Robinhood vs. Coinbase: Who Wins the Future of Finance? | David Rodriguez & Omar Kanji

Bankless

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Tech News, News, Technology

4.8 • 1.1K Ratings

🗓️ 3 July 2025

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

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Summary

David from Blockworks and Omar from Dragonfly join the show to debate Coinbase vs Robinhood, two companies racing to become the dominant financial super app. We break down their business models, growth strategies, tokenized asset plays, and how each is approaching crypto, equities, and infrastructure. Will Robinhood’s slick UX and expanding product suite win the next generation? Or will Coinbase’s onchain infra and stablecoin moat prove unbeatable? Omar & Dragonfly https://x.com/TheOneandOmsy https://x.com/Dragonfly_xyz David & Blockworks https://x.com/EffortCapital https://x.com/BlockworksAdv --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance --- TIMESTAMPS 0:00 Intro 2:37 Understanding Coinbase 8:31 Coinbase B2B 13:39 Comparing Revenue, Valuation, & Infrastructure 23:12 Future Growth of Coinbase 28:14 Understanding Robinhood 38:22 Robinhood Competition 45:42 Robinhood 2021 Crisis Explained 48:14 Robinhood Bank 52:02 Tokenized Stocks & L2 55:32 Defending the Coinbase Moat 1:06:19 Forecasting Robinhood’s Future 1:11:08 Forecasting Coinbase’s Future 1:15:31 Closing & Disclaimers --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Transcript

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0:00.0	Thanks, this nation. We got a pretty timely debate on the podcast today. Coinbase versus Robin Hood, two competitor companies that are going head to head into the crypto world. Coinbase, of course, the incumbent, the established crypto native company, but Robin Hood coming right into crypto with pretty big
0:21.6	announcements right on the heels of this, right on the heels of this podcast. Maybe just kind of
0:26.6	just set the table before I introduce our two contestants here. We got Robin Hood with a ticker
0:32.2	hood at $81 billion at the time of recording. It is up 135% year to date. Hood went public in July of
0:41.0	2021, which is not too far off from when Coinbase went public in April of that same year.
0:48.0	Coinbase compared to Robin Hood's $81 billion is currently coming in at $85 billion. And it is up
0:53.6	just 30% year to date
0:55.6	but all of that 30% increase year to date has just come within in the last 30 days so while these
1:00.8	two competitors these two financial aspiring super apps are about the same valuation there has been
1:08.9	a little bit of trajectory difference in order to get
1:11.2	here. Taking the side of Coinbase, we have David from Blockworks. David, welcome to the pod.
1:18.0	David, thanks for having me. And then taking the side of Robin Hood, we have Omar from Dragonfly.
1:22.7	Omar also, welcome to the pod. Thank you very much for helping me.
1:26.8	Okay, so Omar, I have been informed that
1:28.8	you are the most bullish person on Robin Hood that a few people on my timeline know. And then David
1:34.4	also, respectively, same thing to you with Coinbase. So we're framing this as a debate because I think
1:39.3	you guys all have your domain knowledge in their respective companies. I'm sure your knowledge
1:43.3	overlaps.
1:48.4	We're not counting points here. We're not actually trying to go for a winner. We're trying to build a productive conversation. So we as myself, because I'm curious about this answer,
1:53.7	but then also the listeners as well can kind of just get a download on the nature of these two
1:58.6	businesses because I think who wins or how they win or really just
2:03.5	what the future lies for both of these companies will shape what our industry looks like.
	...

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