We want you to hear directly from us on our approach to crypto safety and reiterate:It’s business as usual at @RobinhoodApp
We don't lend crypto or leverage against it. Our customers' assets are completely segregated from any firm activity.
Crypto is one portion of our business. We are a publicly traded US company, meaning we are required to report on the state of our business and our financials every quarter. Our balance sheet is strong with no debt and 6B in cash.
We have multiple trading venues, perform regular audits and have strong risk controls in place to manage different scenarios.
Settled cryptocurrency is held in our custody, not by any third party. Nearly all of your crypto is held in cold storage. Some is held in hot storage to support day-to-day operations. We also continue to roll out the Robinhood Wallet for people who prefer self-custody.
Crypto deposits and withdrawals are operating as usual. Transfers typically take a few minutes, but can take up to 24 hours if they get flagged for manual risk review. We have limits in place to protect our customers and the firm’s funds.
We cover 100% of direct losses due to unauthorized activity in your accounts. You don’t pay a subscription for this coverage. Robinhood is a safety-first company by design - ensuring the security of your funds is our top priority.