Robinhood subpoenaed by SEC as part of major crypto regulatory shakedown

Robinhood Markets Inc (NASDAQ:HOOD) received a subpoena in December 2022 from the US Securities and Exchange Commission (SEC) related to listing and custody of cryptocurrencies on its subsidiary, Robinhood Crypto, the hybrid trading platform has disclosed. The probe forms part of a major push by the US securities regulator into the cryptocurrency sector following a year of unprecedented turmoil that saw the collapse of former crypto titans FTX, Terraform Labs, Three Arrows Capital and many more.