Christine Brown, the chief operating officer (COO) at Robinhood has recently talked about the growth of Shiba Inu (SHIB). She praised how the second-largest meme coin has gained a tremendous amount of growth in recent months.
Although Christine Brown talked about the growth of Shiba Inu and how valuable it has proven to be, she also talked about the risks involved with it.
Christine Brown stated that in recent months, Shiba Inu has demonstrated a similar kind of growth and adoption rate as Dogecoin (DOGE). In early January of 2021, it was Dogecoin, the largest meme coin in the crypto-verse that rose to glory. It continued gaining all-time highs and soon after, it was ranked among the top 10 largest cryptocurrencies by market capitalization.
However, Dogecoin has turned out to be bearish since late May of 2021 and its condition doesn’t seem to be making significant progress. This is the only reason why they remained very considerate when choosing Shiba Inu for their platform.
She revealed that they are not going to repeat what they did with Dogecoin. When Robinhood adopted DOGE, it ended up increasing its revenue and profits on a really large scale.
However, as DOGE’s fame faded, so did the profits that Robinhood was able to make by letting their customers invest in the meme coin.
Christine Brown stated that keeping the above concerns and possibilities in mind, they decided to not list during its peak time. She stated that for them, the safety of their users’ funds and investments was at the highest priority.
Therefore, they did not want to take any risks when it came to the safety of their users’ funds and investments. The solution they came up with in order to deal with the situation was to not list the token at all on their platform.
It was during an interview at Crypto Goes Mainstream event where Brown talked about Shiba Inu for the first time. She reportedly talked about the meme coin during the interview that was held on Tuesday, November 9, 2021.
She stated that although they haven’t enlisted it yet, doesn’t mean that they do not want to list it at all. Instead, they want to wait and monitor the Shiba Inu market even more. They want to observe the market and see how Shiba Inu reacts to it in the long run.
Brown also stated that they are going to monitor and see how well Shiba Inu performs in the upcoming days. If the positive trend for Shiba Inu continues taking place, then it is highly likely that Robinhood will officially add it to their charter, and write a new success story for Shiba Inu.