Online broker Robinhood is perfectly positioned as an independent company and does not intend to be acquired by cryptocurrency exchange FTX or competitor Charles Schwab. This was stated by the company’s CEO, Vlad Tenev.

“We have a strong balance sheet. We have a great team […], we are implementing the product roadmap at a speed never seen before. So I would rotate the question 180 degrees,” explained the top manager.

During a conference call with analysts, Tenev noted that as of June 30, the company had $6 billion in cash and cash equivalents. Robinhood can use the money to buy new startups that can accelerate its long-term goals.

The CEO reminded users of the creation of a non-custodial Web3 wallet that will give users full control over the cryptocurrency and direct access to the DeFi and NFT segments.

Throughout the year, Robinhood customers will receive a separate standalone app with the ability to trade, trade and store digital assets with no network fees. According to Tenev, the number of users on the waitlist continues to increase.

Separately, the head of the company touched on the issue of listing crypto assets on the platform. According to him, a conservative approach on this issue will bear fruit in the long run. It drew close attention SEC acceptance by competitors of assets that the regulator considers to be unregistered securities.

Remember, Robinhood announced on the eve of a 23% cut in staff. The company reported a net loss per share of $0.34 in the second quarter, with monthly active users down 1.9 million to 14 million.

Earlier, the New York State Department of Financial Services fined $30 million for breaching the cryptocurrency division of an online broker. AML– cybersecurity norms and policies.

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