This week, Yahoo Finance broke down the latest news surrounding cryptocurrency, including what the 2024 presidential election could mean for the future of...
This week, Yahoo Finance broke down the latest news surrounding cryptocurrency, including what the 2024 presidential election could mean for the future of crypto regulation.joined Yahoo finance to give investors advice on the best tax strategies for their crypto investments and discuss what makes taxes on crypto unique compared to stocks or securities. He also shared his thoughts on what a future Trump or Harris presidency could mean for crypto regulation.
I was recently at the Bitcoin Conference where there was not one, not two, but there were three presidential candidates including one former candidate, speaking on behalf of Cryptocurrency, talking about regulation they want to implement to increase the adoption and use of crypto. It's time that the tax gap be reduced by policies that allow individual investors to report crypto simply easily and also allow the IRS the Treasury to collect on taxes that are rightfully owed.
And despite all of this pressure, uh all the selling and all the volatility that we've seen over the last month, we're still seeing inflows into the ETF S. And I think that's a positive story. And I think in different parts of the crypto trade, there's been a pitch of, oh, I like Bitcoins and then I also like Bitcoin miners, but it's a different business and it's a lot different of a story to make money.Maybe investors are a little more sophisticated about it.
We've seen all these zoom, these big zoom meetings since Harris got on the race, black women, Harris, white dudes for Harris.So I think, I think this will continue to evolve and this was a kind of, as Dave said, was a kind of first step in airing of grievances with the White House side that we'll see.
What goes through your mind as the CEO of a trading platform, as large and as international as Robin Hood.Uh you know, we, we announced these quarter two results yesterday and in that earnings call, we talked about July volumes being 20% higher than June, which was the last month of the last quarter.
And then 24 hour market which Robin Hood uh was a pioneer in which offers uh overnight trading in over 1000 US stocks.So the, the things that go through my mind are making sure that the system is reliable and performing for customers. But is there you know from and I know that you used to be in high frequency trading back in the day, you know, is there more that they should be bracing for?Uh traders who typically uh are more advanced and Robin Hood has a had a slew of active trading products including options, trading and, and margin, uh equities and crypto.
And when you talk about those segments, I mean, you also just recently went through two major acquisitions in June, you mentioned Bit Stamp.That was more on the A I side as you think about these acquisitions and how they helped define the era that Robin Hood is in right now. And I think that created the conditions for us to be successful by being a technology company and offering lower prices than our our peers and financial services.
Is there one that you would prefer Robin Hood to be known at Excelling at the, the Artificial intelligence side or the crypto side as you had talked about a lot going into the, the public debut for this company.It's like asking me which of my two Children I find more beautiful.Uh, So we don't have to choose.It's been growing and it's kind of been a dark horse uh in the space.
You know, if you had a message to your younger self just about making sure that you were building a product that you could be proud of and that would help you amass but also retain wealth over time.Well, now, now that I'm older and hopefully a little bit wiser, you, you can see the the gray hairs on my beard.
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