{"id":64398,"date":"2023-11-13T17:01:24","date_gmt":"2023-11-13T21:01:24","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=64398"},"modified":"2023-11-13T17:02:12","modified_gmt":"2023-11-13T21:02:12","slug":"google-leaves-crypto-friendly-broker-robinhood","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/google-leaves-crypto-friendly-broker-robinhood\/","title":{"rendered":"Google Leaves Crypto-Friendly Broker Robinhood"},"content":{"rendered":"\n

The parent firm of Google, Alphabet Inc., has sold all of its shares in Robinhood, a financial brokerage service<\/a> that accepts cryptocurrencies.<\/p>\n\n\n\n

\"Google
Google Leaves Crypto-Friendly Broker Robinhood<\/figcaption><\/figure>\n\n\n\n

After recently deciding to liquidate its entire investment in the financial services platform, Alphabet, the parent company of Google\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, no longer owns any stock in Robinhood Markets Inc., the operator of the popular trading app. <\/p>\n\n\n\n

Alphabet and Robinhood started working together when the latter was still an unlisted business. The trading platform was luring investors in simultaneously with its commission-free trades and user-friendly layout. <\/p>\n\n\n\n

The IT company had acquired up to 4.9 million Robinhood shares by the end of 2021. When Robinhood succeeded in August 2021, and its shares rose to $85, Alphabet's stake was estimated to be worth $419 million.<\/p>\n\n\n\n

In a filing with the US Securities and Exchange Commission<\/a>, Alphabet explained why it decided to sell every share of Robinhood. Notably, the IT behemoth has been progressively distanced from Robinhood for a while now. <\/p>\n\n\n\n

Google's parent company reduced its ownership of the cryptocurrency-friendly business by nearly 90% a few months ago, leaving it with just 612,214 shares in Robinhood. <\/p>\n\n\n\n

According to a Reuters assessment, these remaining shares were valued at almost $7 million until they were liquidated on November 13. <\/p>\n","protected":false},"excerpt":{"rendered":"

The parent firm of Google, Alphabet Inc., has sold all of its shares in Robinhood, a financial brokerage service that accepts cryptocurrencies. After recently deciding to liquidate its entire investment in the financial services platform, Alphabet, the parent company of Google , no longer owns any stock in Robinhood Markets Inc., the operator of the […]<\/p>\n","protected":false},"author":43,"featured_media":64400,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[11144,1936,1223],"class_list":["post-64398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-alphabet","tag-google","tag-robinhood"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/11\/croc_1699906931298.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/64398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=64398"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/64398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/64400"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=64398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=64398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=64398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}