In brief Robinhood is letting go of 10% of its employees, CEO and co-founder Vlad Tenev told the company Tuesday. In April, the company indicated revenue from crypto transactions had fallen 34% sequentially to $134 million from $221 million. At the end of last year, the retail brokerage had around 2,900 full-time employees. Robinhood disclosed on Tuesday that it’s letting go of 10% of its employees, attempting to streamline operations amid a severe downturn in crypto-related revenue.The company is reducing its headcount alongside efforts to flatten its organizational structure and support “a lean, hyper-focused team,” CEO Vlad Tenev told employees,…

Bybit, one of the world’s top cryptocurrency exchanges by trading volume, has launched options trading on Tether Gold (XAUT), a token that provides you ownership of real physical gold.The XAUT options are now live and allow traders to hedge risk, speculate on gold price movements, trade volatility, and build custom strategies through Bybit’s Request for Quote (RFQ) system for over-the-counter (OTC) deals.Bybit partnered with Orbit Markets, a leading options market maker active in both crypto and traditional finance to ensure deep liquidity from the start. Orbit’s team brings significant expertise, including former senior executives from precious metals trading desks, notably…

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