Robinhood's crypto unit hit with $30m fine over security, anti-crime misses
with the US Securities and Exchange Commission from last year, in which Robinhood disclosed the multi-million-dollar fine before the company went public.
"We remain proud to offer a more accessible, lower-cost platform to buy and sell crypto and are excited to continue to grow our business in a responsible manner with new products and services that our customers want."$70 million bill In June 2021, the US Financial Industry Regulatory Authority ordered the biz to cough up $57 million in fines plus pay back $12.6 million to customers to cover their losses with interest. That year, Robinhood recorded $1.8 billion in revenues, up 89 percent in 2020, which it managed to turn into a $3.7 billion net loss.
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