TechFlow news — Robinhood CEO Vlad Tenev said Wednesday his company has taken a stand for its customers, calling it "unacceptable" that cryptocurrency is not accessible to Americans.
In the same interview, Tenev also noted that his company had met with the SEC 16 times before receiving a Wells notice. According to CNBC, Tenev responded to questions about the company's quarterly results, stating that its cryptocurrency trading volume grew by 224% in the first quarter of this year. He added that negotiations broke down after 16 meetings with the SEC, and the company learned it would face future enforcement action from the regulator. The report indicated that the SEC issued a Wells notice to Robinhood on May 6, signaling potential securities violations.
