Grayscale to Manage Crypto Assets Worth More Than $1B

According to the company, as of April 1, the size of the assets under its management was $ 940 million
03 April 2019   417

Grayscale Investments reported that the cumulative amount of cryptocurrency funds under its management of funds again exceeded $ 1 billion. More than 90% of the company's assets are under a bitcoin-oriented trust.

According to the company, as of April 1, the size of the assets under its management was $ 940 million, at the end of February this figure was $ 747 million.

On April 2, amid a sharp jump in the price of Bitcoin, the total volume of assets under management, however, rose to $ 1.1 billion, of which $ 999.1 million was Bitcoin.

In February Grayscale Investments published an investment report for 2018, according to which, despite a stable quarterly decline in attracted investments in its products, ended the year with a record figure of $ 395.5 million.

At the beginning of December 2018, Grayscale Bitcoin Investment Trust controlled more than 200,000 BTC, which at that time was about 1% of the total emission of the first cryptocurrency.

Robinhood to Raise $323M During Financial Round

So, the company's capitalization reached $ 7.6 billion
23 July 2019   77

The operator of the mobile application for trading stocks and cryptocurrency Robinhood company Robinhood Markets Inc. announced the closure of a round of financing for the E-Series, which resulted in an impressive $ 323 million. The company's capitalization reached $ 7.6 billion.

The financing round was led by investment company DST Global, and Ribbit Capital, NEA, Sequoia and Thrive Capital also contributed.

The company intends to direct the raised funds to business expansion and the creation of new financial services, calling this process "democratization of finance for all."

Recall that the ability to trade cryptocurrencies through the Robinhood app was first implemented in February 2018. Today, the company supports leading assets such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin and Ethereum Classic.

In January of this year, Robinhood received BitLicense - a license to work with virtual currencies from the Financial Services Authority of New York (NYDFS), and the official launch of the application in the state took place on May 23.

It is noteworthy that in 2017 Robinhood was estimated at only $ 1.3 billion. The introduction of cryptocurrency, however, accelerated the growth of the user base and fueled interest from venture investors. So, last year, the Robinhood managed to attract $ 363 million, with which the company's capitalization was $ 5.6 billion.