Robinhood Crypto Exchange Scraps Plan to Become a Bank

Robinhood has had an about-turn on its plans to become a bank. Commission-free stock and cryptocurrency trading pioneer withdrew its application with the Office of the Comptroller of the Currency yesterday. Robinhood Pulls Bank Charter Application Valued at a staggering $7.6 billion, Robinhood ushered in a new era shaking up the status quo with commission-free trading in 2013. It had such a massive impact, in fact, that it caused established brokerage firms like Fidelity and Charles Schwab to also slash their fees. But, it turns out that it isn’t quite…

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Bitcoin (BTC) Shows Signs of Important Reversal To $8K

Bitcoin price is recovering and it recently broke the main $7,375 and $7,400 resistances against the US Dollar. The price is likely to start a strong rise to $8,000 once it clears the $7,700 resistance. There is a short term contracting triangle forming with resistance near $7,540 on the hourly chart of the BTC/USD pair (data feed from Kraken). The recent rise was triggered after the price surpassed yesterday’s bullish flag resistance at $7,100. Bitcoin price is slowly moving into a positive zone against the US Dollar. BTC seems to…

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