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.
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
The U.S. economy added 272,000 jobs in May, far more than expected. But that number doesn't tell the whole story. Interest rate cuts could still be on the way.
