Robinhood Expands Commission-Free Trading

Robinhood expanded to more states opening a zero charge trading to investors in California, Massachusetts, Missouri, and Montana
03 April 2018   1028

Robinhood is promoting the idea that a technology-driven brokerage could operate with significantly less overhead as it cuts out the charges that make other brokerages costly. It has reported recently that it is making a commission-free Bitcoin and Ethereum trading available to investors in California, Massachusetts, Missouri, and Montana.

Robinhood twitterRobinhood announcement on Twitter

The users were pretty amused by the news and started asking about the same services in other states like Texas, New York, Chicago, but the exchange did not make any official statements regarding other states yet, although there is sure a possibility that Robinhood will expand its services further.

It is worth reminding that in February the exchange tweeted that it started to gradually send invites to customers residing in CA, MA, MO, MT, NH, lookingforward to releasing crypto trading functionality in more states later. In the meantime, the users can monitor market data for 16 cryptocurrencies and add them to the watchlist.

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   605

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.

 

Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.

 

Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.