Robinhood is Not Racing to List Shiba Inu, Short-term Gains not in company’s Interest, Says COO Christine Brown

Vinod Dsouza

Robinhood is not racing to list Shiba Inu on its platform, confirmed its crypto division COO Christine Brown. The COO of Robinhood had a sit-down with Decrypt Editor-in-Chief Dan Roberts at the ‘Crypto Goes Mainstream’ live event.

Christine revealed that the short-term gains which Shiba Inu brings on the table for Robinhood is not in the interest of its users.

When Dan Roberts asked Christine Brown about listing Shiba Inu on Robinhood, the COO brushed the question aside saying, ”We’re not going to talk about it.”

”The first thing is that we’re not going to talk about it,” said Christine and continued that other platforms are blindly running a race to list popular coins on their platform and Robinhood is not considering it as an option.

Christine stated that Robinhood’s strategy is different. ”I also think that our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now,” she said.

In addition, Christine laid the final blow on SHIB’s Robinhood dream and said, ”We think that the short-term gain we might get is not worth the long-term trade off for our users.”

In addition, Christine called Robinhood a ”safety-first company” and continued, ”We want to make sure that we’re working in assessing everything from a regulatory perspective really well.”

Robinhood Has Listed 7 Cryptocurrencies, But No Shiba Inu

Robinhood at present has listed only seven cryptocurrencies on their platform. They include- Bitcoin, Ethereum, Litecoin, Bitcoin SV, Bitcoin Cash, Ethereum Classic and its star performer Dogecoin.

Dogecoin was Robinhood’s revenue bringer as they earned $233 million through cryptocurrencies during Q2. Also, 61% of the revenues came from Dogecoin alone.

However, Doge failed to live up to its expectations and didn’t rise above as expected, its hype fizzled out quickly. Doge’s failure costed heavily on Robinhood as their Q3 results show profits of only $51 million. That is when investors pressurized Robinhood to list Shiba Inu and take the larger share of its revenue pie.

SHIB’s vibrant community can generate good revenues for Robinhood and in return make the coins price shoot upwards. The coin has attracted large fan following and is presently basking in the limelight.

Shiba Inu at the time of publishing was trading at $0.00005416 and is down -4.94% in the 24-hours day trade.