Robinhood is apparently ready to face more anger after pulling plug on retail investors seeking to instantly' buy cryptocurrencies on its no-fee app. The broker has temporarily disabled some cryptocurrency purchases just as Bitcoin rose 20% and Dogecoin soared 800% in 24 hours.
"Due to extraordinary market conditions, we've temporarily turned off Instant buying power for crypto. Customers can still use settled funds to buy crypto. We'll keep monitoring market conditions and communicating with our customers," a Robinhood spokeswoman said on Friday.
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