Robinhood Chain halted block production for more than 14 minutes Friday, leaving transactions stalled on the Layer 2 network during U.S. trading hours.
The network stopped producing blocks at around 12:57 p.m. UTC, leaving token transfers and smart contract transactions stuck. Block production later resumed, although the network showed signs of further instability. Robinhood has not explained what caused the halt.
Robinhood Chain Faces Network Disruption
On-chain data showed a buildup of transactions at the block where production stopped. Users continued submitting transactions during the outage, but the network did not confirm them until block production resumed.
Block production eventually resumed, although explorer data showed periods of instability afterward. Robinhood has not disclosed what caused the halt or provided a detailed explanation of the disruption.
Related: AMC CEO Criticizes Robinhood Over Tokenized Stock Offering
The outage comes as tokenized stocks gain traction across blockchain networks. Data from RWA.xyz showed the number of tokenized-stock holders reached about 2.60 million in August, up sharply from roughly 1 million previously.
Robinhood Chain, BNB Chain and Solana accounted for about 95% of tokenized-stock holders, highlighting the growing activity around blockchain-based equities.
HOOD Shares Slide as Chain Recovers
Robinhood Markets shares opened at $120.48 Friday, down from Thursday’s close of $124.72. The stock fell as low as $118.30 before recovering to $122.81.
The decline represented a broader market move, and available market data did not establish a direct connection between the HOOD sell-off and the Robinhood Chain outage.
Separately, Pendle launched a yield-trading market on Robinhood Chain. Its sNET market is scheduled to mature on September 17.
The disruption comes just two months after Robinhood Chain launched its mainnet, adding scrutiny to the network’s reliability as blockchain-based financial activity expands.
Related: Balancer Gives Hacker Sept. 8 Deadline to Return Funds or Face Action
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