Stock trading app Robinhood announced the release of its crypto trading application programming interface (API) for users based in the United States.

On May 30, the investing app revealed its attempt to tap into seasoned crypto traders through an API. The crypto trading API allows US-based traders to set up automated trading strategies. Robinhood believes this will let users react to market movements and be ahead of market trends.

Users can also trade crypto using the API without opening the Robinhood app.

Robinhood crypto trading API
With the API, users can also write their programs interacting with real-time crypto markets. Robinhood said that they can use algorithms and strategies to execute their trades.

Johann Kerbrat, the vice president and general manager of Robinhood Crypto, told Cointelegraph that the API allows their customers to “take full control of their trading strategies” and automate trading. Kerbrat said:

“Developers can create custom products tailored to their specific needs and can build personalized tools for crypto trading.”
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“This automation enables traders to execute trades with greater speed, precision, and efficiency and implement complex trading strategies that may not be feasible manually,” Kerbrat said.

Robinhood targets advanced crypto traders
Although the tool seems to be highly useful, it may not be suitable for everyone. According to Robinhood, the crypto trading API is built for seasoned crypto traders.

Kerbrat explained that this group of users value high-level functions that let them use their technical knowledge to execute complex strategies.

He noted that the API gives these traders analytics, real-time data processing and enhanced security. “We’ve created a dedicated website with API documentation and examples of how customers can use our API,” he added.


The executive added that as their firm continued to see a market share increase, they decided to allow their customers to access advanced trading tools to help them navigate the crypto market.

When asked why users should use their API, Kerbrat claimed they offered the “lowest cost to trade crypto on average.” The executive said customers can “maximize” their offers without added costs with commission-free trading and the crypto API.

Apart from the crypto API, Robinhood also launched a staking service for Solana
SOL holders in Europe. On May 15, the company announced its first crypto-staking product. Users can stake their SOL tokens with the service and receive a 5% yield through the Robinhood app.


Afro-pop star Davido’s management of his newly launched meme token, DAVIDO, has drawn criticism from the Nigerian crypto community. Many believe that a token dump may soon be part of his plans.

According to Lookonchain, Davido made a considerable profit of 2,783 SOL ($473,000) in just 11 hours by selling his DAVIDO memecoin after its launch on May 29. The singer still has an unrealized profit of $207,000.

Davido’s memecoin launch
Davido had received an initial investment of 7.5 SOL (worth $1,275) and then used 7 SOL ($1,190) to create and launch his DAVIDO token on the platform pump.fun, purchasing 203 million DAVIDO tokens, representing 20.3% of the total supply.


Community reacts
Although Davido has remained silent on the issue, his fans and the crypto community have widely criticized his withdrawal of substantial figures from his DAVIDO token stash while encouraging people to buy.

Rume Ophi, a local crypto expert, believes that Davido could have made a more strategic move by advocating for regulatory clarity and exchange licensing in Nigeria’s crypto space rather than launching his own token.

Ophi said Davido’s memecoin risks becoming a pump-and-dump scheme, undermining industry credibility and sparking SEC scrutiny.

Cointelegraph reached out to Davido for comment but had no response by the time of publication.

With followers, many of whom may be inexperienced in cryptocurrencies, this move could lead to widespread financial harm and increased regulatory pressure on legitimate players.

One X user remained disappointed that Davido and his team could not allow the new memecoin to gain momentum. He said they could have made even more money if Davido and his team had handled the launch more strategically.


The user suggested that Davido and his team could have allowed the new token to gain momentum and grow in value rather than selling a large amount of the token (almost $500,000 worth) immediately after its launch.

According to another X user, @Toobbss, Davido has a history of dumping digital coins on his fans, and the recent incident marks the second time he has done so in the past three years, leaving his followers to bear the losses.

Davido had promoted RapDoge in 2021 before dumping over $300,000 on his fans.

Meanwhile, Davido’s moves within the cryptocurrency world come as celebrity meme assets gain traction. Iggy Azalea recently introduced her own token, MOTHER.

However, these celebrity-backed cryptocurrency launches have sparked controversy, leaving investors vulnerable to potential pump-and-dump schemes, which could result in financial losses.