A new generation of investors, crypto, and Robinhood

Robinhood customers are at the forefront of a generational change in the financial markets, and that’s playing out again this week in cryptocurrency. Interest in Dogecoin has exploded over the past two days. Its price has skyrocketed nearly 7-fold and Dogecoin remains a top trending topic on Twitter.

So where do our customers fit in?

As one of the few platforms where customers can purchase Dogecoin, our platform is right at the center of this surge. For context, Robinhood rose to the #1 downloaded free app on the Apple app store.

On Thursday evening, interest in Dogecoin surged as it rose past 25 cents, putting extreme pressure on crypto trading systems. As we processed orders, one of our systems failed, which brought down our crypto order system. The system was recovered in about an hour, meaning customers could trade with some intermittent issues. We were back to normal within two hours.

On Friday morning, we saw a similar spike in activity as Dogecoin rose to nearly 50 cents. For Robinhood this led to sporadic crypto order failures and delayed notifications for some customers.

Our top priority is to provide great service to our customers. These interruptions aren’t acceptable to us. We believe we’re the most intuitive crypto platform for Dogecoin traders and we’re proud to be a top choice for this community. Our teams are working around the clock to provide you with the highest level of service possible, and as interest in crypto continues over the weekend, we may continue to see intermittent service interruptions. We’ll keep you updated on Twitter and on our status page.

This generation of investors is reshaping the industry. Robinhood customers are leading a wave of change as they take control of their financial lives. We’re committed to scaling at the same velocity at which our customers are changing the world.