Reddit Founder to Share Thoughts on Crypto Winter

Alexis Ohanian believes that overall market fall allows to clean industry from speculators and its good for long-time health
22 February 2019   546

The prolonged fall in the cryptocurrency market allows the industry to get rid of speculators, freeing up space for real cryptocurrency enthusiasts. This was announced by the founder of the Reddit social network, Alexis Ohanian, in an interview with Yahoo Finance.

He noted that such mass cleaning is beneficial to the industry’s long-term health.

Now, it's still to be seen. But what's a strong signal to me is still some of the smartest people I know in tech are working on solving these problems. They're building companies that are built on blockchain. The hype is gone. The fervor is gone. But I think that's a good thing.
 

Alex Ohanian

Founder, Reddit

In February, Reddit attracted $ 300 million investment and reached an estimate of $ 3 billion. The Chinese holding Tencent ($ 150 million), investment firms Sequoia and Fidelity, as well as the musician Snoop Dogg, took part in the round of financing.

Earlier, the head of Pantera Capital, Dan Morehead, said that market participants should not worry about cryptosis, as the current situation opens up good prospects for the future development of the bitcoin and blockchain industry.

A similar point of view was expressed by the founder of Morgan Creek, Anthony Pompiano, in November 2018, stating that the bear market is throwing "tourists" out of the game.

Robinhood to Raise $323M During Financial Round

So, the company's capitalization reached $ 7.6 billion
23 July 2019   76

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.