Good news: Robinhood throws in the towel

Received today:

An update on Robinhood UK

Hi there,

We’re saddened to share that we’ve made the difficult decision to postpone our UK launch indefinitely. We’ll be closing our waitlist and taking down our UK website shortly.

*The world has changed a lot over the past several months and we’re adapting with it. On a company level, we’ve come to recognise that our efforts are currently best spent on strengthening our core business in the US and making further investments in our foundational systems. *

*Since we announced our intent to launch in the UK, we’ve been fueled by your excitement for Robinhood and humbled by your response. We’re sorry that we cannot deliver the product we promised you this year. *

Although our global expansion plans are on hold for now, we will continue our work to democratise finance for all and we look forward to the day when we can bring this mission to the UK.

The Robinhood UK Team

Wrong forum but good news for FT, which I had just also picked up.

Oops sorry. Edited.

How is this good news?

@betjoan This has been in discussion elsewhere in the forum already…

Robinhood Discussion