{"id":1805,"date":"2025-12-08T22:38:46","date_gmt":"2025-12-08T22:38:46","guid":{"rendered":"https:\/\/microvibenews.com\/?p=1805"},"modified":"2025-12-08T22:38:46","modified_gmt":"2025-12-08T22:38:46","slug":"robinhood-launches-staking-for-ethereum-and-solana-in-ongoing-crypto-expansion","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=1805","title":{"rendered":"Robinhood launches staking for Ethereum and Solana in ongoing crypto expansion"},"content":{"rendered":"

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Robinhood is doubling down on crypto offerings. The trading app will launch staking for Ethereum and Solana in New York starting on Tuesday, according to the company, allowing customers to earn yield on cryptocurrency.\u00a0<\/p>\n

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The company will let customers stake in New York and plans to expand across the country. \u201cWe\u2019re proud of the momentum we\u2019ve seen with staking and especially excited that staking is now available to customers in New York, which has one of the most rigorous regulatory frameworks in the country,\u201d wrote Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, in a note to Fortune<\/em>.\u00a0<\/p>\n

Staking has been part of the crypto universe for nearly a decade, rewarding users who lock up a stash of tokens in order to help operate a blockchain network. But uncertainty over its legal status has meant it has been mostly experienced crypto users who have engaged in it using their own wallets.<\/p>\n

In 2023, the exchange Kraken agreed to pay $30 million to settle allegations that it broke the Securities and Exchange Commission\u2019s rules by offering staking. Robinhood\u2019s launching of crypto stakes reflects a looser regulatory environment under President Donald Trump\u2019s administration.\u00a0<\/p>\n

\u201cThese crypto enhancements are strategic chess moves positioning Robinhood for the anticipated transformation of financial infrastructure through blockchain technology and tokenization\u2014particularly with the regulatory clarity we expect under the current administration,\u201d said Caydee Blankenship, senior equity research analyst at CFRA Research.\u00a0<\/p>\n

Robinhood also announced a push into global crypto markets. In Europe, it will add perpetual futures contracts on several coins, and it will also enter the Indonesian market, as it agreed to buy a brokerage and crypto platform in the country.\u00a0<\/p>\n

Robinhood is not new to crypto, as users on the platform have been able to trade Bitcoin and Ethereum since 2018. However, the company has beefed up its crypto arm this year. In June, Robinhood completed a $200 million acquisition of Bitstamp, the world\u2019s longest-running crypto exchange. Crypto transactions accounted for more than 21% of the company\u2019s revenue, as of last month\u2019s earnings report.\u00a0<\/p>\n

Robinhood\u2019s expansion of their digital assets could help them challenge other crypto exchanges, according to Romeo Alvarez, research analyst at William O\u2019Neil. \u201cRobinhood is stepping up its efforts to compete on a global basis with larger trading platforms like Coinbase, Binance, OKX, and Kraken,\u201d he said.\u00a0\u00a0<\/p>\n

The last few days have seen other big banks vie for staking. On Friday, BlackRock filed for a stake Ethereum ETF, the iShares Ethereum Staking Trust (ETHB). The Wall Street giant already has an Ethereum ETF (ETHA), but that one does not have staking components.\u00a0<\/p>\n<\/div>\n

#Robinhood #launches #staking #Ethereum #Solana #ongoing #crypto #expansion<\/p>\n","protected":false},"excerpt":{"rendered":"

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