All Eyes on Coinbase After Robinhood's Crypto Revenue Falls 47%

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4.7 • 698 Ratings

🗓️ 4 May 2026

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Robinhood missed earnings, is Coinbase next? On this episode of Public Keys at the New York Stock Exchange, hosted by Jennifer Sanasie, Tether has proposed merging 21 Capital, Strike, and Elektron Energy into a single publicly listed Bitcoin company spanning accumulation, payments, and mining. Earnings season is here: Robinhood just posted a 47% drop in crypto revenue alongside a 320% surge in events contracts. Dan Dolev, Senior Analyst covering FinTech and Payments at Mizuho, breaks down what those numbers mean and what he's watching when Coinbase reports this week. Latin America's largest Bitcoin treasury company, OranjeBTC, just launched an American Depositary Receipt giving US investors direct access. Chairman Josh Levine explains why Brazil is one of the world's most natural Bitcoin markets. Plus, Visa and WeFi are merging traditional banking and blockchain rails. WeFi co-founder Reeve Collins, who also co-founded Tether, explains what that means for the future of global payments. - Timecodes: 00:00 Welcome to Public Keys 00:30 Tether Proposes 3-Way Bitcoin Mega-Merger 02:02 Robinhood Earnings: Mizuho's Dan Dolev 03:49 Prediction Markets and Retail Demand 06:13 Robinhood Price Targets: Bull, Base, Bear 07:35 Coinbase Earnings Preview: Take Rates in Focus 10:03 OranjeBTC's Josh Levine on US ADR Launch 13:27 Stablecoins vs Bitcoin as Store of Value 14:54 The Future of Bitcoin Treasury Companies 15:56 Bitcoin Price Outlook: $300K-$500K in 5 Years 17:17 "Zero Bitcoin Is An Active Choice" 19:34 WeFi's Reeve Collins on Visa Partnership 23:20 Tether Co-Founder on Stablecoin Evolution 24:27 Stablecoin Regulation and Yield Wars 27:32 Why Every Ecosystem Will Issue Its Own Coin - This episode was hosted by Jennifer Sanasie.

Transcript

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0:00.0	On today's public keys at the New York Stock Exchange, a proposed merger that could create the first public, fully integrated Bitcoin company.
0:07.1	Earning season is here. We're breaking down Robin Hood and previewing Coinbase.
0:11.2	Latin America's largest Bitcoin Treasury company just became available to U.S. investors and a visa partnership that closes the last half mile of on-chain banking infrastructure.
0:20.4	I'm Jen Sanasi. Let's get into it.
0:26.2	Happy Monday, everyone. I want to start today's show with the story that I'm closely watching.
0:35.1	Last week, Tether proposed merging three strategically important
0:38.3	Bitcoin businesses into one company. Now, we don't have the full picture here yet, but
0:42.7	the vision is worth paying attention to. Tether investments, the independent investment arm
0:47.3	behind the world's largest stable coin, has proposed a three-way merger involving 21 Capital,
0:52.8	Strike, and Electron Energy. Let's take a look at the players. 21 Capital, Strike, and Electron Energy.
0:54.7	Let's take a look at the players.
0:56.5	21 Capital, ticker XXI, is a publicly listed Bitcoin Treasury Company that went public last December.
1:03.0	Think micro-strategy style.
1:04.8	Its core business is accumulating Bitcoin on behalf of shareholders.
1:08.6	It currently holds more than 43,000 Bitcoin on its balance sheet
1:12.2	and is backed by Tether, Bitfinex, and CEO Jack Mullers.
1:16.5	Then there's strike, also led by Mullers,
1:19.3	a Bitcoin Financial Services platform offering payments, lending,
1:22.5	and Bitcoin-based products to consumers and businesses globally.
1:25.9	This is the operating revenue-generating arm of Mueller's ecosystem.
1:30.0	Finally, electron energy.
1:31.9	This is a Bitcoin mining company controlling roughly 5% of the network's hash rate
	...

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