Dogecoin in Robinhood’s Custody Reaches $2,800,000,000+ As Trading App Denies Formal Partnership With Twitter
Retail trading giant Robinhood now holds more than $2.8 billion worth of Dogecoin (DOGE) for its customers, according to Dogecoin Whale Alert.
The DOGE-transaction tracker reports that the trove in Robinhood’s custody now represents 25.17% of Dogecoin’s circulating supply.
Dogecoin has been in the news in the past few months as rumors about possible integrations circulated after the world’s most high-profile DOGE supporter, Elon Musk, purchased Twitter for $44 billion last October. Musk has talked about his intention to bring fintech services to the popular platform.
DOGE soared earlier this month amid reports that Twitter is building software to add a payments function for its social media users.
Though Robinhood has a prominent role in the DOGE ecosystem, the company’s CEO, Vlad Tenev, said this week in an earnings call they don’t have any plans at the moment to partner with Musk’s Twitter.
“We’ve been speaking to the folks over at Twitter for a while and heard about what they were doing with the stock pages and crypto pages on their platform and we got excited to create an investing experience that gives value to their customers and makes it easier to deep-link to the Robinhood app.
You’ll see us experimenting with more things like this over time. As of now, we don’t have any plans to expand or form an official partnership with Twitter.”
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