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
Elon Musk Defiantly Defends Himself in Tesla Tweet Trial
Elon Musk returned to federal court to defend himself against a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout that the billionaire defiantly insisted Tuesday he could have pulled off, had he wanted.
The Carbon Footprint Of Your 401k
David Brooks, financial advisor and CEO of Retire Smart, joined Cheddar News to discuss some of the mutual funds in your 401k whose portfolios include companies that can contribute to climate change. Investment vehicles to combat climate change or fight for social justice are available to choose from and are becoming popular inside the retirement workplace plans.
Load More