Robinhood is expanding its push into prediction markets through a new multi-year partnership with OG-com, the recently spun-off trading platform from Crypto.com.<\/p>\n
Under the agreement, announced minutes ago, Vlad Tenev\u2019s company will route retail event-contract volume through OG.com\u2019s CFTC-regulated derivatives exchange and clearing infrastructure. The rollout begins on September 8 for eligible US customers.<\/p>\n
The joint statement reads<\/a> that this will be OG.com\u2019s largest business-to-business prediction-markets partnership by transaction volume.<\/p>\n Additionally, Robinhood will receive equity stakes in both OG.com and Crypto.com as part of the deal. The stakes will be priced in line with Citadel Securities\u2019 recent investment in Crypto.com Group, which valued<\/a> the broader entity at $20 billion. OG.com\u2019s valuation was set at $5 billion following the spin-off.<\/p>\n \u201cThis is the beginning of a strategic partnership between both companies,\u201d said Kris Marszalek, Founder and CEO of Crypto.com and OG.com. \u201cWe\u2019re looking forward to making OG.com the most liquid venue globally for innovative derivative instruments, starting with prediction markets and quickly expanding into futures and perpetuals.\u201d<\/p>\n In reaction to the news going live, the native token of the broader Crypto.com ecosystem, CRO, rocketed from $0.057 to a weekly peak at $0.063. Although it was stopped there, it still sits well above $0.06.<\/p>\n The asset took a major hit a month ago when Trump Media Group, the entity behind Truth Social, canceled two of its deals with Crypto.com, including establishing a company accumulating CRO as a strategic asset. At the time, the token slumped<\/a> to a three-year low of under $0.045.<\/p>\n The post CRO Rockets as Robinhood Takes Stakes in Crypto.com and OG.com<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Robinhood is expanding its push into prediction markets through a new multi-year partnership with OG-com, the recently spun-off trading platform from Crypto.com. Under the agreement, announced minutes ago, Vlad Tenev\u2019s company will route retail event-contract volume through OG.com\u2019s CFTC-regulated derivatives exchange and clearing infrastructure. The rollout begins on September 8 for eligible US customers. The […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-224619","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/224619"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=224619"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/224619\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=224619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=224619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=224619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}