Robinhood Goes Onchain
- Robinhood opens its Robinhood Chain L2
- Avalanche Treasury DAT warns the SEC it may not survive
- Cosmos Labs Acquires Mintscan and Team (Partner)
- Supreme Court clears Trump to fire SEC and CFTC commissioners
- Circle's Allaire defends USDC's network effects after stock slide
- Cloudflare opens a stablecoin monetization gateway over x402
- Inside DTCC's Move to Stellar (Partner)
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.
Read more below!
PARTNER
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
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.
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MGUSD, Explained: How MoneyGram Built a Stablecoin Around Distribution (Partner) — MoneyGram built MGUSD on Stellar around the asset it already owns: a global cash-in/cash-out network, aiming to make cross-border payouts instant and programmable instead of leaving customers waiting up to 10 days for a refund.
New York Life Partners with Centrifuge on Tokenized Corporate Bonds — New York Life Investment Management is tokenizing a high-yield corporate bond strategy for the first time, partnering with Centrifuge on the USDC-settled NYLIM Anemoy fund.
Chinese Exile Miles Guo Sentenced to 30 Years for $1B Crypto Fraud Scheme — a federal judge sentenced Chinese exile Miles Guo to 30 years and ordered him to forfeit $889 million after a jury convicted him of a $1 billion scheme run partly through the fake Himalaya Coin.
Solana Launches Onchain Governance With Stake-Weighted Voting for Validators — the Solana Foundation turned on onchain governance, letting validators with at least 100,000 SOL delegated open proposals that go to a stake-weighted vote once they clear 15% cluster support.
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