Robinhood: Company Did Not Lend or Leverage Cryptocurrency, Crypto Deposits and Withdrawals Continue as usual

Robinhood, a stock and cryptocurrency trading platform, issued a statement saying, "The company does not lend or leverage cryptocurrencies, and customer assets are completely isolated from any company activities. Cryptocurrencies are part of our business. Our balance sheet is strong and there is no Debt and has $6 billion in cash. We have multiple trading venues, are regularly audited, and have strong risk controls. Settled cryptocurrencies are kept by us, not by any third party. Customers' cryptocurrencies are kept in In cold wallets, some are stored in hot storage to support day-to-day operations. Crypto deposits and withdrawals are available as usual, transfers typically take a few minutes, but can take up to 24 hours if flagged for manual risk review. We provide 100% compensation for direct losses caused by unauthorized activities in user accounts."