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Robinhood announced via Twitter, the listing of Avalanche (AVAX) and Stellar (XLM) on the Robinhood platform, both coins have outperformed much of the crypto market.
Ethereum challenger Avalanche and XRP rival Stellar are enjoying a rally this month, with AVAX up 32% over the past two weeks and XLM up 16% over the same timeframe. The addition comes in the midst of the trading giant struggles to endure what they claim stems from the current bear market.
Robinhood recently announced another layoff, this time a 23% slash in workforce; describing the staff reduction as part of a broader structural reorganization.
CEO and Co-Founder Vlad Tenev explained in a message, the need for further reduction as the 9% layoff didn’t go far enough.
He stated:
Since that time, we have seen additional deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash. This has further reduced customer trading activity and assets under custody.
