Robinhood Markets cuts 10% of workforce, laying off 290 employees

Robinhood Markets cut roughly 290 full-time positions on June 16, 2026, absorbing an estimated $28 million in restructuring charges while the company’s trading volumes sit at all-time highs. A Lean Team at Peak Volume The company filed a Form 8-K with the SEC disclosing a reduction in force affecting approximately 10% of its full-time workforce. […]

On Monday, Robinhood Markets announced that it had finished buying up WonderFi, a digital asset services business located in Toronto, for $180 million. Bitbuy and Coinsquare, two licensed cryptocurrency platforms in Canada, are run by WonderFi. Users of both will be asked to stay on the Robinhood app when they are

Robinhood Markets has closed its acquisition of WonderFi, a Canadian leader in digital asset products and services, marking the US trading platform’s formal entry into Canada and pushing its total international funded customer base past 1 million for the first time, per the company’s official announcement on June 1, 2026. Related Reading: The Bitcoin Retracement Rally And The Resistance Level That Could End It All WonderFi operates two of Canada’s longest-standing regulated crypto platforms — Bitbuy and Coinsquare — both of which will now carry the Robinhood brand. The approximately 300,000 funded customers already using those platforms transfer directly into Robinhood’s ecosystem, per the announcement, representing one of the more meaningful immediate user acquisitions any crypto-facing platform has made through an M&A transaction in recent memory. BTC's price trends to the downside on the daily chart, Source: BTCUSD on Tradingview  What Canadian Users Get For Canadian customers, the