Quick weekly news:
- NFT Gaming ‘Unicorn’ Animoca Raises Another $50M From Coinbase: Read more here.
- What Is Baby Doge and Why Is Elon Musk Pumping the Dogecoin Knockoff? Read more here.
- Dogecoin’s Fee Change Promises to Reduce Costs and Incentivize Nodes, Miners Read more here.
Other notable events include:
- United States was named as the ‘most crypto-ready’ country
- Robinhood financial performance has implications for both the stock and crypto markets.
Most crypto-ready country
Despite the lack of a clear legislative framework for cryptocurrencies, the U.S. has positioned itself as the world's "most crypto-ready" nation, based on numerous important criteria such as Google searches and crypto ATM locations.
The United States received a high score of 7.13 out of ten in the Crypto-Ready Index for 2021, courtesy of research firm Crypto Head.
Robinhood
Robinhood is one of the most well-known companies among millennials, and it may one day compete with Coinbase in the crypto market.
According to its S-1 filing with the SEC, which spelled out the company's financials for the first time ahead of its IPO (initial public offering) later this year, the pandemic surge in meme stocks and crypto helped Robinhood rake in $7.5 million in profits on $959 million in revenue for 2020. As part of its IPO, Robinhood plans to raise up to $100 million and list its shares on the Nasdaq under the ticker symbol HOOD.
The petition also delves into Robinhood's cryptocurrency operations. The quantity of Bitcoin and other crypto assets held on behalf of consumers has increased dramatically. By March 31, this year, the total had risen to over $11.6 billion, up from $480 million the year before.
Also, be sure to check out top altcoin gainers and losers of the week⬇️
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