Robinhood hits new low as FTX US and Bitstamp USA move into stocks

Crypto exchanges FTX US and Bitstamp USA are working on offering stock trading, which would be a further blow to Robinhood as its share price slumps to new lows.

FTX US President Brett Harrison tweeted on Tuesday that the crypto exchange is “hard at work on stocks,” commenting that a launch would be coming in “a couple months.”

We’re hard at work on stocks! Features we’re planning for day 1:

-Live BBO and historical candles
-Stock screening/search functionality
-Basic fundamentals (market cap, P/E ratio, dividend yield)
-Portfolio performance tracking, order/trade details

What else should we have?

— Brett Harrison (@Brett_FTXUS) January 11, 2022

This isn’t FTX’s first dalliance with stocks. Back in Oct. 2020, the global arm of the crypto exchange launched a feature to allow its customers to access fractionalized trading in tokenized stocks.

And Bitstamp USA CEO Robert Zagotta said in a Jan 14 interview with Bloomberg that the exchange is considering entering stocks,

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