Benzinga - by Khyathi Dalal, Benzinga Staff Writer.
Dragonfly partner Omar Kanji highlighted on social media Robinhood‘s (NASDAQ:HOOD) affinity for meme coins, pointing to its balance sheet, which includes users owning Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE).
What Happened: Kanji shared a snippet from Robinhood's first-quarter earnings, which showed users holding more Dogecoin ($7.36 billion) than Ethereum’s ($5.63 billion). Bitcoin holdings were the highest ($10.4 billion), following positive crypto industry developments like spot ETF launches and the Bitcoin Halving.
Q1 '24 Update – Robinhood $HOOD users now own $1.8b more $DOGE ($7.4b) than $ETH ($5.6b). $BTC still the largest crypto asset on their platform at $10.4b.Their users love memes and it's clear why they added $WIF in Europe and why they'll add others in the future https://t.co/537FIO4aj5 pic.twitter.com/sJSOJvHrAs
— Omar (