Inu’s recent stunning rally has prompted some retail investors to call Robinhood to add the coin, which is currently the 11th largest cryptocurrency by market valuation. It gained almost 570% in one month, compared to the 20% increase in Bitcoin, the largest cryptocurrency by market cap.
Brown, who took the job in April, stressed that Robinhood is “a company that puts security first” and that it “really considers everything from a regulatory perspective”.
Despite its cautious stance and striving for customer safety, Robinhood announced on Monday that the personal information of millions of its customers was exposed in a data breach last week. The hackers obtained a list of the email addresses of about 5 million people and the full names of a different group of about 2 million people.