A recently as December,Robinhood said it expected its 3,800-strong headcount to continue to grow.
(Picture: AP)The boss of US trading app Robinhood has fired almost a quarter of its workforce as retail investors quit the platform amid falling crypto prices.
The value of assets held by the California-based business plummeted 31% in the three months to June, as almost two million users left the app. The firm posted a net loss of $295 million (£242 million), while transaction fees for stock trading sunk 19% to $29 million.
