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Unchained

Robinhood CEO Vlad Tenev and Paxos CEO Charles Cascarilla on How to Avoid Another GameStop - Ep.236

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 11 May 2021

⏱️ 50 minutes

🧾️ Download transcript

Summary

In this discussion I moderated for Paxos, Robinhood CEO Vlad Tenev and Paxos CEO Charles Cascarilla discuss GameStop, the broken traditional financial infrastructure, and how blockchain technology may change the future of settlements. Show highlights:   why Robinhood stopped trading on GameStop and AMC stock earlier this year what both Charles and Vlad think the feasibility of T+0 settlements versus Citadel’s and the DTCC’s aim of T+1 settlements  how the GameStop scenario would have been different in a T+0 environment  what it would look like if certain markets used T+0 settlements while others still settled on T+1 why Robinhood decided to add crypto back in early 2018 how Robinhood’s crypto operations work on the back end why Robinhood does not allow users to move crypto off-platform whether securities trading or crypto will be a larger portion of both Paxos’ and Robinhood’s business model what Paxos and Robinhood have planned for the near future   Thank you to our sponsors! E&Y: https://ey.com/globalblockchainsummit  Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2   Kyber Network: Dmm.exchange     Episode Links:   People:   Charles Cascarilla   Linkedin https://www.linkedin.com/in/charlescascarilla/  Coindesk Profile https://www.coindesk.com/charles-cascarilla-most-influential-2020  Previous interview with Laura https://unchainedpodcast.com/chad-cascarilla-on-paxoss-partnership-with-paypal/  Blog post on the GameStop saga  https://www.paxos.com/what-lehman-brothers-gamestop-and-the-next-financial-crisis-have-in-common/    Vlad Tenev   Twitter https://twitter.com/vladtenev  CNN Article https://www.cnn.com/2021/02/01/investing/robinhood-gamestop-vlad-tenev/index.html  Tweet Thread on T+2 https://twitter.com/vladtenev/status/1356687248746455041    Companies: Paxos Twitter https://twitter.com/PaxosGlobal   Paxos Settlement Service https://www.paxos.com/securities/ https://www.reuters.com/article/us-crypto-currencies-paxos/paxos-to-launch-settlement-of-u-s-listed-equities-after-secs-no-action-letter-idUSKBN1X727M   Wall Street Journal write-up https://www.wsj.com/articles/blockchain-makes-inroads-into-the-stock-markets-1-trillion-plumbing-system-11573131600    Robinhood   Twitter https://twitter.com/RobinhoodApp Robinhood Crypto https://robinhood.com/us/en/about/crypto/ Public offering https://blog.robinhood.com/news/2021/3/23/robinhood-markets-inc-confidentially-submits-draft-registration-statement    Miscellaneous Links   Citadel on settlements https://www.theblockcrypto.com/post/95326/citadel-robinhood-shorter-settlements-congress DTCC on settlements https://www.dtcc.com/news/2021/february/24/dtcc-proposes-approach-to-shortening-us-settlement-cycle-to-t1-within-two-years    Other:   Caitlin Long Unchained episode: https://unchainedpodcast.com/caitlin-long-why-avanti-will-be-a-new-kind-of-crypto-bank/    Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi everyone, welcome to Unchained, your no-hi resource for all things crypto.

0:07.6

I'm your host Laura Shin, a journalist with over two decades of experience.

0:11.7

I started coming crypto six years ago, and as a senior editor at Forbes, was the first

0:16.3

mainstream media reporter to cover cryptocurrency full-time.

0:19.9

Sign up for my newsletter where I will soon be making an announcement about pre-orders

0:23.5

for my book, The Cryptopians, Idealism, Greed, Lies, and the Making of the First Big

0:28.9

Cryptocurrency craze.

0:30.6

Head to UnchainedPodcast.com, and the sign up for the email newsletter is right on the

0:34.8

homepage.

0:36.2

Today's episode is a discussion I moderated for Paxos between Vlad Tenev, CEO of Robinhood,

0:42.4

and Charles Cascarilla, CEO of Paxos.

0:45.7

The discussion was titled Why Traditional Financial Infrastructure is Broken and How We Can Fix It.

0:51.2

It was an incredibly fun and substantive discussion on one of the biggest news stories of the year.

0:55.8

By the whole GameStop saga played out as it did, particularly for Robinhood, and how

1:00.9

blockchain technology offers hope that it could be prevented in the future.

1:05.0

We also talk crypto adoption and get into some of the intricacies of crypto trading on

1:09.0

the Robinhood platform, plus we take a peek at what might be coming down the pike in

1:12.9

terms of other traditional financial players getting into crypto.

1:16.2

I hope you enjoy this fascinating discussion.

1:18.9

Now onto the show.

1:21.3

Kuiper's dynamic market maker, DMM, is the first DeFi protocol designed to adapt to

1:27.1

market conditions, to optimize fees, maximize returns, and enable extremely high capital

...

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