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Robinhood CEO Dismisses Rumors About Partnership Plan With Elon Musk’s Twitter

Vlad Tenev, the chief executive officer (CEO) of the American financial services company Robinhood, has shot down circulating rumors and speculations that his company has plans to partner with Elon Musk‘s social media platform Twitter.

The CEO’s statement came after he responded to a question about the new cashtag feature launched by Twitter, which allows users to see the crypto assets’ prices and links them to the Robinhood app.

“Part of the mission of democratizing finance for all is giving access to the best information whenever and wherever customers need it,” Tenev said during Robinhood’s fourth-quarter earnings call.

“We’ve been speaking to the folks over at Twitter for a while and heard about what they were doing with the stock pages and crypto pages on their platform and we got excited to create an investing experience that gives value to their customers and makes it easier to deep link to the Robinhood app,” he added.

“You’ll see us experimenting with more things like this over time,” the executive said, adding that “as of now, we don’t have any plans to expand or form an official partnership with Twitter.”

Twitter introduced the cashtag feature in December 2022 a few days after it launched Twitter Blue for individuals.

The latest feature, which according to Musk is “one of many product improvements coming to financial Twitter,” enables users to incorporate a clickable link whenever they tweet using the dollar sign ($) and the asset’s stock symbol.

The link brings users to search results where they could find pricing graphs, as well as to the official website of Robinhood.

“Most symbols with and without the $ sign will work in search (QQQ or $QQQ),” the Twitter Business account said in a tweet in December, and assured the community that it will “refine the user experience and expand our coverage of symbols.”

The team also said at the time that Twitter users “can also search for symbols directly, without clicking on a link within a Tweet. Most symbols with and without the $ sign will work in search.”

Last month, Twitter’s cashtag feature launched support for the popular dog-themed altcoin Shiba Inu.

The introduction of the Twitter cashtag feature hyped the crypto community, particularly those hoping that it could be a positive indicator that cryptocurrency payments on the platform are on the horizon.

Unfortunately, despite rumors and speculations, neither Twitter nor its CEO Musk, has not yet confirmed if the feature is in the pipeline despite reports that the chief twit has already formed a team of developers to transform the platform into a payments system with a design that would allow future integration of cryptocurrency functionality.

The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021.
Reuters / Andrew Kelly