Robinhood Growing Its Crypto Team 'Hugely' This Year Says CEO

Tenev had been answering a question from a customer who wished to see the platform "take a bite out of Coinbase."

AccessTimeIconMar 19, 2021 at 11:37 a.m. UTC
Updated Sep 14, 2021 at 12:29 p.m. UTC

Vlad Tenev, CEO of brokerage platform Robinhood, said the company is planning to grow its crypto team "hugely" this year.

  • Speaking in a video Q&A with customers, Tenev said Robinhood wants to "make a huge investment and hire a ton of people" for its crypto business.
  • He referred to the recent spike in demand the platform has witnessed with 6 million new customers trading crypto for the first time this year just by the middle of February.
  • The Robinhood CEO had been answering a question from a customer who wished to see the platform "take a bite out of Coinbase."
  • "We hear you on that," Tenev responded, adding that the platform's focus is to ensure the system is stable and reliable to be able to respond to exponential growth.
  • Robinhood announced Wednesday it has hired former Google executive Apanra Chennapragada as its first chief product officer.

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