Robinhood platform warns Dogecoin 2021 fall - "limited trading experience" and any new regulation could hurt its stock price - The financial services and e-commerce platform Robinhood has initiated the process to go public in the United States, with the filing of an initial public offering (IPO), before the Securities and Exchange Commission (SEC). In the same document, the company lists the risk factors that could harm them and cause the price of their shares to fall.

Although many of these factors are common to all companies in the sector, the fact that Robinhood was a pioneer in free stock trading and its recent immersion in the cryptocurrency world causes some particular dangers to affect it.

Robinhood platform warns Dogecoin 2021 fall:: Since March 2020, says Robinhood, they experienced a "substantial growth" in their number of customers. The fact that people were obliged to stay at home, they say, significantly increased orders as well as interest in personal finances. There were, encrypted in the company, 18 million accounts they had at the end of March 2021.

With the progressive disappearance of restrictions, they fear that this shift in trend will stop and recognize that they may not be able to maintain the client portfolio they have achieved.

Robinhood platform warns Dogecoin 2021 fall

Robinhood says it has grown so quickly in such a short time that its financial performance could be affected if it cannot manage its growth effectively.

The online trading platform was launched in 2013 and began allowing users to buy and sell some cryptocurrencies in 2018. Since then it has had several problems with offering new products.

Robinhood platform warns Dogecoin 2021 fall: Dogecoin, the virtual currency that was born from a meme, has come to account for 34% of its income from cryptocurrency trading. Such dependence, logically, causes that, if interest in dogecoin drops, the company could be seriously affected.

In addition, they also point out that the growing regulatory framework around the crypto ecosystem and regulatory research, to which Robinhood is already being subjected, could also hurt their business. The effect on this platform would also come, they explain, by changes in U.S. tax laws, such as some increases proposed by the Biden administration.

Robinhood platform warns Dogecoin 2021 fall

They highlight in Robinhood that their brand and reputation are 2 of their”most important assets". Therefore, they state, “any negative publicity could cause a negative effect on the company, and even lead to cybersecurity attacks, accusations of fraud, proposed regulatory actions or litigation, and failure to comply with legal and tax requirements.”

They further warn that, if hacked, customers could lose their cryptocurrencies: "If we cannot access our private keys or if we experience a hacked or other data loss related to cryptocurrencies, our customers may not be able to trade them and our reputation and business could be harmed," they noted.

Robinhood platform warns Dogecoin 2021 fall

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11,907 Spaniards declared incomes higher than 600,000 euros in 2019, according to data from the Tax Agency

Prior to the arrival of Covid-19, the Spanish economy was on a path of recovery since 2013, with growth rates exceeding 2% since 2015, which translated into an improvement in income indicators for Spaniards, after leaving behind the harshest years of the financial crisis.

The years of recovery prior to the pandemic resulted in a significant increase in the number of taxpayers with incomes above 21,000 euros, but especially in the higher income brackets, from 60,000 euros.

In turn, there was a decrease in income with a greater number of taxpayers (between 6,000 and 21,000 euros), with a shift of part of these taxpayers to the lower brackets, with a higher percentage of taxpayers in the brackets without income or with less than 6,000 euros per year than there was in the year 2013.

This is clear from the latest statistics of taxpayers of the Income Tax of Individuals (IRPF), published by the Tax Agency and corresponding to the year 2019, that is, elaborated on the income that taxpayers received in the year 2018 and declared the following year.

More in detail, a total of 11,907 taxpayers declared income from work in the annual income tax in 2019 higher than 600,100 euros, which represents an increase of 4.7% compared to the previous year, when that figure was 11,367 people.

Despite representing a number, a quasi-testimonial of the total, representing 0.05% of the total 21,02 million of taxpayers in that year, if we compare the data with the year 2007, with the start of the previous economic crisis, financial, show an increase of 12.5%, the passing of 10.580 filers with those high rents to the more than 11.900 of the latest statistics.

In addition, the taxation of these taxpayers has recovered noticeably in recent years, after falling in previous years, going from the 190,451 euros on average that they paid to the treasury in 2007 to the 227,529 euros that they paid in 2019. Compared to 2018, when they paid an average of 232,135 euros, they registered a decrease of 2%.

In any case, most taxpayers (4.39 million, 20.8% of the total) declared returns of between 12,000 and 21,000 euros and another 3.53 million returns of between 21,000 and 30,000 euros (16.79% of the total), while 1.55 million income TAX settlements (7.4% of the total) were in the lowest tranche, between 0 and 1,500 euros for the whole year.

In addition, 3.33 million (14.93%) reported between 1,500 and 6,000 euros per year in income from work and another 2.22 million (10.6%), between 6,000 and 12,000 euros. A total of 1,076,576 declarations, 5.12% of the total, registered a negative and zero declaration result.

With these figures, 76.6% of the income TAX settlements of the year 2019 corresponded to income from work of up to 30,000 euros, with just over 16 million taxpayers.

On their side, almost 4 million taxpayers recorded income between 30,000 and 60,0000 euros, 19% of the total. From this range, the number of respondents is lower.

Specifically, 794,093 filers presented income from work between 60,000 and 150,000 euros per year, barely 3.8% of all settlements, although they grew by 6.8% compared to the previous year; while the number of taxpayers belonging to the declaration tranche of between 150,000 and 600,000 euros rises to 106,695, 0.51% of the total, with an increase of 6%.

From there, a total of 11,907 taxpayers declared incomes higher than 600,000 euros, 0.06% of the total and 4.7% more year-on-year. In this way, the set of taxpayers with incomes above 60,000 euros already reaches 912,695, 6.7% more than the year 2018, and even exceeding the levels prior to the previous crisis.

These data are also explained by the variation in the total number of returns, which rose by some 400,000 taxpayers in one year, to 21.02 million taxpayers.