Robinhood Ventures Into Finance News Coverage

Investing system Robinhood is having deeper into the news enterprise.

The enterprise, which has prolonged supplied the economical newsletter Treats, mentioned Tuesday (Jan. 17) it had shaped Sherwood Media, a subsidiary that “will be a dwelling for information and information about the markets, economics, enterprise, technologies, and the lifestyle of funds.”

The web page will be led by Joshua Topolsky, founder and previous editor-in-main of The Verge and co-creator of its guardian corporation Vox Media. He is also the previous chief digital content material officer for Bloomberg.

“The story of funds is the story of tradition — from sports activities and enjoyment to the greatest organization and tech news of the day, to geopolitics and over and above,” Topolsky mentioned. “These tales don’t just reside in a terminal they perform out in our life each and every day.”

Sherwood Media plans to start a suite of new editorial offerings all over the calendar year, the release said. In an job interview with Axios on Tuesday, Topolsky mentioned he programs to employ dozens of staffers, including editors, reporters and social media content creators.

He claimed he also programs to start newsletters devoted to particular areas of organization and finances, such as types that include increased-profile corporations like Disney.

Robinhood launched Snacks in 2012. In an earnings phone in 2021, the firm introduced its initial major articles distribution deal with Snapchat, generating Robinhood Snacks available to the thousands and thousands on that social media system.

The headlines dealing with Robinhood of late have commonly concerned collapsed crypto organization FTX, whose founder Sam Bankman-Fried desires Robinhood stock seized by the U.S. returned to him, arguing the shares are his property.

Bankman-Fried’s lawyers reported the shares are not aspect of the FTX bankruptcy scenario, nor is the business that owns them — Emergent Fidelity Technologies, of which Bankman-Fried owns 90{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}.

The lawyers explained in a court docket filing earlier this month that when FTX debtors have unsuccessful to clearly show that they would be “irreparably injured” by denial of the claim to the shares, Bankman-Fried demands some of the assets to fund his prison protection.

“Mr. Bankman-Fried has not been located criminally or civilly liable for fraud, and it is incorrect for the FTX Debtors to inquire the Court to only assume that anything Mr. Bankman-Fried ever touched is presumptively fraudulent,” his attorneys claimed in a court submitting.

Robinhood’s CEO has reported he’s not certain what Bankman-Fried will do with his shares, assuming he receives access to them.

“I’m not surprised that it’s one of the far more precious belongings they have on their harmony sheet because it is public company’s inventory,” Vlad Tenev said past thirty day period in a Bloomberg interview.

“We really do not have a good deal of details that you guys really don’t have,” he said. “We’re just seeing this unfold and … it’s heading to be locked up in personal bankruptcy proceedings, most most likely for some time. And so we’re just sort of viewing how that performs out.”

PYMNTS Information: Why Consumers Are Attempting Electronic Wallets

A PYMNTS examine, “New Payments Choices: Why Individuals Are Hoping Digital Wallets” finds that 52{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} of US people experimented with out a new payment technique in 2022, with numerous selecting to give digital wallets a try out for the to start with time.

Francis McGee

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