Robinhood has secured $280 Million Series F funding after an $8.3 Billion valuation.
The funding will drive a push to expand the platform globally.
Robinhood also plans on scaling the platform and offering more products to users.
The team at the popular trading platform of Robinhood has announced that the firm has secured $280 Million series F funding after an $8.3 Billion valuation. The round of funding was lead by Sequoia Capital which is an existing investor of Robinhood. Other existing and new investors that participated in the Series F funding include NEA, Ribbit Capital, 9Yards Capital and Unusual Ventures.
New Funding to Push for Global Expansion
The team went on to elaborate that the funding will be used to scale the platform, build and develop new products and accelerate their expansion. In a recent interview with Fortune, the co-CEO of Robinhood, Vlad Tenev, further elaborated on this goal as follows:
The purpose of the capital raise is to enable us to have flexibility and be strategic, and continue to invest in the platform.
We envision that over the next few years, Robinhood will expand globally and continue rolling out more products.
Stability Concerns Still Linger
Amidst the current stock and crypto market volatility, Robinhood has managed to add more than 3 Million funded accounts so far this year. According to Robinhood, half of their new customers are first-time investors.
However, the stability of the platform has been questioned by not only Millenials who prefer using the platform, but by investors who are waiting for Robinhood to go public through an IPO. During the Coronavirus crash of 2020, the platform suffered an outage on 2nd March. The day proved to be one of the most volatile due to the economic effects of COVID19. Trading functions were fully restored on the 9th of March which is a full week after the event.
Trading has been restored and Robinhood is back up and running again. Thank you for your patience as we resolved this issue.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
SOURCE: Ethereum World News – Read entire story here.
In a recent tweet, the team at BitTorrent (BTT) has highlighted why the BTFS file system is better than Filecoin (FIL).
The teams behind both projects have been throwing jabs at each other ranging from accusations of plagiarism and going as far as claiming the other is ‘vaporware’.
Filecoin’s (FIL) Mainnet is set to be launched between mid-July and mid-August.
In a recent tweet, the team at BitTorrent (BTT) highlighted why its BTFS file system is better than Filecoin (FIL). The tweet showcased how the BTFS system has more to show than Filecoin that is yet to launch its mainnet after several postponements. The lack of Filecoin having a functional product is the focal point of the debate as to which is better. The full tweet by BitTorrent made 8 comparisons that can be found below.
Previous Tweef Between Filecoin (FIL) and BitTorrent (BTT)
The recent tweet by BitTorrent is a follow up of a Tweef that transpired in mid-April between Justin Sun and Juan Benet of Filecoin (FIL). Benet was the first to point out that BTFS’ new logo looked like it had been plagiarized. His remarks alluded to the fact that Justin Sun and the Tron Foundation have been accused of borrowing ideas from other open-source projects.
Aaaaaahahaha it’s not enough to fork all our code, rebrand it and lie its theirs; copy paste random chunks of our papers, and defraud their investors with a nonsensical mishmash. Tron also can’t even think of an original logo.
Justin Sun was quick to respond to the accusations by asking if the hexagon shape on the new BTFS logo was owned by Benet. Sun went on to accuse Filecoin of copying BitTorrent’s technology. Additionally, he slammed the project as being ‘vaporware’ with no functional product.
Filecoin’s (FIL) Mainnet Launch in 2020
Both the Filecoin and Tron ICOs were carried out in September of 2017. However, Tron has a wide range of achievements under its belt more than Filecoin. As earlier mentioned, the key to the whole discussion is that Tron launched its mainnet in mid-2018 and Filecoin has yet to launch its final version of the platform. At the time of writing this, Filecoin has set its mainnet launch for mid-July to mid-August this year.
(Feature image courtesy of Hermes Rivera on Unsplash.)
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
SOURCE: Ethereum World News – Read entire story here.
Bitcoin (BTC) has once again reclaimed $9,000 with 5 days until halving.
Pantera Capital’s CEO, Dan Morehead, sees a scenario where BTC hits $115,212 by August 2021.
His analysis is based on the change in the stock-to-flow ratio across each halving.
The hype and excitement surrounding the Bitcoin halving event is once again evident in the current price of BTC. At the time of writing this, Bitcoin has just broken both the $9,000 and $9,100 resistance levels and is trading at $9,261 with 5 days until halving. A brief analysis of the BTC/USDT 6-hour chart reveals that there is renewed buying interest as we draw closer to the estimated halving date of May 12th.
6-Hour BTC/USDT chart courtesy of Tradingview.com
Pantera Capital CEO Predicts Bitcoin (BTC) Could Hit $115k After Halving
With the Bitcoin halving only days away, Pantera Capital CEO, Dan Morehead, has predicted that BTC could hit $115,212 by August of 2021. His analysis is based on the change in the stock-to-flow ratio across each halving. Mr. Morehead made this predication via twitter and further elaborated on his analysis via an informative Medium blog post. His tweet can be found below.
#bitcoin could hit $115,212 in Aug 2021 based on the change in the stock-to-flow ratio across each halving.
Further highlighting key points from his Medium post, Mr. Morehead explained how a reduction in supply of BTC after each halving, will impact the price of Bitcoin.
One potential framework for analyzing the impact of halvings is to study the change in the stock-to-flow ratio across each halving. The first halving reduced the supply by 15{79bb97593c9111edff9923070a045ef663f285faf8113c2b6de3768228bcaf3a} of the total outstanding bitcoins. That’s a huge impact on supply and it had a huge impact on price.
Each subsequent halving’s impact on price will likely taper off in importance as the ratio of reduction in supply from previous halvings to the next decreases.
Furthermore, his analysis went on to elaborate on the impact each halving has had on the price of Bitcoin.
The second having decreased supply only one-third as much as the first. Very interestingly, it had exactly one-third the price impact.
Extrapolating this relationship to 2020:
The reduction in supply is only 40{79bb97593c9111edff9923070a045ef663f285faf8113c2b6de3768228bcaf3a} as great as in 2016. If this relationship holds, that would imply about 40{79bb97593c9111edff9923070a045ef663f285faf8113c2b6de3768228bcaf3a} as much price impulse — bitcoin would peak at $115,212 /BTC.
Image courtesy of Pantera Capital on Medium.com
What is Stock-to-Flow Ratio?
The Stock-to-flow ratio is a measure traditionally used to gauge the abundance of commodities. It is calculated by dividing the amount of a commodity held in inventories, by the amount being produced annually.
In the case of Bitcoin, it is calculated by dividing the currently known supply of Bitcoin by the BTC mined annually. At the time of writing this, there is approximately 18.365 Bitcoin already mined with an annual production of 657,000 BTC per year. This results in a Stock-to-flow ratio of 27.9.
(Feature image courtesy of Unsplash.)
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
SOURCE: Ethereum World News – Read entire story here.
