Robinhood hits ATH as prediction markets business takes off
The company’s stock priced jumped to $136 yesterday after CEO, Vlad Tenev, highlighted that more than 4 billion prediction event contracts have been traded on the platform since the service was offered in partnership with Kalshi in February. One analyst from Piper Sandler actually estimates that 25-35% of all events on Kalshi are from Robinhood. Robinhood, impressively, is now worth 50% more than Coinbase. Read more →
Andre Cronje's Flying Tulip raises $200 million at $1 billion token valuation
Crypto pioneer, Andre Cronje’s new crypto project raised $200 million in a private seed round financing that was closed within a month from a who’s who of crypto investors. Flying Tulip also plans to raise $800 million through a public sale of its native ‘FT’ tokens at the same $1 billion valuation. The company’s goal is to become an onchain exchange that spans "all of DeFi" — including spot, derivatives, lending, stablecoins, and insurance under one system. Read more →
Swift is finally going on-ledger
The banking payments network announced plans to prototype a blockchain-based ledger with Consensys and 30+ banks to enable real-time, 24/7 cross-border payments. It’s a bid to keep banks inside Swift’s rails amid growing competition between big banks, payment groups, and the crypto industry. The stablecoin industry specifically poses a direct threat to payment groups such as Swift because it allows users to transfer funds directly without the need for intermediaries. Read more →
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