Investing system Robinhood is obtaining further into the news enterprise.
The firm, which has prolonged provided the monetary publication Snacks, stated Tuesday (Jan. 17) it experienced formed Sherwood Media, a subsidiary that “will be a residence for news and details about the markets, economics, enterprise, technology, and the tradition of revenue.”
The web-site will be led by Joshua Topolsky, founder and former editor-in-chief of The Verge and co-creator of its guardian enterprise Vox Media. He is also the former main electronic written content officer for Bloomberg.
“The tale of dollars is the tale of lifestyle — from athletics and leisure to the biggest small business and tech information of the working day, to geopolitics and further than,” Topolsky mentioned. “These stories do not just stay in a terminal they participate in out in our life each and every day.”
Sherwood Media designs to start a suite of new editorial offerings all through the year, the launch mentioned. In an interview with Axios on Tuesday, Topolsky explained he designs to use dozens of staffers, together with editors, reporters and social media written content creators.
He reported he also ideas to launch newsletters devoted to certain places of enterprise and funds, such as kinds that include bigger-profile firms like Disney.
Robinhood released Treats in 2012. In an earnings connect with in 2021, the business introduced its initial massive content distribution offer with Snapchat, producing Robinhood Snacks out there to the millions on that social media platform.
The headlines dealing with Robinhood of late have ordinarily involved collapsed crypto company FTX, whose founder Sam Bankman-Fried would like Robinhood stock seized by the U.S. returned to him, arguing the shares are his home.
Bankman-Fried’s lawyers stated the shares are not element of the FTX bankruptcy situation, nor is the organization that owns them — Emergent Fidelity Know-how, of which Bankman-Fried owns 90%.
The lawyers said in a court docket filing previously this thirty day period that while FTX debtors have unsuccessful to show that they would be “irreparably injured” by denial of the declare to the shares, Bankman-Fried requires some of the belongings to fund his criminal defense.
“Mr. Bankman-Fried has not been uncovered criminally or civilly liable for fraud, and it is incorrect for the FTX Debtors to inquire the Court to merely presume that almost everything Mr. Bankman-Fried ever touched is presumptively fraudulent,” his lawyers stated in a court filing.
Robinhood’s CEO has explained he’s not guaranteed what Bankman-Fried will do with his shares, assuming he receives entry to them.
“I’m not amazed that it is a single of the additional important property they have on their equilibrium sheet mainly because it is general public company’s stock,” Vlad Tenev explained final thirty day period in a Bloomberg interview.
“We never have a ton of information and facts that you fellas really do not have,” he reported. “We’re just looking at this unfold and … it is going to be locked up in personal bankruptcy proceedings, most probable for some time. And so we’re just form of looking at how that performs out.”
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