Noting that a recent study cited in the Wall Street Journal found that women make up less than 25 percent of deposits into US brokerage accounts, Robinhood added, “we’re excited by the potential of cryptocurrency to help democratize finance for all.”
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Robinhood CEO Vlad Tenev faced some tough questions after cutting off GameStop buys—now congress is asking them again (Photo: CNN)Robinhood probably profited from traders ‘protesting with Dogecoin’
The exchange apparently became the world’s top Dogecoin holder thanks to its users investing in the coin
When Robinhood temporarily barred its retail customers from buying GameStop stocks, purportedly as a reaction to reddit’s r/WallStreetBets community buying it in an attempt to squeeze out the major hedge funds shorting the video game retailer’s stock, many decided that they would protest by buying Dogecoin instead. However, the plan may have backfired in a big way, according to blockchain analytics firm Elliptic’s chief scientist and co-founder, Tom Robinson.
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Investor Raoul Pal says Bitcoin is "destroying all other assets in the world" (Photo: Digital Cayman)Bitcoin is ‘basically eating the world’: Renowned investor Raoul Pal
The Real Vision founder said that Bitcoin is attracting so much attention he has ‘become irresponsibly long’ BTC, ETH, and a few other cryptos
“Bitcoin is destroying all other assets in the world, and I have never seen this before in my career where an asset has drawn the attention of the likes of Elon Musk and mainstream institutions like no other asset," Pal said. Compared to gold, he added, Bitcoin’s “fixed supply along with its scarcity and its behavioral incentive explains its growth.”
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GameStop is DeFi’s golden moment
When Robinhood shut off its customers in what seemed to be a move to protect its hedge fund masters, the ‘little guy’ focused stock trading app opened the door to crypto’s decentralization
“This was a shot across the bow for institutional investors everywhere,” said Peter Smith, cofounder and CEO of the decade-old cryptocurrency exchange Blockchain.com. “There’s incredible power in decentralized groups of individuals and the future of finance will be built less like Wall Street and more like the internet: by a decentralized group of individuals.”
