By Tyler S - Wallet Specialist - 30-07-2021
Even though most IPOs have a lock up period of 6 months, Robinhood isn’t a traditional IPO and will let its employees sell 15% of the company's stock immediately after it goes public.
Shares of Bitcoin (BTC) trading app Robinhood's public NASDAQ debut on Thursday fell over 8%, making it one of the worst initial public offerings (IPO) debuts of its magnitude.
In the company's first trading session on Thursday, Robinhood's HOOD stock fell 8.4% below its IPO price, falling from $38 to $34.82. The firm had recently gone public on Nasdaq with a $32 billion valuation, but the market worth has fallen to $29 billion after the HOOD stock closed the session.
As reported in Bloomberg data, the corporation's first trading day was rock bottom on record among 51 start-ups that collected the same amount of money as Robinhood or more. As reported by CNBC, Robinhood had sold about 52.4 million shares, raising over $2 billion, with co-founders Vlad Tenev and Baiju Bhatt each selling approximately $50 million available.
Robinhood quickly gained popularity within the cryptocurrency trading industry when it started to sell crypto giants like Bitcoin and Ether (ETH). The company's crypto-focused segment has witnessed significant growth this year, with Q1 revenue increasing sixfold over the past quarter.
If you are looking to Buy and Sell cryptocurrency but you’re not sure where to find a good crypto broker; you can safely invest with BC Bitcoin today. You can do this by easily registering an account with us and contacting a member of staff if you need any support.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards