Robinhood has raised a colossal $323 million in its latest funding efforts, making the millennial-focused stock-and-crypto trading app worth approximately $7.6 billion. Despite its mainstream appeal, the “no commission” broker is still worth less than Bitcoin-focused Coinbase, which boasts a valuation of more than $8 billion. Robinhood Touts New Features After $7.6 Billion Valuation The press...
By CCN: Who says millennials don’t like to save and invest their money? By building a commission-free stock brokerage and trading app with a slick interface, Robinhood has built a $7 billion business in just six years. That’s the company’s valuation as it nears a $200 million funding round from its current financial backers, Bloomberg reports. The investment round is still...
By CCN: Robinhood has brought its popular commission-free crypto trading app to New York investors. The California-based startup announced Thursday that it is launching bitcoin, ethereum, and other cryptocurrency trading services in New York. The announcement appeared precisely four months after Robinhood received a BitLicense from the New York State Department of Financial Services (NYDFS)...
By CCN.com: Today, Robinhood and LibertyX gained approval to work in virtual currencies in New York. Robinhood is a stock trading app that recently created some controversy when they released interest-bearing bank accounts that are not protected by the Securities Investor Protection Corporation. Robinhood Crypto The app will expand the company’s affiliation with cryptocurrencies for New Yorkers...
According to a report by Techcrunch, Robinhood, the zero fee trading company based in the United States, is making plans to open an office in London and it has started recruiting to that effect. Various sources in and within London’s FinTech market have confirmed that Robinhood, which was launched back in 2013 and is valued at $5.6 billion, has been working towards the launch of its London...
Robinhood launched its 3% interest “checking and savings” accounts last week. With 3% well over the average rate offered by conventional banks and some key differentials in the insurance that protects investors in Robinhood’s new products, U.S banking organizations are speaking out. The new accounts from the trading platform, at first glance, appear to be like conventional savings accounts, with...
Robinhood, the crypto-friendly stock trading application, recently launched a plan to offer checking and savings accounts. The accounts have a minimum 3% interest. It is part of their plan to become the world’s most used financial technology application. Co-CEO Baiju Bhatt said to CNBC at the time of the announcement: “If we roll this product out, and it’s adopted by millions who love...
Earlier today, two of the world’s hottest fintech startups, the US-based Robinhood and the UK-headquartered Revolut, separately announced new product offerings that could greatly benefit the crypto industry over the long-term and put pressure on bitcoin-hostile banks to begin modernizing their service lines. Bitcoin-Friendly Fintech Startups Want to Replace Banks Revolut, which recently achieved...
Menlo Park-based Robinhood has launched savings and checking accounts for its US customers, according to a company blog post. The new accounts would follow the similar trend that we have become accustomed to: “fee-free, commitment-free and surprise-free” were the words used lavishly on the company’s website. Robinhood, which operates a crypto trading platform in addition to its...
Residents of the 6th most populous U.S. state, Illinois, can now access the cryptocurrency trading services of Robinhood. In a tweeted statement, the trading app disclosed that Robinhood Crypto was now available in the prairie state, making it the 29th state in the U.S. to get the commission-free round-the-clock trading service. Trade winds are blowing in Illinois. You can now use Robinhood...
Robinhood is no doubt quite a revolutionary start-up. They have managed to completely rewrite the rulebook when it comes to retail brokerage and trading. Using a no fees model, they are giving users the opportunity to purchase assets such as equities, Indices and cryptocurrency at the same rate as the institutional markets. Many view them as democratizing the investing space and leveling the...
Robinhood is now in Ohio bringing the number of states that the cryptocurrency and stocks trading app is currently available in to 25. In a tweeted statement, the trading startup indicated that Ohioans can now trade various cryptocurrencies commission-free on the Robinhood app. Some of the cryptocurrencies that the users of the app can trade include bitcoin, ethereum, litecoin, bitcoin cash...
Trading app Robinhood has rolled out its commission-free cryptocurrency trading services to yet another state in the U.S. In a tweeted statement, the financial services firm disclosed that residents of Alaska can now trade Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Ethereum classic and Litecoin on Robinhood Crypto. Alaska, thanks for bearing with us. Trade Bitcoin and other cryptocurrencies...
Jackson Palmer, a product developer at Adobe and the creator of Dogecoin, has said that developers in the crypto community will now have to find a way to encourage users of centralized systems to convert to decentralized applications (dApps). Decentralized systems and applications are significantly less efficient in processing information than centralized platforms. As such, incentivizing users...
Cryptocurrency startup Swarm has an ambitious plan to democratize venture capital, and it has today taken a major step toward that goal by listing tokens that allow investors to purchase fractional shares in privately-owned fintech darling Robinhood. No, Robinhood, a wildly-popular commission-free stock trading app that recently earned a $5.6 billion valuation, isn’t holding a security token...
CNBC Fast Money contributor and BKCM CEO Brian Kelly has firmly emphasized that while bitcoin has seen a massive decline in price over the last 24 hours, investors selling the dominant cryptocurrency based on the delay of SEC in approving the first bitcoin ETF are doing it wrong. Bitcoin Drops 12% While EOS, Bitcoin Cash and Other Tank 20%+ Over the last 48 hours, the crypto market lost $29...
It’s been a tough week for most cryptocurrency investors, as the groundbreaking news that the world’s largest stock exchange operator is launching a bitcoin market failed to translate into bullish price movement. For ethereum classic supporters, however, the week could not have gone much better. Coinbase Pro Begins Taking Ethereum Classic Deposits Over the past two days, ethereum classic has been...
Stock trading app Robinhood has made ethereum classic (ETC) the sixth cryptocurrency listed on its recently-launched crypto trading platform. The $5.6 billion firm unveiled support for ethereum classic on Monday, providing investors in eligible U.S. states with the ability to hold ETC in their portfolios alongside their traditional equities investments. Robinhood has been rolling out...
An Uber co-founder and an E*Trade veteran have teamed up to launch commission-free cryptocurrency trading service that, if successful, could see the firm challenge Coinbase, Robinhood, and a growing number of other competitors to become the venue of choice for retail investors. The platform, named Voyager, aims to capitalize on the fragmentation in the global cryptocurrency spot market. Rather...
The cryptocurrency industry is now having a huge impact on contemporary culture, gaining recognition not only as a part of the financial industry but as a considerable cultural and economic force in its own right. If the latest 40 Under 40 list by Fortune Magazine is anything to go by, a 24-year-old Russian-Canadian programmer from Toronto who only entered the limelight in 2013 is only marginally...
Stock trading app Robinhood has listed dogecoin on its commission-free cryptocurrency trading platform, the company announced on Monday. The parody cryptocurrency, created in 2013, currently ranks as the 44th-largest cryptocurrency, with a circulating market cap of $288 million. At its peak in early January, dogecoin’s market cap swelled as high as $2.1 billion, much to the chagrin of creator...
Rapidly-expanding fintech unicorn Robinhood has added bitcoin cash and litecoin to the growing stable of cryptocurrencies that users can trade on the popular stock trading app. The commission-free stock trading app on Thursday announced that it had onboarded its five millionth user, marking yet another milestone for the firm which achieved a $5.6 billion valuation in May at the conclusion of its...
If established cryptocurrency exchanges didn’t take notice when commission-free trading app Robinhood started offering free cryptocurrency trading earlier in the year, they are likely to now. According to a job advert which appeared on the website of recruitment consultants, Greenhouse, Robinhood is reportedly working on a cryptocurrency wallet of its own. This would allow Robinhood’s customers...
Robinhood, a major stock trading app based in the US, whose valuation surged from $1.5 billion to $6 billion after integrating cryptocurrency, said that the company does not expect to generate large profits in the near future, and the company is fine with it. Vlad Tenev, the co-CEO of Robinhood, said that more than 200,000 new customers registered to Robinhood Crypto on a daily basis following...
Stock trading app Robinhood, which recently began rolling out cryptocurrency trading to many of its US customers, wants to offer its customers savings accounts and other traditional banking services. Bloomberg reports that the $5.6 billion firm, based out of Menlo Park, CA, has already approached regulators at the Office of the Comptroller of the Currency (OCC) about acquiring the licenses...
Cryptocurrency startup Swarm has announced a new security token product that will allow accredited investors to purchase and trade equity in privately-owned tech companies like Coinbase, Robinhood, Ripple, and Didi. Swarm Wants to Tokenize the Equity of Private Companies The product, announced by Swarm on Wednesday, allows investors to pool their assets to obtain private equity in some of the...
Cryptocurrency-friendly stock trading app Robinhood is now valued at $5.6 billion following a mammoth funding round. The fintech startup announced on Thursday that it had raised $363 million in a Series D funding round led by DST Global. “At Robinhood, we’re guided by the belief that America’s financial system should work for everyone – not only the wealthy,” the company said in a statement. “Our...
The competitive landscape for cryptocurrencies is heating up in the United States. Zero-commission startup exchange Robinhood just announced on Twitter its expansion into Colorado. The trading platform unveiled commision-free trading for leading cryptocurrencies bitcoin and Ethereum in the western state. In addition to cryptocurrencies, the Palo Alto, Calif.-based trading platform also supports...
Make sure you check out last weeks post here, now let’s go over what happened in crypto this week. Price Watch: Bitcoin is up 3% this week gaining back some of the 20% it lost last week. The price was largely sideways this week retesting $7,000 and $7,350 before coming back down to $6,980 and failing to hold the $7,000 level. The price was as low $6,500 this week. as Despite this sideways...
Investors can now trade bitcoin and Ethereum for free in a handful of US states. As promised, Palo Alto, Calif-based online brokerage Robinhood Financial has rolled out commission-free trading for bitcoin and Ethereum across California, Massachusetts, Missouri and Montana, the company said on Twitter. As CCN previously reported, users will still be responsible for fees charged by the underlying...
Stock brokerage app Robinhood has begun rolling out its new cryptocurrency trading platform to users in 5 states. Beginning Thursday, users who pre-registered for Robinhood Crypto will begin receiving emails inviting them to participate in an early access program for the platform, which allows investors to trade cryptocurrencies, stocks, and exchange-traded funds (ETFs) side-by-side on a single...
The Bitcoin price declined to an 80-day low on Monday but may be poised for a rebound once stock brokerage app’s Robinhood’s much-anticipated cryptocurrency trading platform goes live later this month. Bitcoin Price Declines to 80-Day Low Despite the hopes of investors, February has not brought respite to the battered cryptocurrency markets, which continue to emit a crimson hue. This...
Cryptocurrency prices went south on Monday after Japan’s Financial Services Agency (FSA) announced that it may conduct on-site inspections of domestic cryptocurrency exchanges in response to Coincheck’s $530 million hack. The Bitcoin price led the retreat with a five percent decline, and most other top-tier coins followed suit. As a rule, Japan has been very welcoming to the nascent...
Update: In a May blog post, BitGo announced that it decided not to follow through the with planned acquisition, instead choosing to launch its own qualified custodian. Digital currency startup BitGo has entered into an agreement to acquire Kingdom Trust, a digital asset custodian that currently serves more than 100,000 clients and manages more than $12 billion in assets. BitGo to Acquire $12...
Commission-free trades are coming to the micro-finance giant Robinhood’s stock trading app. Robinhood is offering the following features to its app: Instant deposits: ACH bank transfers will be immediately available in your account for trading. Commission-free trading: Just like the stocks on Robinhood, cryptocurrency trading will be free. Secure and Established Trading Platform: Robinhood...