C. Edward Kelso: Jay-Z Expands Portfolio to Include Crypto

uber soldier-field snoop-dogg shawn-carter roc-nation robinhood-crypto robinhood rap neil-sirni nas n-featured live-nation-entertainment liberty-media jetsmarter jay-z insite-applications featured devialet cryptocurrency bitcoin away arrive-venture-capital 50-cent

Jay-Z Expands Portfolio to Include Crypto

Nas and Snoop Dogg have backed trading application Robinhood, and now legendary rap star Jay-Z has added his imprimatur through a subsidiary, Arrive. Robinhood is already valued at over a billion dollars, closing in on 1.5 billion as of this writing, having recently announced Robinhood Crypto.  

Also read: Internet Pioneer Who Influenced Assange & Snowden Dead at 70

Jay-Z Goes Crypto

Shawn Carter, 48, better known as Jay-Z, owns an entertainment-centric management company, Roc Nation: talent agency, concert promotion, music production, record label, film production, and even music publishing are among its calling. The 21 Grammy-winning, 100 million records sold mogul can now add crypto to that list.

In Spring of last year, Mr. Carter announced a subsidiary, Arrive Venture Capital, under his Roc Nation banner (itself owned by Live Nation Entertainment, which in turn is owned by Liberty Media) to focus on startups. Mr. Carter’s penchant for investing in hungry companies goes back at least as far as 2012, when he reportedly went tech: luggage maker Away, private jet outfit Jetsmarter, and even a series B round with Uber. 

Jay-Z Expands Portfolio to Include Crypto

Arrive’s head Neil Sirni explained, “Arrive was created to leverage our experience and resources in building brands, developing consumer-facing businesses, managing artists and representing athletes. We’ve opened that diversified, global range of expertise to a new vertical: entrepreneurs and their early stage businesses.”

Robinhood late last month announced it was expanding its services to include free trades in bitcoin and ether, and it set off a firestorm of publicity. Though the company doesn’t plan to become a cryptocurrency exchange proper, analysts believe such a format could one day seriously challenge more well-established platforms. Within a week, over one million people signed up for the service.

Jay-Z Expands Portfolio to Include Crypto

Not His First Rodeo

Mr. Sirni continued, “We believe in Baiju and Vlad’s mission to make the financial markets more accessible and cost efficient for customers of all size. Robinhood will have our support as they execute the long-term vision of their company.”

Robinhood already has over three million users. Its total value is inching near one and a half billion dollars. Its model is a loss leader, with stock trades being essentially free. It also launched a web-based service, and its Robinhood Crypto, though limited in scope initially, is already considered a success.

Jay-Z Expands Portfolio to Include Crypto

Arrive has invested in the location sharing project Insite Applications, and Devialet, an audio technology company. Robinhood is Arrive’s third venture, and comes immediately after the startup’s bitcoin and either announcement.

Though rappers such as 50 Cent have notoriously invested in bitcoin as well, Jay-Z was the first. His Soldier Field stadium concert partnered with local newspaper Chicago Sun Times to sell tickets in bitcoin through a third party vendor.

What are your thoughts on Jay’s move? Let us know in the comments section below.

Images courtesy of Pixabay, Roc Nation.

Need to calculate your bitcoin holdings? Check our tools section.

The post Jay-Z Expands Portfolio to Include Crypto appeared first on Bitcoin News.

Interested in Cryptocurrencies and ICO's?

Follow our telegram channel for daily cryptomarket reports!

Join @cointrends

Original article was created by: C. Edward Kelso at news.bitcoin.com

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.

Stay on top of Altcoins and ICO trends.

Subscribe to our free Weekly Cryptomarket report

Delivered once a week, strongly to your inbox.

Subscribe to our mailing list

You may also be interested in:

February 19, 2018

Bitcoin Divorce Presents New Challenge for Rabbinical Court in Israel

While some state authorities and financial regulators might deride bitcoin, more people are using the cryptocurrency in their everyday lives. This has recently become evident by divorce cases around the globe involving bitcoin, with the latest example coming from Israel. Also Read: Half of Large...

From: Avi Mizrahi
February 18, 2018

American ATM Network Athena Bitcoin Adds Bitcoin Cash Support

Bitcoin cash (BCH) is now available for trading in dozens of new physical locations across the US. The American ATM network Athena Bitcoin has added support for buying and selling the cryptocurrency for fiat cash on all its machines. Also Read: Polish Financial Authorities Paid Youtuber to...

From: Avi Mizrahi

CFTC Offers $100,000 Bounty to Crypto Pump-and-Dump Whistleblowers

The US Commodity Futures Trading Commission (CFTC) has created a bounty to encourage whistleblowers coming forward in exposing “pump-and-dump” schemes. “Customers should not purchase virtual currencies, digital coins,” the CFTC warned, “or tokens based on social media tips or sudden...

From: C. Edward Kelso

Malta to Give “Peace of Mind” to Crypto Companies

The government of Malta has come up with an idea that businesses dealing with cryptocurrencies may find interesting. A new policy document seeks to set up a special agency which will “certify” blockchain platforms and “verify” crypto transactions. It is supposed to “bring peace of...

From: Lubomir Tassev

PR: Money Token Applies for Royalty-Free Patent on Crypto-Backed Lending Technology

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press...

From: Bitcoin.com PR

Switzerland Enacts ICO Guidelines

Just days before the tiny nation of Gibraltar was said to draft their first initial coin offering (ICO) regulations, Financial Market Supervisory Authority (FINMA) of Switzerland appears to have stolen its thunder in an eleven page document published today. It could be the standard by which...

From: C. Edward Kelso
Upcoming ICO's
This week overview
Token Name Starts
BANCA (BANCA) logo BANCA (BANCA) 1 days
Play 2 Live (LUC) logo Play 2 Live (LUC) 3 days
Origami (ORI) logo Origami (ORI) 4 days
Loyakk Vega (LYK) logo Loyakk Vega (LYK) 4 days
Cryptocurrency rates
*Last hour average price&change
Coin Name Price Hour
Bitcoin logo BTC $10710.6 1.38%
Ethereum logo ETH $935.328 0.77%
Ripple logo XRP $1.14468 1.1%
Bitcoin Cash logo BCH $1514.24 1.19%
Litecoin logo LTC $219.888 0.99%
Cardano logo ADA $0.394621 1.14%
Stellar logo XLM $0.460664 1.15%
NEO logo NEO $129.702 1.44%
EOS logo EOS $9.58786 1.33%
IOTA logo IOT $2.02619 1.17%
DigitalCash logo DASH $706.608 2.17%
NEM logo XEM $0.535209 0.81%