Martine Paris talked with crypto pundits, Jimmy Song, venture partner at Blockchain Capital and author of Programming Blockchain; Alex Frenkel, GM of Kin Ecosystem; Michael Terpin, CEO of Transform Group and co-founder of BitAngels; and Alex Mashinsky, founder and CEO of Celsius Network. What follows are their views on the likely causes of the wild parabolic swings.
In April 2018, Millennial trading app Robinhood announced it would soon be available in a handful of states. Complex banking regulations in each state meant that they had a lot of hurdles to get over before they could offer their free crypto and stock trading services in all 50 states. But in January RobinHood announced they had finally gotten a New York State “Bitlicense”, one of fintech’s highest hurdles. Users in New York State can now trade on Robinhood as of May 23.
In a surprise announcement over the weekend, Tyler Winklevoss, co-founder & CEO of crypto exchange Gemini, tweeted, “Let’s play a game: Spot the @Gemini Crypto Bus. Reply to this tweet with your pics and #CryptoBus, best one wins 1 bitcoin (BTC). Right now they are in San Francisco, Chicago, and Washington D.C. Happy hunting!”
Robinhood positions themselves as this big company that wants to change the system. They cite Occupy Wall Street as their turning point. But Bloomberg found that they don’t even mention on LinkedIn that during Occupy, they were designing software for high frequency trading operations.