Why Robinhood, a TradFi Hub, Is Growing Its Crypto Business Globally - Ep. 658

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 11 June 2024

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

Robinhood has been in the spotlight for its $200 million acquisition of European crypto exchange Bitstamp. The TradFi app’s venture into crypto is paying off: its recent earnings showed that revenue is growing substantially, and the Bitstamp acquisition is just one way the company will grow the pie. Johann Kerbrat, general manager of Robinhood Crypto, came on the show to discuss the acquisition, Robinhood's plans for expanding its crypto business internationally and into the institutional market, the company's approach to listing crypto assets, how regulation has affected its business decisions, and its efforts to bridge traditional finance and decentralized finance. Show highlights: 02:14 How the acquisition of Bitstamp will reshape Robinhood 08:51 Whether Robinhood could list more coins and whether it’s considering more acquisitions 11:54 Whether the U.S.’s unclear crypto regulation influenced the decision to acquire Bitstamp and which other jurisdictions, besides the EU, Robinhood Crypto is eyeing 17:46 Why Johann was disappointed by the Wells notice Robinhood received from the SEC 20:47 Johann’s U.S. crypto regulation wish list and why Robinhood supports the FIT21 bill 24:09 Why Robinhood delisted ADA, MATIC, and SOL, and the process for listing or delisting a coin on the platform 29:49 Johann’s background in crypto and trajectory at Robinhood Crypto 31:35 How Robinhood is uniquely poised to help bring real-world assets and securities on-chain, and how it will handle offerings for institutional investors 37:48 The impact and importance of the introduction of spot bitcoin ETFs 44:26 Why Robinhood decided to offer staking, but only for Solana, not Ethereum 46:11 Whether there’s demand for crypto-native features in the Robinhood platform 48:26 Robinhood’s collaboration with Arbitrum and whether the company might build their own Layer 2 54:29 Johann’s take on the memecoin mania and whether Robinhood could list them 59:26 What Johann thinks about the political fight around crypto in the U.S. Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Guest: Johann Kerbrat, general manager of Robinhood Crypto Links Acquisition of Bitstamp: Unchained: Q&A With Robinhood Crypto General Manager: Why the Crypto Giant Went to the EU Fortune: Robinhood defies the SEC by forking over $200 million for a crypto exchange DL News: Robinhood crypto head says Bitstamp will help lure wealthy investors Robinhood’s crypto business: Bloomberg: Robinhood (HOOD) Profit Beats Estimates as Crypto Revenue Surges Robinhood Reports First Quarter 2024 Results Regulatory actions: Reuters: Robinhood Crypto gets Wells notice from US SEC Robinhood Crypto Launches Staking in Europe with Localized Apps to Follow Memecoin mania Unchained: Celebrity Tokens Continue to Bleed With Some Memecoin Traders Losing Six-Figures Why Memecoins Have Been 2024's Most Profitable Crypto Trade: Ansem and Kelxyz Ether ETFs: Unchained: Ethereum ETFs Likely Protect Ether From the SEC. But What About Staked ETH? Why the SEC May Not Be Done in Its Legal Battles Over Ethereum Kerbrat’s statement on ETFs Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	tokenization can be really helpful. I think the settlement time will really reduce a lot of
0:07.4	the pressure that there is on some of the companies and I think we will be able to really streamline things.
0:14.4	There is not just salesmen, there is also margin intradi requirements, there is also, you know,
0:21.4	fractionization being able to trade 24-7 all of these things where we currently don't necessarily
0:28.0	have the technology on the equity space we'll be able to bring it with with blockchain. So I think
0:34.6	tokenization of securities and equities overall can be a huge step forward.
0:47.0	Hi everyone, welcome to Unchained, you're no-hype resource for all things crypto. I'm your host Laura Shin, author of The Cryptopians.
0:51.0	I started coming crypto nine years ago and as the senior editor Forbes was the first
0:54.5	mainstream reader to cover cryptocurrency full-time. This is the June 11th 2024 episode
0:59.5	of Unchained. Pocodot is the original and leading layer zero blockchain with over 2,000 plus developers and the
1:06.2	Pocodot 2.0 upgrade will be a massive accelerator for the ecosystem, making it faster, more
1:11.7	secure and adaptable, perfect for GameFi and Defi to build, grow, and scale.
1:17.0	Join the community at Pocodot. Network slash ecosystem slash community.
1:22.0	Hey unchained listeners. slash ecosystem slash community.
1:27.5	Hey unchained listeners, as you know it's hard keeping up with a fast-paced world of crypto so we've got just the thing for you.
1:30.0	subscribe to our free unchained daily newsletter at unchained crypto. subcontract.com.
1:35.0	You'll get the latest crypto news and original articles from our reporters
1:38.5	as well as summaries of other happenings and bullet points,
1:40.9	plus our meme of the day, all curated and written by our amazing team. and up at unchained crypto. Substack.com.
1:52.8	Again, the URL is unchained crypto.
1:55.2	substack.com.
1:57.0	Today's guest is Joan Carebrot, general manager of Robin Hood crypto.
	...

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