Twitter’s New Crypto and Stocks Feature Links to Robinhood

As Elon Musk continues to intestine Twitter on account of his personal hubris, it’s odd to listen to of a brand new—probably useful—characteristic coming to the platform. The social media platform introduced this week the combination of tickers for inventory and crypto costs in search outcomes and tweets.

The firm referred to the characteristic as $Cashtags in a tweet from Twitter Business. Users can enter the image of a significant inventory, ETF, or cryptocurrency with a greenback signal within the entrance (e.g. $BTC for Bitcoin) straight into the search bar to be greeted with a chart that shows the worth chart and present valuation of the inventory/crypto. Users may click on straight on the greenback signal notation in the event that they see it in a tweet, which can carry them to the identical show.

According to CoinDesk, Twitter is just not constructing the characteristic utterly from scratch, however will as a substitute depend on assist from an organization referred to as TradingView. Likewise, after accessing the worth chart, a button can take you to a stay value chart of the inventory or crypto’s worth on Robinhood. Twitter’s collab with Robinhood has some customers frightened though it’s unclear whether or not the 2 have shaped any formal partnership with this new launch.

“You really partnered with RobinHood on this?” wrote consumer BTan121. “Let me take a wild guess on what happens with the data.”

“How much is robinhood paying y’all for this,” tweeted ParikPatelCFA.

“Only problem is, Robinhood scammed everyone during The Gamestop Pump. We won’t forget this,” stated JasonRobergeVA.

Robinhood is a monetary providers firm, greatest recognized for its inventory buying and selling app of the identical identify. The firm had an enormous hand in making inventory buying and selling extra accessible, however can also be no stranger to huge controversy. In January 2021, day merchants noticed a chance in GameStop inventory being a profitable goal, taking to the subreddit r/WallStreetBets to precise their enthusiasm and get different merchants on board. The GameStop inventory continued to balloon over the next days, till Robinhood restricted buying and selling. This determination is the antithesis of the corporate, which inspires free buying and selling for the small investor—it’s referred to as Robinhood for God’s sake.

The firm naturally confronted a ton of backlash and even calls for government action within the wake of GameStopGate, whereas the notion that the corporate might flip buying and selling on and off at will was uncovered. As such, consumer skepticism about Twitter utilizing Robinhood as a part of this new characteristic—particularly because the former is being held along with metaphorical duct tape—is pure.