Robinhood Banking is 'cooking', CEO says

Investing.com -- Robinhood Markets (NASDAQ: HOOD) CEO Vlad Tenev announced Tuesday that its banking division has exceeded $1.5 billion in deposits from nearly 100,000 funded customers.

The company's CEO shared on X that deposits have increased approximately 50% during that time frame.

"The team is cooking," Tenev said.

As a comparison, at the end of January, the company said it had over 20 thousand customers depositing approximately $300 million.

Robinhood Banking just launched in November 2025.

Shares of Robinhood rose 6% Tuesday, supported by broader market strength and a rebound in Bitcoin prices.

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