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).
Employees at a Buffalo, NY, area Starbucks voted to establish a union due to ongoing staffing issues, demands for higher pay, and complaints about non-functioning equipment. The development could clear the path for other locations across the country to unionize.
Caleb Silver, Investopedia Editor-in-Chief, joined Cheddar to break down Lululemon's Q3 earnings beat. Men's sales drove revenue up over the quarter, a key area that the company would want to grow, Silver said. He also noted that its $500 million acquisition of at-home fitness startup company Mirror could be a detriment for the company with its sales outlook slashed as more people head back into physical gyms and supply chain disruptions continue.
VMG Consumer Acquisition Corp, a blank check company targeting consumer and retail companies, has officially hit Wall Street. The company listed its $200 million IPO on the NASDAQ, trading under the ticker symbol 'VMGAU.' Aarti Kapoor, CEO of VMG Consumer Acquisition Corp, joined Cheddar Movers to discuss.
Goldman Sachs is getting into the holiday giving spirit with its sixth annual Analyst Impact Fund competition. The Shark-Tank style contest gives Junior Analysts the chance to pitch a charity of their choice to senior leadership, with the winner being granted $250,000 to donate to their chosen non-profit. The team representing Lime Connect, the world's largest network of people with disabilities, has taken home this year's top prize. For more on this, Jim Esposito, Goldman Sachs Co-Head of the Investment Banking Division, and Julian Sanchez, one of this year's winners, joined Cheddar Movers.
Sprinklr CEO Ragy Thomas joined Wake Up With Cheddar's Baker Machado to discuss the customer experience company's latest earnings report and forecasts for future growth.
The markets saw a two day rally, hitting highs not seen since as far back as March. Melissa Armo, founder and owner of the Stock Swoosh explains what lead the charge, and what to expect as the year comes to a close.
Wall Street saw major gains Monday, with the Dow Jones jumping nearly 650 points, the S&P 500 moving higher by 1.1% and the Nasdaq by .9%. Ross Mayfield, Investment Strategy Analyst at Baird, breaks down why investor concerns about the Omicron variant may have been a bit too preemptive.
