Trump, GENIUS and cryptocurrency
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Coinbase and Robinhood are among the leading trading platforms listing cryptocurrencies. The Coinbase (Nasdaq: COIN) stock hit an all-time high (ATH) of $444.64 within a few minutes of the market opening hours on July 18. The stock has been hitting record highs of late, thanks to the progress on key crypto bills in the U.S. Congress.
Robinhood Markets Inc.’s shares fell Thursday, after the financial-services platform once again missed out on membership in the S&P 500 index. But investors should perhaps focus more on President Donald Trump’s tax-and-spending megabill, which could have much bigger implications for the company.
Not all crypto-linked stocks were getting a boost. MicroStrategy, the world’s largest corporate holder of Bitcoin, was down 4.2% on Friday. Shares often follow fluctuations in the price of Bitcoin, which has fallen 1% over the past 24 hours to $117,726, according to CoinDesk.
Shares of Robinhood surge nearly 200% from all-time lows, boosted by bullish analyst calls, rising earnings forecasts, and a wave of pro-crypto sentiment from Washington.
Vlad Tenev, Robinhood CEO, joins 'The Exchange' to discuss the three crypto bills going through congress, the first of which will be signed by the president and what it means for the sector.
What is inside President Trump's megabill? Many are concerned about the economic impact the massive spending bill could have on Americans. Financial Times U.S. National Editor Ed Luce, former Chief Strategist for the Bush-Cheney 2004 campaign Matthew Dowd and Staff Writer for The Atlantic Ashley Parker join Katy Tur to break it all down.
The story of Robinhood's rapid rise to an all-time high, driven by crypto and AI hype, matches what has also brought the major indexes back to record levels.
Robinhood faces fresh pressure from a Florida investigation and regulatory scrutiny of the company’s OpenAI and SpaceX tokenized stock products.
If Trump is elected president, he will have pulled off quite the con — Robin Hood in reverse. His economic policies call for transferring trillions in resources from the poor and middle class to ...