Robinhood may be super popular with millennial traders, but it won’t overthrow Coinbase in the crypto world. That’s according to Adam Draper, founder and managing director at start-up accelerator Boost VC. Also a Coinbase investor, he says he doesn’t view the companies as competing platforms. “If you think long-term, they’re both looking at [trading digital coins] from completely different sides,” he told Cheddar. “Robinhood is coming at it from an asset management side, where Coinbase is coming at it from a crypto platform side.” Robinhood Crypto went live in five states Thursday, offering zero-fee trading and promising a roll out more broadly in the coming months. While some argue the no-commission strategy could take share away from Coinbase, Draper says the platform has a different target audience. “With Coinbase Custody, they’re rolling out to institutional investors,” he said. “Robinhood is much more focused on the consumer, millennial generation.” For the full interview, [click here](https://cheddar.com/videos/what-robinhoods-crypto-trading-means-for-coinbase).

Share:
More In Business
The New Subscription Plan for X
Elon Musk announced two new subscription tiers for people who want the premium experience. This, as some users in some countries may have to pay a very small fee to access the platform for more. Cheddar News' senior reporter Michelle Castillo explains.
Rite Aid to Close Over 100 Stores
Rite Aid is set to close more than 100 stores with efforts currently underway to try to sell dozens of stores across a dozen states.
Load More