Robinhood to scrap confetti animation on app after ‘gamification’ criticism
(Reuters) – Robinhood Markets Inc will discard its signature confetti animation that used to mark first trades for purchasers on its shopping for and promoting app, following criticism from politicians and regulators.
Starting subsequent week, clients will see new choices marking milestone moments, along with first-time money deposits, first investments or for sign-ups for Robinhood Gold, its premium membership offering, the online brokerage talked about in a weblog put up on Wednesday.
The switch comes weeks after Robinhood’s digital confetti animation was criticized on the grounds that the company was “gamifying” investing.
The Silicon Valley unicorn startup, which was on the coronary coronary heart of the historic retail shopping for and promoting frenzy earlier this yr, is in the intervening time being probed by U.S. regulators for imposing non everlasting shopping for and promoting curbs on so-called “meme shares”.
During a congressional listening to in February, …