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Robinhood to Reduce Headcount by 23% After Its Crypto Division Hit With $30M Fine

  • Robinhood has been dealt a double blow — with the company unveiling plans to lay off hundreds of staff in the wake of a $30 million fine.
  • New York’s Department of Financial Services said the penalty was being imposed on Robinhood’s crypto division for “significant” anti-money laundering, cybersecurity and consumer protection violations.

[Via]