Robinhood is introducing a social media platform within its app called Robinhood Social, enabling users to post trades, follow other investors, and track market movements from notable figures. The platform aims to enhance transparency by verifying trades and allowing users to view performance stats of post authors. A beta version will be available to 10,000 users in early next year.

Robinhood has reported a dip in its cryptocurrency trading volumes for April, raising some concerns among investors. However, Mizuho Securities analysts believe there is no significant cause for alarm despite the downturn.

Robinhood's stock has surged back to record highs, largely driven by a significant boom in the cryptocurrency market. The company's revival is attributed to increased trading activity among retail investors, who are capitalizing on the recent rise in digital asset values.

eToro Group, a competitor of Robinhood, is seeking to raise $500 million through an initial public offering (IPO) in the United States. The firm aims to leverage its strong brand and growing user base to capture a larger share of the market in the increasingly competitive trading landscape. The IPO is part of eToro's strategy to expand its offerings and enhance its financial position.