PANews reported on February 24 that the U.S. Securities and Exchange Commission (SEC) has ended its investigation into Robinhood Crypto (RHC). Dan Gallagher, Chief Legal, Compliance and Corporate Affairs Officer of Robinhood Markets, Inc., said: “We appreciate the SEC staff’s decision to end this investigation without taking any action. It needs to be made clear that this investigation should not have been launched at all. Robinhood Crypto always respects federal securities laws and will never allow securities trading. As we explained to the SEC, any case against Robinhood Crypto will fail. Thanks for the formal end of this investigation. It’s great to see the SEC return to the rule of law and commit to fairness.”

The U.S. Securities and Exchange Commission issued a Wells Notice to Robinhood Crypto in May 2024. Perhaps affected by the latest news, Robinhood shares rose slightly by 2.4% in pre-market trading, while the stock closed 7.9% lower than the opening on Friday.