Robinhood Goes Onchain

Robinhood opened its Arbitrum-based Robinhood Chain to the public at a London keynote, launching stock tokens, a Morpho-powered lending product, and agentic crypto trading, with expansions confirmed in Canada, Singapore, and the UK. The brokerage is turning its retail user base into an onchain distribution channel that rival L2s cannot easily match.

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WATCH

Saylor Selling BTC: Strategy Lifeline, or Betrayal?

With MSTR down roughly 30% on the week and Strategy authorizing Bitcoin sales to cover its preferred dividends, Scott Melker and Kaleo join Camila Russo to debate whether this is disciplined capital management or the first real crack in the Bitcoin treasury model.

PARTNER

Why Wall Street's Biggest Traders Are Abandoning Crypto for Prediction Markets — Alex Momot, Peanut TradeA Defiant Voices sit-down with Peanut Trade's Alex Momot on why the world's biggest market makers are piling into prediction markets.▶ Watch on YouTube

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BLOCKCHAINS

Robinhood Launches Robinhood Chain Mainnet, Adds Stock Tokens, Onchain Lending, and Agentic Crypto Trading

Robinhood opened its Arbitrum-based Robinhood Chain to the public at a London keynote, rolling out new stock tokens, a Morpho-powered lending product, and agentic crypto trading. The firm also confirmed launches in Canada and Singapore and plans for crypto trading in the UK.

Why this matters: Robinhood is turning its brokerage into an onchain venue and shipping the full stack at once. Distribution to millions of retail users is the moat rival L2s cannot copy.

BLOCKCHAINS

Avalanche Treasury Corp Stock Crashes 93%, Warns SEC It May Not Survive the Year

Avalanche Treasury Corp told the SEC its ability to continue as a going concern is in doubt after its Nasdaq-listed stock lost 93% of its value in a month, with its AVAX position now worth less than half of what it paid.

Why this matters: The digital-asset-treasury trade cuts both ways. When the token falls faster than the premium, the vehicle built to amplify it amplifies the losses.

REGULATION

Supreme Court Overturns Humphrey's Executor, Clearing Trump to Fire SEC and CFTC Commissioners

The Supreme Court ruled 6-3 in Trump v. Slaughter that presidents can remove independent-agency commissioners without cause, overturning the 91-year-old Humphrey's Executor precedent. The decision reaches the SEC and CFTC, whose leaders can now be replaced mid-term, and arrives as the CLARITY Act moves toward a floor vote that would expand both agencies' authority over digital assets.

Why this matters: Crypto's rulemakers are now politically removable. Whatever CLARITY hands the SEC and CFTC can be steered — or reversed — by whoever holds the White House.

MARKETS

Circle CEO Rebuts OUSD Pitch, Defends USDC's Network Effects After Stock Slide

Circle CEO Jeremy Allaire argued that stablecoin networks are winner-take-most businesses built over years, defending USDC two days after the launch of the Open USD consortium sent Circle's stock down more than 17% in a single session.

Why this matters: The market is pricing OUSD as a real threat to Circle's moat. Allaire's answer is that distribution and trust compound too slowly for a consortium to shortcut.

DEFI

Cloudflare Launches Monetization Gateway for Stablecoin Payments via x402

Cloudflare opened a waitlist for its Monetization Gateway, letting customers charge for web pages, datasets, APIs, or MCP tools with payments settling in stablecoins over the x402 protocol. Former Syndicate founder Will Papper joined to lead the Agent Payments effort.

Why this matters: A top-tier internet backbone putting stablecoin paywalls on APIs and AI tools is how machine-to-machine payments reach real volume. x402 just got its largest distribution partner.