Advertisement

Weekly Recap: Robinhood Doubles Down on Crypto

Happy weekend Defiers!

Crypto markets rallied to start the week, with Bitcoin briefly trading above $110,000, but turned lower on Friday after some dormant whales from the 2011 era moved billions of dollars worth of BTC, sparking selloff fears.

Fintech giant Robinhood is going all in on crypto, announcing tokenized stocks and its own Layer 2 blockchain at an event in Cannes.

Meanwhile, crypto firms are taking advantage of the favorable regulatory climate to try and make further inroads into TradFi, with Circle and Ripple applying for U.S. banking licenses.

Plus, SOL is underperforming despite a Solana staking ETF launching on Wednesday.

Enjoy!

DEFI ALPHA

We’ve revamped Alpha to help you fully embrace your inner degen and maximize your crypto gains!

New features include an exclusive Telegram group where our resident degens share real-time intelligence from the trenches, a biweekly Alpha call where you can chat directly with the DeFi Alpha newsletter authors, and additional content to help you stay on top of hot trends.

Previous wins:

  • TRUMP at 700M (ATH 70B - 100x)
  • ALCH at 4M (ATH 200M - 50x)
  • ARMY on Ripple at 2M (ATH 100M - 50x)
  • PNUT at 5M (ATH 2.2B - 440x)
  • ZEREBRO at 600K (ATH 600M - 1000x)

What are you waiting for? Subscribe now and join the Telegram group!

Top stories this week

Robinhood Unveils Native Blockchain, Tokenized Stocks, and Perpetual Futures

Fintech giant and online broker Robinhood opened its “To Catch a Token” keynote in Cannes with a bang, announcing tokenized stocks, perpetual futures, crypto staking — and its own Ethereum Layer 2 blockchain.

"I believe that tokenization is going to open the door to a massive trading revolution making it possible to own or fractionally own assets that were never accessible before," said Robinhood co-founder and CEO Vlad Tenev.

Ripple Applies for US Banking License, Heating Up Domestic Stablecoin Race

Ripple CEO Brad Garlinghouse confirmed that the firm has applied to the Office of the Comptroller of the Currency (OCC) for a national bank charter.

The news came just days after USDC stablecoin issuer Circle revealed that it had applied for a national trust bank charter.

Bitcoin Struggles to Break $110,000 as Dormant Whales Move Billions in BTC

The crypto market turned lower on Friday amid reports that dormant whales from the 2011 era began moving billions of dollars worth of Bitcoin.

On Friday morning, at least 60,000 BTC — worth roughly $6.5 billion — were moved from several dormant wallets that hadn’t been touched in 14 years.

Solana Underperforms Ethereum as SOL ETF Commences Trading

The REX Shares Solana staking ETF went live on Wednesday and garnered $8 million in volume within the first 20 minutes, but SOL is lagging behind other major cryptocurrencies.

Trending