The shares of Robinhood climbed on Tuesday after the firm announced that it would launch a 24/7 phone line to improve customer service.

The phone assistance service will be available for both crypto and stock trades, according to the business. The business stated that any requests for assistance must be made through the Robinhood app.Robinhood Logo and symbol, meaning, history, PNG

The announcement last week by Fed Chairman Jerome Powell that the US has no plans to regulate cryptocurrencies has boosted the popularity of digital assets even more. The cryptos have also defied the Chinese central bank's caution against crypto trading last month.

Cryptocurrencies accounted for more than half of Robinhood's $451 million in income from transactions on the platform, with $233 million. According to the business, more than 60% of Robinhood accounts traded cryptocurrency in the second quarter.
Retail traders from the Reddit gang and elsewhere flocked to the platform to trade cryptocurrencies and stocks, boosting revenue by 131 % to $565 million in the second quarter.

However, while many things went well in the second quarter, the corporation cautioned that the third quarter will see far fewer new funded accounts.