Robinhood Is Proving Distribution Captures Crypto’s Value | Weekly Roundup

All the tokens

are having a nice day.

Is that just a macro? How much of it is just factor macro versus specific? Do you think that the market has fully appreciated what Robinhood chain might do to Robinhood's business model?

I mean, it was very clear before today.

Robinhood had been trading relatively anemically relative to the rest of the market.

The equity market has been pretty sideways to a little bit down over the last month.

Just basically macro fear, continued aggression in Iran.

and you know this thing that's happening right now between uh treasury and the fed on trying to figure out like you know how we're going to control the yield curve so we're in this sort of this like weird like macro environment from an equity perspective but um and so robin hood was trading kind of you know relative sentiment of the rest of uh the rest of the equity market.

And then today you talked about it, right? We just got halted.

We're up over 15%.

Like clearly people are starting to look at these trailing numbers that you just talked about.

I think they did 4.7 million of fees yesterday.

So if I analyze that one day, we're talking about almost 1.7 billion of revenue.

You know, the meme coin trenches, they go up and they come down super quickly.

But it's very clear that this has been another big win for Robinhood.

In fairness, I don't think they come down quite a bit.

I mean, this is a big criticism of Pump.

But if you look at what happened over the last...

I mean, we talked about in the last podcast, like the meme coin phenomenon.

Yes, prices are extremely volatile.

But if you factor in like just the amount of new issuance happening, what I think is really novel is... specifically about robin hood is this new kind of paradigm around meme coins that are backed by an underlying token that's when people ask what what i think is really going to probably surpass all kinds of volume and activity that you've had historically in meme coins like if you look at solana 20 what was

that 2023 2024 or 2024 25 like you had whiff and bonk

You didn't have this tokenized stock, like now some of the biggest runners have been obviously Ponds, which is the launchpad, call it the pump fund equivalent and Robinhood chain.

That's now close to 500 million.

It's doing more fees than pump and some of the other launchpad.