Robinhood Markets LLC’s planned initial public offering (IPO) is reportedly facing delays in its bid to go public because of its growing cryptocurrency business.
- A report by Bloomberg on Thursday cites several people close to the matter who say the U.S. Securities and Exchange Commission have slowed plans for the stock trading app maker's IPO.
- Robinhood had been aiming for a June listing after initially filing in March. The goal now is to list next month ahead of the July 4 holiday weekend.
- Yet, the timing could once again fall short and may slip into the autumn, according to the report, which cited a source wishing to remain anonymous because the matter was private.
- Robinhood has faced scrutiny from regulators this year who allege the site encourages the game-like nature of trading, especially when it comes to inexperienced retail traders.
See also: Robinhood to Reveal IPO Filings as Early as Next Week: Report
Disclosure
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.