Robinhood CEO: It’s 's 'Very Foolish' to Rule Outside Bitcoin

Robinhood, a micro-finance investing app which sought to open accessibility to inventory trading to the public, jumped to the cryptocurrency wagon before this calendar year, as previously reported by CoinDesk.

Vlad Tenev image via CB Insights
“It’s very foolish to say bitcoin is completed.” 
At the moment, according to Tenev, the organization is trying”to get people into the overall ecosystem.”

“What we’ve seen a whole lot is people hearing about us because of crypto, opening balances … and become sort of clients of the complete Robinhood ecosystem,” he said.

The chief in blockchain information, CoinDesk is a press outlet that strives for the greatest journalistic standards and abides by a strict group of editorial policies.

The co-founder of this investing app and internet system was bullish on bitcoin despite the cost declines seen over the past couple of months, saying”this asset has staying power, important staying power.”

More than 1 million individuals signed up to commerce cryptocurrencies in the days following cellular trading app Robinhood initially announced the attribute, co-CEO Vlad Tenev stated at CB Insights’ Future of Fintech summit on Wednesday.
Still, Tenev confessed that”we want to be present as a market leader within the course of years.”

Released at Wed, 20 Jun 2018 16:25:09 +0000

That being said,”blockchain as a concept has become a bit over-rated,” he said, explaining that startups are attempting to jump on the bandwagon using decentralized ledgers in which a normal database could suffice.

Tenev stated Wednesday that”around that period a lot of the greatest crypto exchanges and brokerages a lot of the exchanges … were just not staying up. [They were] down to days at a time. [We’re] focused on stability and dependability. We were able to sustain the client orders … hundreds of thousands of accounts [added in a single afternoon ].”