What Robinhood's Crypto Trading Means for Coinbase
There's a new exchange in the crypto game, and it could have the power to shake things up. Users in five states can now trade Bitcoin and Ethereum free of charge on Robinhood. Meanwhile, Coinbase overtime has been considered the go-to place to buy the top cryptocurrencies. Boost VC's Founder and Managing Director Adam Draper explains what he thinks of this emerging cryptocurrency market.
"I actually don't look at them as competitors," says Draper. "Robinhood is coming at it from an asset management side, where Coinbase is coming at it from a crypto platform side. I think the long-term impact of both of these concepts is going to be vastly different from one another."
Draper was an early investor in Coinbase, and his fund is also an investor in the company.
Johann Kerbrat, VP and General Manager at Robinhood joins Cheddar to discuss Bitcoin's recent rise and how the company got into election betting. Watch!
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