Christine Brown, the chief operating officer of Robinhood, complimented the Shiba Inu community but said that safety was the platform’s priority above the “short-term advantage” of adding new currencies.
Brown made the remarks during an interview for the Crypto Goes Mainstream event, which was live-streamed on YouTube on Tuesday. When questioned about her Shiba Inu (SHIB), she stated:
“One of my favorite things is seeing the community around these coins really engage with us and let us know what they want.”
Brown, though, refused to comment on whether the American stock and cryptocurrency trading software would include Shiba Inu. With a market valuation of $30 billion, SHIB is now the 11th-largest cryptocurrency.
The community has boosted up its efforts to get Robinhood to list SHIB, and a Change.org petition has now gathered more than 500,000 signatures.
According to Brown, Robinhood is a “safety-first company” that carefully considers the regulatory feasibility of its listings.
“Our strategy differs from a lot of the other players out there right now, who are rushing to list as many assets as possible,” she explained.
“We think that the short-term gain to us is not worth the long-term tradeoff for our users.”
Brown also stated that Robinhood’s crypto wallet queue has topped 1.6 million users. When it is released, the crypto wallet will finally allow users to move coins on and off the platform. The increased demand implies that people are ready to gain control of their currency.
SHIB is currently trading at $0.00005430 on CoinGecko and has been on a downward trend since Nov. 3 when a wallet containing about $5.7 billion of the coin resurfaced.