Does Robinhood Crypto Present a Threat to Coinbase?
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).
Venmo will soon have accounts for teenagers ages 13-17 but they will have to follow a set of rules, with parents or guardians opening accounts on their behalf under their own accounts.
Rory Harvey, General Motors' incoming North American president, joined Cheddar News to discuss GM's foray into the rapidly-changing electric vehicle market along with what lies ahead. "It's a very dynamic time in the automotive industry," he said. "If you look to the transformation across the EVs, it's happening and it's happening at a pace."
Ford Motor laid out some financial expectations and specific growth objectives for its electric vehicle line at an investors' event on Monday. John Lawler, chief financial officer of Ford Motor Co., joined Cheddar News to explain what lies ahead for the automaker.
Teenagers will officially be allowed to open a Venmo account with their parent's permission, the company said Monday, expanding the popular social payments app to an age demographic that is likely to embrace it almost immediately.
Stepping up a feud with Washington over technology and security, China's government on Sunday told users of computer equipment deemed sensitive to stop buying products from the biggest U.S. memory chipmaker, Micron Technology Inc.
