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

Published: June 11, 2024, 4 p.m.

Robinhood has been in the spotlight for its $200 million acquisition of European crypto exchange Bitstamp. The TradFi app\u2019s 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.\nJohann 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.\nShow highlights:\n\n02:14 How the acquisition of Bitstamp will reshape Robinhood\n\n08:51 Whether Robinhood could list more coins and whether it\u2019s considering more acquisitions\n\n11:54 Whether the U.S.\u2019s unclear crypto regulation influenced the decision to acquire Bitstamp and which other jurisdictions, besides the EU, Robinhood Crypto is eyeing\n\n17:46 Why Johann was disappointed by the Wells notice Robinhood received from the SEC\n\n20:47 Johann\u2019s U.S. crypto regulation wish list and why Robinhood supports the FIT21 bill\n\n24:09 Why Robinhood delisted ADA, MATIC, and SOL, and the process for listing or delisting a coin on the platform\n\n29:49 Johann\u2019s background in crypto and trajectory at Robinhood Crypto\n\n31:35 How Robinhood is uniquely poised to help bring real-world assets and securities on-chain, and how it will handle offerings for institutional investors\n\n37:48 The impact and importance of the introduction of spot bitcoin ETFs\n\n44:26 Why Robinhood decided to offer staking, but only for Solana, not Ethereum\n\n46:11 Whether there\u2019s demand for crypto-native features in the Robinhood platform\n\n48:26 Robinhood\u2019s collaboration with Arbitrum and whether the company might build their own Layer 2\n\n54:29 Johann\u2019s take on the memecoin mania and whether Robinhood could list them\n\n59:26 What Johann thinks about the political fight around crypto in the U.S.\n\n\nVisit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com\nThank you to our sponsors!\nPolkadot\nGuest:\n\nJohann Kerbrat, general manager of Robinhood Crypto\nLinks\nAcquisition of Bitstamp:\xa0\n\nUnchained: Q&A With Robinhood Crypto General Manager: Why the Crypto Giant Went to the EU\n\n\nFortune: Robinhood defies the SEC by forking over $200 million for a crypto exchange\n\n\nDL News: Robinhood crypto head says Bitstamp will help lure wealthy investors\n\n\nRobinhood\u2019s crypto business:\n\nBloomberg: Robinhood (HOOD) Profit Beats Estimates as Crypto Revenue Surges\n\n\nRobinhood Reports First Quarter 2024 Results\n\nRegulatory actions:\n\nReuters: Robinhood Crypto gets Wells notice from US SEC\xa0\n\nRobinhood Crypto Launches Staking in Europe with Localized Apps to Follow\n\nMemecoin mania\n\nUnchained:\xa0\n\nCelebrity Tokens Continue to Bleed With Some Memecoin Traders Losing Six-Figures\xa0\n\nWhy Memecoins Have Been 2024's Most Profitable Crypto Trade: Ansem and Kelxyz\n\n\nEther ETFs:\n\nUnchained:\xa0\n\nEthereum ETFs Likely Protect Ether From the SEC. But What About Staked ETH?\xa0\n\nWhy the SEC May Not Be Done in Its Legal Battles Over Ethereum\n\nKerbrat\u2019s statement on ETFs\n\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices