Robinhood to Allow Deposits, Withdrawals for Cryptos Including Dogecoin

Robinhood to Allow Deposits, Withdrawals for Cryptos Including Dogecoin


Online brokerage app Robinhood says it plans to enable withdrawals and deposits of cryptocurrencies including dogecoin.

In a tweet Wednesday, the app provider said it “fully intends” to provide the extra functionality, though not date is provided for when it might be activated. Currently, traders can only buy and sell crypto assets within the app, according to its support page.

The tweet came an hour before Bloomberg published an article alleging Robinhood was the owner of the world’s largest dogecoin wallet. Robinhood stated in the tweet that it “does not currently invest in cryptocurrency or use any customer cryptocurrency” for its own benefit.

Robinhood cited “extraordinary market conditions” as the primary reason, before later saying its clearing firm raised the fees for conducting transactions beyond what Robinhood could afford to pay.

The company raised $3.4 billion in an emergency fund during the volatile period.

The decision to “limit instant buying

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