Robinhood is considering expanding its services to include **cryptocurrency futures** in both the US and Europe. This move, expected after the completion of its **$200 million acquisition** of **Bitstamp**, will see Robinhood offering **perpetual futures** for **Bitcoin** and other cryptocurrencies in Europe. In the US, the company plans to introduce **CME-based futures** for **Bitcoin** and **Ethereum**. While Robinhood has confirmed that there are no imminent plans, the company is exploring these options and the final decisions are yet to be made. This expansion comes at a time when the demand for futures has increased, particularly after the approval of **US Bitcoin exchange-traded funds** earlier this year. **Crypto derivatives** currently hold a larger market than the spot market globally, with **centralized exchanges** seeing significantly higher trading volumes for derivatives. Robinhood's move highlights its dedication to expanding its financial offerings despite regulatory challenges. 

Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) is contemplating the launch <a href="https://www.benzinga.com/money/crypto-futures">of cryptocurrency futures</a> in both the U.S. and Europe in the coming months.
What Happened: According to sources familiar with the matter, the move is planned to follow the completion of its <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39204424/robinhood-announces-acquisition-of-crypto-exchange-bitstamp-in-200m-deal">$200 million acquisition</a> of Bitstamp Ltd., a Luxembourg-based crypto exchange, expected next year, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-02/robinhood-said-to-consider-offering-crypto-futures-in-us-europe?srnd=cryptocurrencies-v2&amp;embedded-checkout=true">reported</a>.
Leveraging Bitstamp&#8217;s licenses, Robinhood aims to offer perpetual futures for Bitcoin and other cryptocurrencies in Europe. In the US, the platform is exploring the introduction of CME-based futures for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
However, a Robinhood spokesperson indicated that there are &#8220;no ...<a href=https://www.benzinga.com/markets/cryptocurrency/24/07/39600520/robinhood-considers-expanding-into-cryptocurrency-futures-markets alt=Robinhood Reportedly Considers Expanding Into Cryptocurrency Futures Markets>Full story available on Benzinga.com</a>

Robinhood Reportedly Considers Expanding Into Cryptocurrency Futures Markets

Robinhood Eyes Cryptocurrency Futures Markets in US and Europe

### **Elon Musk Sounds Alarm on U.S. Bankruptcy**  
Tesla billionaire **Elon Musk** has issued a stark warning that the U.S. could be headed for **bankruptcy** due to its escalating debt situation. Following a staggering **$204 billion** increase in U.S. debt in just one day, Musk's comments have raised eyebrows across the financial world and led some to speculate that this could lead to a significant **surge in Bitcoin prices**.  
  
### **Bitcoin's Recent Price Movements**  
The price of **Bitcoin** has recently dropped to around **$60,000**, erasing much of the gains it had made earlier in the year. This decline coincides with Musk's warning and follows a warning from BlackRock's CEO regarding the **Federal Reserve**.  
  
### **Debt Crisis Intensifies**  
Musk's warning highlights a broader concern about U.S. debt, which has skyrocketed to **$35.669 trillion**. The increase in debt interest payments is projected to hit **$870 billion** this year, exacerbated by the aftermath of inflation and aggressive monetary policies.  
  
### **Potential Bullish Impact on Bitcoin**  
Experts believe that as both political parties fail to adequately address the growing debt crisis, this could create a **bullish environment for Bitcoin**. CK Zheng, from ZX Squared Capital, suggests that the looming U.S. elections might further enhance Bitcoin's appeal as a hedge against traditional financial instability.  
  
### **Geopolitical Tensions and Bitcoin's Role**  
Current geopolitical tensions, particularly in the Middle East, have also affected Bitcoin's price. While Bitcoin is not seen as a safe haven against geopolitical issues like gold, it is increasingly viewed as a hedge against traditional financial risks, such as bank failures and U.S. Treasury sustainability.  
  
![Elon Musk and Bitcoin](https://specials-images.forbesimg.com/imageserve/66fe54c021decb0f2a5dc632/Elon-Musk--Tesla--bitcoin--bitcoin-price--crypto--U-S--dollar--image/960x0.jpg?cropX1=39&cropX2=2252&cropY1=132&cropY2=1602)  
  
As the situation unfolds, many are left wondering how these developments will impact the price of Bitcoin in the coming months.

Tesla billionaire Elon Musk has warned the U.S.'s could collapse into "bankruptcy" due to its debt spiraling out of control—something some think could turbo-charge the bitcoin price...

Elon Musk's $35 Trillion Bankruptcy Warning: Is a Bitcoin Price Surge on the Horizon?

![Metaplanet adds BTC holdings after put options sale with QCP Capital](https://crypto.news/app/uploads/2024/01/crypto-news-trading-chart-front-side-view-Exchange-building-background-bright-neon-colors-option06.webp)

Japanese investment firm **Metaplanet** has recently acquired **23.97 Bitcoin** through an options transaction with **QCP Capital**, a digital asset trading firm based in Singapore. This acquisition brings Metaplanet's total Bitcoin holdings to **530.72 BTC**.

In a notice dated **October 3**, Metaplanet disclosed that it sold **223 put options** contracts valued at **$62,000**, which are set to expire on **December 27, 2024**. This transaction yielded a profit of **23.97 BTC** in option premiums recognized as revenue.

> “This transaction allows the company to capitalize on Bitcoin’s volatility by generating premium income while maintaining a fully cash-secured position,” stated the company.

With this latest acquisition, Metaplanet's Bitcoin assets, which include a previous purchase worth **$6.94 million**, now total approximately **$32.55 million** as of October 3. By selling these put options, the company positions itself to increase its Bitcoin holdings should the market price fall below **$62,000** at maturity.

> “This strategy not only enhances the company’s Bitcoin reserves but also reinforces its balance sheet, aligning with our ongoing financial strategy to strengthen long-term Bitcoin exposure,” Metaplanet added.

Since the depreciation of the **Japanese yen** in May **2024**, Metaplanet has actively expanded its Bitcoin holdings to mitigate economic challenges. The firm has invested a total of **4.96 billion yen**, including **¥215 million** from the latest options sale.

In addition to boosting its Bitcoin reserves, Metaplanet plans to raise **$70 million** through stock rights offerings, committing over **80%** of the funds to its Bitcoin strategy. This reflects a growing trend among Japanese investment managers, as indicated by a **June survey** conducted by **Nomura**.

Furthermore, following Japan's recent election of new Prime Minister **Shigeru Ishiba**, who has outlined a pro-blockchain strategy, Metaplanet's initiatives align with a broader interest in cryptocurrency investments within the country.

Metaplanet acquired 23.97 Bitcoin from an options transaction with QCP Capital, a Singapore-based digital asset trading firm, bringing Metaplanet's total Bitcoin revenue at 530.72 BTC

Metaplanet Expands Bitcoin Holdings with Strategic Options Deal

Cathie Wood, the founder and chief investment officer of Ark Investment Management, has made headlines with her **ambitious prediction** for Bitcoin (CRYPTO: BTC). Her recent price target suggests a **staggering 5,789% upside** by 2030, far surpassing her firm's initial estimate of 2,193%. 

## Bitcoin's Unique Position in the Market

Bitcoin is the **largest cryptocurrency** by market capitalization and is considered a **decentralized asset**, free from the control of any single entity. Built on a **blockchain**, it offers transparency and autonomy, making it an attractive alternative to traditional currencies. Over the past decade, Bitcoin has skyrocketed over **17,000%**, outpacing all other major asset classes, despite experiencing **significant volatility** with **70% drops** on two separate occasions. 

![Bitcoin Symbol](https://s.yimg.com/ny/api/res/1.2/gTkN90TKrxRRuxsRh33bUQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTYzNTtjZj13ZWJw/https://media.zenfs.com/en/motleyfool.com/258e7885bac7cc0d8439f4b99bba73a4)

## Factors Driving Bitcoin's Potential Surge

Ark Investment Management has identified **three key catalysts** that could drive Bitcoin's price higher:
1. **Emerging Market Currency**: Bitcoin's decentralized nature positions it as a potential alternative to traditional currency in politically unstable regions.
2. **Institutional Investment**: The approval of Bitcoin ETFs provides a regulated avenue for institutions to invest in Bitcoin, potentially increasing demand.
3. **Digital Gold**: Ark posits that a significant portion of investment traditionally allocated to gold could flow into Bitcoin due to its portability and superior performance. 

Currently trading at **$64,518**, Ark believes these catalysts could propel Bitcoin to **$1.48 million** by 2030, while Cathie Wood's more aggressive target of **$3.8 million** implies an extraordinary upside. 

![Bitcoin Price Chart](https://s.yimg.com/ny/api/res/1.2/bdnFz4nnmkVP7RFMlePuxQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY3NjtjZj13ZWJw/https://media.zenfs.com/en/motleyfool.com/7b9d067e85569ae35e5fdeb92b32f7d8)

## The Reality of Wood's Forecast

While Wood cites the approval of Bitcoin ETFs as a significant factor behind her $3.8 million target, there are challenges. ETF inflows have slowed, and reaching a market cap of **$79.8 trillion** would make Bitcoin more valuable than the entire U.S. economy. A more realistic target might align Bitcoin's market cap with gold, suggesting a price of **$852,380**—still a **13-fold gain** from current levels.

## Investment Considerations

Before diving into Bitcoin investing, it's essential to consider the **high volatility** and market risks. While Bitcoin can be a **store of value**, it is crucial to evaluate its potential against traditional investment options. 

Anthony Di Pizio, the author of this analysis, holds no positions in the stocks mentioned, but the Motley Fool recommends Bitcoin and Apple, among others. For those exploring investment opportunities, assessing a diverse portfolio could be beneficial.

Cathie Wood's most recent price target for Bitcoin is even higher than the target issued by her own firm.

Cathie Wood's Bold Bitcoin Prediction: 5,789% Upside by 2030! Is It Possible?

### Justin Bennett Warns of Possible Bitcoin Drop

Analyst and trader **Justin Bennett** is sounding the alarm on **Bitcoin (BTC)** as it experiences a **single-digit correction** in recent days. He shares his insights with over **111,500 followers** on X, suggesting that Bitcoin might fall below **$60,000** before making a recovery.

![Bitcoin Alert](https://dailyhodl.com/wp-content/uploads/2024/10/Bennett-Issues-Bitcoin-Alert.jpg)

### Key Resistance and Support Levels

Bennett emphasizes the importance of **turning resistance levels into support** to confirm an upward trend. He states:
> “But a sweep without a reclaim is a potential break with follow-through and probably not something you want to long.”  
> “No trigger, no trade.”

### Market Sentiment: Downtober Before Uptober

In his assessment, Bennett believes that **September's price action** must be retraced before the next rally. He notes that Bitcoin hit a low of around **$52,500** and a high of about **$66,500** in September. He adds:
> “Downtober before Uptober in my opinion.”

![Market Analysis](https://pbs.twimg.com/media/GY0cH_6XwAEC_fm?format=jpg&amp;name=small)

### Tether Dominance and Bitcoin's Future

Bennett also points out that the **Tether (USDT)** dominance level must decline for Bitcoin to reach **all-time highs**. He asserts:
> “For Bitcoin to reach all-time highs, Tether dominance must break its **2018 trend line**. There’s no other way.”

![Tether Dominance](https://pbs.twimg.com/media/GYz7LKlWoAEG5Gh?format=jpg&amp;name=small)

### Current Bitcoin Price

As of now, Bitcoin is trading at **$61,145**. Bennett’s predictions and observations provide a crucial insight into the current state of the cryptocurrency market.

Analyst and trader Justin Bennett is issuing a warning on Bitcoin (BTC) amid the flagship crypto asset’s single-digit correction over the past couple of days.

Bitcoin Alert: Analyst Predicts Potential Dip Below $60K Before Recovery

## Tron’s Record-Breaking Q3 Revenue

Tron has achieved a remarkable **$566 million** in revenue for the third quarter of 2024, significantly outpacing **Ethereum**, **Solana**, and **Bitcoin**. This impressive figure marks a **43% increase** from its Q2 earnings, and over the past year, Tron has accumulated a staggering **$1.66 billion** in total revenue, reflecting a **113% year-on-year growth**.

![Tron Network](https://cryptoslate.com/wp-content/uploads/2024/10/tron-network-768x403.jpg)

### Revenue Comparison
According to **Token Terminal**, Tron's Q3 revenue was over **2x higher** than Ethereum's **$253 million**, **5x higher** than Solana's **$105 million**, and a remarkable **9x greater** than Bitcoin's **$57 million**.

![Blockchain Network Revenue](https://cryptoslate.com/wp-content/uploads/2024/10/GYzFCDlWkAMC5nU.png)
*Source: Token Terminal*

### Key Drivers of Revenue
Tron's revenue surge is attributed to its **robust stablecoin ecosystem** and a surge in **memecoin activity**. Data from **DeFillama** indicates that Tron is the second-largest blockchain for stablecoins, accounting for **34.8%** of the market with **$59.8 billion** in stablecoins. Notably, Tron's stablecoin supply has grown by **21.6%** this year, primarily driven by the demand for **Tether's USDT**, which constitutes **98.3%** of Tron's stablecoin offerings.

Market observers have noted that Tron's **low fees** and **fast transactions** make it particularly appealing in emerging markets such as **Nigeria** and **Argentina**, where users turn to stablecoins to shield against local currency volatility.

### Future Outlook
Following these impressive results, Tron founder **Justin Sun** expressed optimism about continued growth, stating:
> “We are confident that Q4 will see even more growth compared to Q3.”

The recent launch of **SunPump**, a memecoin launchpad, has further increased Tron's visibility in the industry, contributing to heightened network activity. Daily transactions on the Tron network now exceed **8 million**, fueled by stablecoin transfers and the ongoing memecoin craze. 

### Conclusion
Tron's success in Q3 not only highlights its growing dominance in the cryptocurrency space but also sets a promising stage for future growth as it continues to innovate and expand its offerings.

Tron blockhain's Q3 revenue outpaces Ethereum, Solana, and Bitcoin with $566 million surge.

Tron Shatters Expectations: $566 Million Q3 Revenue Leaves Bitcoin, Ethereum, and Solana in the Dust

Compass Mining, a **leading provider of Bitcoin mining hardware**, has successfully energized **2,400 Bitcoin mining machines** at a new facility in **Nebraska**. This expansion increases the company's US infrastructure capacity by **7.5 MW**, aimed at providing enhanced service for both new and existing customers.

### Key Features of the Nebraska Facility
The Nebraska site features a mix of relocated machines from Compass's existing facilities in **Texas** and **Nebraska**, alongside newly deployed units. This strategic move allows Compass to offer a **turnkey mining experience** for new customers, effectively reducing the wait times typically associated with machine deployments.

### Commitment to Customer Service
Paul Gosker, CEO of Compass Mining, stated, "This expansion underscores our commitment to delivering **unparalleled service** to our customers while expanding our self-managed infrastructure." The facility's location near the **Denver repair hub** provides advantages such as faster repairs and minimized downtime.

### Recent Achievements
This expansion follows Compass's recent announcement of energizing **4,000 machines** at a partner site in **Iowa**. In total, the company has energized approximately **40 MW** of power capacity across facilities in **Iowa, Indiana, Ohio, Nebraska**, and **Texas** in 2024, with plans to add another **30 MW** by year-end.

### About Compass Mining
Compass Mining is dedicated to making **Bitcoin mining accessible** to everyone, offering a platform for individuals and businesses to purchase hardware, host machines, and manage mining facilities. With a focus on **customer support and transparency**, Compass Mining continues to set the benchmark in Bitcoin mining hosting.

/PRNewswire/ -- Compass Mining ("Compass"), a leading provider of Bitcoin mining hardware, hosting, and services, today announced the successful energization...

Compass Mining Unveils Major Expansion with 2,400 New Bitcoin Miners in Nebraska!

**A Sacramento County woman, identified only as Leah, has tragically lost $100,000 in a cryptocurrency scam that lasted several months.** The scammer, who posed as an investor, built a relationship with Leah through **LinkedIn**, eventually convincing her to invest her life savings into what she believed was a legitimate cryptocurrency opportunity. 

### The Deceptive Scheme
Leah shared her emotional story with KCRA 3, expressing her devastation: **"This is like my whole life savings that I lost."** The scam began in the summer of **2023**, with the scammer gaining her trust through messages on LinkedIn before moving to **WhatsApp**. 

### Trust and Betrayal
Over several months, Leah was manipulated into transferring large sums of money into a cryptocurrency account, believing she was making a wise investment. **"He was guiding me through the crypto and making deposits in my electronic wallet,"** Leah explained, unaware that the wallet address provided was actually the scammer’s. 

### The Aftermath
Once her account was drained, the scammer blocked her on all social media platforms. Leah immediately reported the incident to law enforcement, but the chances of recovering her funds are slim. **Sgt. Amar Gandhi** from the Sacramento County Sheriff's Office highlighted the difficulty of tracking such crimes: **"Once that money leaves your account, especially via crypto, it's very hard to trace."** 

### A Broader Issue
The **FBI** reported that in **2023**, over **$5.6 billion** was lost in cryptocurrency scams, underscoring the growing threat to individuals. Local authorities urge victims to report such scams, although Leah has yet to see any recovery of her funds. 

> **"We'll call these criminals all kinds of names, but stupid is not one. They are very creative. They're smart and they're manipulative,"** said Sgt. Gandhi.

A woman from Sacramento County says she was scammed out of $100,000 from a cryptocurrency scam.

Robinhood Eyes Cryptocurrency Futures Markets in US and Europe

Summary:

Comments

Subscribe our Newsletter

BitcoinToday.app

Other Latest News

Elon Musk's $35 Trillion Bankruptcy Warning: Is a Bitcoin Price Surge on the Horizon?

Metaplanet Expands Bitcoin Holdings with Strategic Options Deal

Cathie Wood's Bold Bitcoin Prediction: 5,789% Upside by 2030! Is It Possible?

Bitcoin Alert: Analyst Predicts Potential Dip Below $60K Before Recovery

Tron Shatters Expectations: $566 Million Q3 Revenue Leaves Bitcoin, Ethereum, and Solana in the Dust

Compass Mining Unveils Major Expansion with 2,400 New Bitcoin Miners in Nebraska!

Devastating Cryptocurrency Scam: Sacramento Woman Loses $100K in Heartbreaking Tale

Other Latest News

Elon Musk's $35 Trillion Bankruptcy Warning: Is a Bitcoin Price Surge on the Horizon?

Metaplanet Expands Bitcoin Holdings with Strategic Options Deal

Cathie Wood's Bold Bitcoin Prediction: 5,789% Upside by 2030! Is It Possible?

Bitcoin Alert: Analyst Predicts Potential Dip Below $60K Before Recovery

Tron Shatters Expectations: $566 Million Q3 Revenue Leaves Bitcoin, Ethereum, and Solana in the Dust

Compass Mining Unveils Major Expansion with 2,400 New Bitcoin Miners in Nebraska!

Devastating Cryptocurrency Scam: Sacramento Woman Loses $100K in Heartbreaking Tale