Bloomberg Podcasts · Robinhood Chain Growth | Bloomberg Businessweek

1. 1. Analysts at Bernstein and Piper Sandler argue that Robinhood's revenue from prediction markets will overshadow that from crypto trading starting as soon as the second quarter.
2. 2. Johann Kerbrat says Robinhood has not seen a shift from crypto trading to prediction markets in their data, but they are focused on building tools for when sentiment improves.
3. 3. Robinhood Chain, launched July 1st, has already processed 105 million transactions, and its first product Robin Earn offers approximately 7% yield on lent dollars.
4. 4. Robinhood's main goal is to be an all-in-one platform for all financial needs, from retirement accounts to credit cards, and they are disrupting traditional finance with products like the gold credit card with 3% cash back.
5. 5. Passage of the Clarity Act in the Senate would enable Robinhood to launch crypto products uniformly across the US, reducing the current fragmented state-by-state regulatory situation.
6. 6. Robinhood has seen different administrations since 2013, and Kerbrat hopes for comprehensive regulation to keep crypto companies building in America, as the previous administration caused them to move abroad.
7. 7. Robinhood offers crypto perpetuals in the EU but not in the US, and they are ready to launch them in the US once regulatory clarity is achieved at the CFTC level.
8. 8. Robinhood's tokenized stock tokens in Europe provide commission-free access to US stocks and ETFs, appealing to over 50% of European customers surveyed, who also value 24/7 trading.
9. 9. Robinhood's IPO Access platform saw significant demand for SpaceX, and they expect similar interest for upcoming IPOs like OpenAI and Anthropic, as retail investors seek early access to companies that delay going public.
10. 10. Kerbrat argues that the US should replace accredited investor net worth requirements with an assessment test, similar to the EU, to allow knowledgeable investors access to private offerings.
11. 11. Robinhood's core demographic is younger, around 35-40, but they are seeing growth in accounts opened for children, indicating a focus on long-term financial education.