Stock and cryptocurrency-trading stage Robinhood has disabled immediate deposits for cryptocurrency buys as of Jan. 29, mentioning”market conditions that are extraordinary “
Consumers are still able to purchase cryptocurrency with settled funds which have been deposited, but such deposits may take up to five business days to clear.
A Robinhood spokesperson informed CNBC that the business would”keep tracking market conditions and communication with our clients.
Robinhood has confronted recent criticism for suspending trading in several of classic stocks, such as GameStop, which were being encouraged by international investors to the detriment of Wall Street hedge funds.
The suspension of immediate purchasing power for crypto throughout the trading program comes hot on the heels of the identical set of retail investors, headed by Redditors in the r/WallStreetBets subreddit, pumping Dogecoin (DOGE) to spike 900%.
Meanwhile, the Bitcoin (BTC) has been pumping, getting $5,000 in a couple of minutes, after Elon Musk shifting his Twitter bio to only”#bitcoin.”