Robinhood, the popular online brokerage platform, has successfully completed a significant share repurchase agreement, acquiring $605 million worth of shares from Emergent Fidelity Technologies. The company filed an 8-K form with the US Securities and Exchange Commission (SEC) to officially announce the agreement. The Board of Directors authorized the pursuit of repurchasing the remaining 55 million shares that Emergent Fidelity Technologies had acquired in May 2022.Jason Warnick, Chief Financial Officer of Robinhood, expressed his satisfaction with the completion of the share purchase, stating: “We are happy to have completed the purchase of these shares and look forward to executing on our growth plans on behalf of our customers and shareholders.”On-chain analytics platform Arkham Intelligence indicates that Robinhood controls a staggering 1.72 million Ethereum (ETH), making it the fifth-largest holder of the digital asset. As of August 30, this Ethereum stash alone is valued at approximately $2.93 billion. The platform’s overall cryptocurrency portfolio exceeds $6.6 billion in value. Bitcoin (BTC) and Ethereum comprise over half of this substantial asset pool. Robinhood also holds considerable amounts of Chainlink (LINK), estimated at $30 million, and Avalanche (AVAX), valued at around $29 million.The current global cryptocurrency market capitalization is $1.08 trillion, reflecting a decrease of -3.56% over the past 24 hours. Presently, BTC holds a market cap of $504 billion, signifying a Bitcoin dominance of 46.46%. In contrast, Stablecoins account for a market cap of $125 billion, representing an 11.53% share of the total cryptocurrency market capitalization.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	8
People	Sam Bankman-Fried, Jason Warnick
Companies	CoinGecko, Emergent Fidelity Technologies, Arkham Intelligence, US Securities and Exchange Commission (SEC), Robinhood
Currencies	Chainlink, Avalanche, Shiba Inu, Ethereum, Bitcoin
Securities	None