Robinhood introduces feature aimed at protecting investors from crypto volatilit

[RSRS]

Stock and cryptocurrency trading app Robinhood is reportedly exploring a way for users to be better protected from volatile crypto prices.

According to a Tuesday Bloomberg report, the trading app is working on a feature called “price volatility protection,” which would modify certain crypto orders depending on fluctuations in price. A message in the feature’s code says Robinhood “may sometimes skip your recurring orders or buy less than your chosen amount” to protect trades from price volatility, but will inform users before taking such action and never purchase more than the amount selected.

“We’ve been doing a lot of work behind the scenes to provide our crypto customers with the functionality that they’ve been asking for,” said Robinhood CEO Vlad Tenev. “We want to introduce new features safely, and there’s a lot of items we have to get right from the start."

Reports of the proposed feature come after Robinhood briefly suspended instant deposits for crypto purchases in January. The trading app cited "extraordinary market conditions" at the time, likely referring to retail investors from Reddit pumping Dogecoin (DOGE) — the token surged more than 900% at the time and has been volatile throughout the year, rising to an all-time high price of $0.68 in May.

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