Robinhood can’t tackle the Dogecoin rally

Yesterday and these days, the enthusiasm for joke cryptocurrency Dogecoin confused Robinhood, foremost to “sporadic crypto get failures and delayed notifications for some clients,” Robinhood wrote in a blog write-up.

“These interruptions are not acceptable to us,” Robinhood wrote in its article. “We feel we’re the most intuitive crypto system for Dogecoin traders and we’re happy to be a best decision for this community.”

Robinhood has a historical past of exactly this form of whoopsie. In March 2020, there were being 3 huge outages which Robinhood has claimed were owing to “strain on our infrastructure.” And infamously, in January, Robinhood limited trades on GameStop, pissing off the overall web and receiving alone hauled in front of Congress in the approach since it hadn’t prepared for anything approaching the scale of Gamestonk.

Appear, the app is extremely really and easy to use, but if it fails all through the most vital shopping for and selling durations, are buyers heading to stick with it? Regardless of whether you make dollars on your Dogecoin trade issues more than than how awesome the application is. Besides, there is the now-community Coinbase system to trade cryptocurrency on anyway — even if it does not aid Dogecoin.

The Robinhood submit, frustratingly, does not go into the complex aspects that could have allow users know how severe the failure was, or why it transpired. When asked for remark, Robinhood declined to say anything at all on the history past the blog post.

In conclusion, I have to when once again beg for the Robinhood S-1, which I have to have in buy to reside. I must know what the risk things segment looks like, and if these sorts of outages are considerable adequate to the organization to be shown there.

Update 6:44PM ET: Adds that Robinhood declined to remark.