Robinhood (NASDAQ:HOOD) experienced a widespread outage during Monday’s market open (October 6), leaving thousands of users unable to trade both stocks and cryptocurrencies on the platform.
The disruption quickly led to a wave of complaints on social media, with users criticizing the company’s digital infrastructure and lack of reliability. The outage hit at a sensitive time for Robinhood, which had recently expanded its crypto offerings and launched new structured investment products linked to Bitcoin.
Shares of Robinhood slipped 0.4% in morning trading, hovering near $148.11.
Meanwhile, Mike Novogratz’s Galaxy Digital (NASDAQ:GLXY) seized the moment to unveil GalaxyOne, a new retail investment app offering commission-free trading across more than 2,000 stocks, ETFs, and cryptocurrencies. The launch sent Galaxy Digital’s shares up roughly 9% in early trading.
GalaxyOne also features income accounts that pay 4% annual interest on deposits and investment notes yielding up to 8% annually for qualified investors with a minimum investment of $25,000 — appealing to traders seeking a mix of stability and strong returns.
The new platform aims to bridge traditional and digital finance, directly appealing to the same retail investor base that helped propel Robinhood’s early success.
This marks Robinhood’s second major outage in less than two months, following a Base network disruption in August, reigniting concerns over the resilience of its trading technology amid growing competition from emerging fintech platforms.
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