Robinhood CEO: No Plans to Make Money on Cryptocurrency Trading for ‘Forseeable Future’

Robinhood CEO: No Plans to Make Money on Cryptocurrency Trading for ‘Forseeable Future’
Source: Bitcoinist.com

Stock brokerage Robinhood launched no-fee cryptocurrency trading in February 2018 and intends to operate cryptocurrency trading as a breakeven business. Robinhood created its commission-free stock brokerage in 2013, providing major competition to existing fee-based trading platforms. Instead of making money from commission fees on stock and cryptocurrency trades, the company takes its profits from interest earned on cash balances, margin lending, and its premium services. Free Cryptocurrency Trading When Robinhood first announced at the end of January 2018 that it would be launching zero-fee cryptocurrency trading, reactions within the crypto and financial communities were swift. Within just four days of the announcement, more than one million people had signed up for early access to the Robinhood Crypto app. In the days following the app’s official launch in February, growing interest and excitement sparked a flood of new customers – as…

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Bitcoin Funded Silk Road Performance Earns a Residency at Trafalgar Studios

Bitcoin Funded Silk Road Performance Earns a Residency at Trafalgar Studios
Source: Bitcoin.com

Last December news.Bitcoin.com reported on the theatrical version of people using the deep web in a play called the “Silk Road: How to Buy Drugs Online.” Since then the play got rave reviews after appearing at the world-famous Edinburgh Fringe and the Vault festival. Now due to the show’s popularity, the performance is hosting the production at the well-known theatre London’s Trafalgar Studios for a twenty-day residency.   Also read: The Bitcoin-Culture Invasion: T-Shirts, Hats, Candles, Mugs, and More The Silk Road Theatre Production Written by Alex Oates Receives Rave Reviews Just before the end of the phenomenal 2017 cryptocurrency run news.Bitcoin.com reported on a play that appeared in the UK called the “Silk Road: How to Buy Drugs Online.” The performance has been funded entirely in BTC when an anonymous person donated funds towards the production. The play, written by…

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Robinhood Happy to Make No Money on Cryptocurrency Trading

Robinhood Happy to Make No Money on Cryptocurrency Trading
Source: Livebitcoinnews.com

Robinhood, the trading platform, is on a roll, amassing over 4 million users. The company’s co-CEO, Vlad Tenev, said that they are quite happy making no money at all on cryptocurrency trading. There are plenty of options for those seeking to trade cryptocurrencies. One negative aspect of trading is dealing with fees, which invariably add up. However, trading platform Robinhood is offering free cryptocurrency trading, and the company is quite happy not making any money off such trades. Fee-Free Trading At the beginning of this year, Robinhood shook up the cryptocurrency space by offering free trading on its platform for Bitcoin and Ethereum. The program has paid off in spades since then. Immediately after the launch of free cryptocurrency trading, the platform added 200,000 new customers per day. Robinhood has ridden the crypto wave to amazing success. The company now…

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Stellar in Negotiations to Purchase Chain for $500 Million XLM

Source: Btcmanager.com

Negotiations are underway for Stellar to purchase Chain, a blockchain tech startup, for $500 million worth of Stellar Lumens (XLM). Stellar Eyeing to Scoop Chain Engineering Talent San Francisco-based blockchain company, Chain, built a platform called Sequence. Sequence is described by Chain as a “ledger-as-a-service that enables organizations to securely track and transfer balances in a token format.” A tool like Sequence could make software development more accessible for development teams as they could focus on scaling their products rather than on maintaining ledger infrastructures. Stellar’s motivation for the acquisition of Chain remains unknown, but the purchase could be driven by Stellar’s immediate need for top-notch blockchain developers. Since there are few of those around, it is not uncommon for tech platforms to buy a firm to either integrate a firm’s existing technology or get the firm’s developers working on…

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