Galaxy Digital's shares rose 10% after launching GalaxyOne, a Robinhood-like trading app offering commission-free trading of stocks, ETFs, and cryptocurrencies, along with yield-bearing accounts, aiming to compete in the digital assets space.
Robinhood is launching its crypto app in the EU, offering a Bitcoin rewards program where customers earn a percentage of their trading volume back each month in BTC. The app will be available to eligible customers in the European Union and includes a referral program. The rewards start at 0.10% for trading volume between €0.10 and €100,000, scaling up to 0.325% for volumes over €1 million. The EU launch follows Robinhood's recent UK launch and is anchored in the region due to the EU's comprehensive crypto asset regulation.
Charles Schwab has announced its plan to merge TD Ameritrade and Thinkorswim capabilities into a new platform called Schwab Trading Powered by Ameritrade. This move will provide all Schwab clients with access to Thinkorswim for the first time. Schwab plans to retain key features of Thinkorswim, including Thinkorswim Desktop, Thinkorswim Mobile, and Thinkorswim Web, as well as its programming language, advanced charting, paper trading simulator, and chat rooms. The integration is expected to be completed in a few months, and Schwab will also incorporate TD Ameritrade's investing education tools and resources into its own site.
Alphabet, the parent company of Google, has significantly reduced its stake in Robinhood Markets, while Cathie Wood continues to purchase shares of the trading platform for her ARK funds.
Binance, a major cryptocurrency trading platform, experienced a two-hour outage due to a software glitch. The outage affected users' ability to access their accounts and make trades. Binance has since resolved the issue and apologized for the inconvenience caused to its users.