Robinhood shares tumble 5% after employees charged in crypto fraud..
Robinhood shares fell 5.3% to $104.59 after two employees, Hefu Chai and Huaisong Xiang, were charged with allegedly using confidential information about crypto listings to profit from trades. Prosecutors say each made more than $50,000. The employees were designated 'Coin Aware Individuals,' barring them from trading around new listings. An attorney for Xiang has said he denies the charges.
Robinhood shares fell 5.3% to $104.59 after two employees, Hefu Chai and Huaisong Xiang, were charged with allegedly using confidential information about crypto listings to profit from trades. Prosecutors say each made more than $50,000. The employees were designated 'Coin Aware Individuals,' barring them from trading around new listings. An attorney for Xiang has said he denies the charges.
