Bitcoin 

Robinhood Raises $323 Million in Funding Round Led by DST Global

Cryptocurrency-inclusive trading platform Robinhood has raised $323 million in a recent funding round. Robinhood shared the figure in an official announcement on July 22. As per the report, the investment firm DST Global led the Series E financing round that also included Ribbit Capital, NEA, Sequoia and Thrive Capital as other contributing members.  Additionally, the announcement specifies that this funding round puts Robinhood at a $7.6 billion post-money valuation. Today’s announcement follows previous reports that Robinhood was planning to raise upwards of $200 million to set the firm’s post-funding valuation between…

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Bitcoin 

Robinhood Using Crypto Trade Execution Services From Jump Trading

United States-based stock and crypto trading app Robinhood has reportedly been cooperating with Chicago trading firm Jump Trading LCC to execute crypto trades on behalf of its clients. Bloomberg reported on the matter on May 29, citing anonymous sources. Jump Trading — a small trading firm founded 20 years ago by Chicago futures pits veterans Bill DiSomma and Paul Gurinas — has ostensibly benefited from being an early mover on cryptocurrencies, Bloomberg’s sources have claimed. The firm is known to have made its foray into bitcoin (BTC) trading from at…

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Blockchain 

Trading App Robinhood Set to Raise at Least $200 Million: Report

United States-based stock and crypto trading app Robinhood is set to raise at least $200 million in a new funding round, Bloomberg reported on May 24. Per the report, an unspecified source familiar with the matter told the outlet about the company’s plans to raise further funding. Moreover, Bloomberg reports that the round would increase the firm’s value to between $7 billion and $8 billion, but that the details could change. Other people familiar with the matter also told Bloomberg that the new funds come from existing investors, all of…

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Bitcoin 

Robinhood Zero-Fee Trading App Officially Launches in New York

American stock brokerage Robinhood Crypto has officially launched its zero-fee crypto trading app in New York, the company announced in a blog post on May 23. Following the acquisition of a BitLicense by the New York State Department of Financial Services (DFS) in January 2019, Robinhood now allows New York citizens to trade in seven major cryptos with no commission fee using its Robinhood Crypto platform. From now, the Robinhood Crypto service is available in 39 states in the United States, including California, Washington and Florida, among others. The Robinhood…

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Bitcoin 

Robinhood Applies for Charter in Push to Offer Traditional Banking Services

Stock and crypto trading platform Robinhood has applied for a bank charter with regulators in the United States, S&P Global Market Intelligence reported on April 19. According to a statement, Robinhood says securing approval from the Office of the Comptroller of the Currency would be a first step towards being able to offer traditional banking products and services. Any full-service bank would likely operate alongside its mobile-focused trading arm, which enables users to trade cryptocurrencies, funds and options on their phones and desktops. Last year, it was estimated that five million users were trading crypto…

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Ethereum 

New York Financial Regulator Grants BitLicense to Robinhood and LibertyX

Stock and crypto trading app Robinhood has received a BitLicense to operate in New York, the New York State Department of Financial Services (DFS) reports on Jan. 24. Robinhood now has permission to trade in seven cryptocurrencies — including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) — in the U.S. state of New York. According to the DFS, Robinhood has additionally been granted a money transmission license. Last summer, anonymous sources reported that Robinhood was in talks to secure a U.S. banking license. The app began allowing…

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