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Robinhood Announces Stock Tokens, The Robinhood Chain and other news
229 sats \ 29 comments \ @BlokchainB 30 Jun Stacker_Stocks
If you been following my live reaction to the Robinhood event in the @saloon then this post should be of no surprise to you.
Robinhood had its crypto keynote today about the different products they are bringing to market.
In quick review:
  1. Robinhood is coming to the EU
  2. EU customers can trade stock tokens and trade perpetual futures. (bitmex)
  3. Staking is now live for US customers. Stake Solana and ETH
  4. The Robinhood chain is their own in house blockchain. This will trade tokens and other real world assets on bitstamp in the coming months
  5. 0% fee trades on bitcoin
  6. Their stablecoin USDg goes live in the EU soon
  7. EU investors can buy private equity tokens. Those EU customers who open an account between today and July 7th have a chance to be airdropped Open AI and Space X stock tokens

In the EU

Stock Tokens

Explains how stock tokens work on the Robinhood chain

Private company stock tokens

The Robinhood Chain

In this era of shitcoining im not at all surprised at these announcements. I was hoping to hear they are releasing their lightning network wallet for Bitcoin but I guess I’m the fool. The idea of stock tokens sounds great but they are not available in the USA (along with perp trading) until they receive regulatory approval. After this news Robinhood shares shot up 10%. I think the PE is up around 40 which is extremely expensive for a stock but if Robinhood pulls this off and gets all this shitcoin capital it could be a decent investment if they can keep growing.
(Disclaimer I own a bag of Robinhood shares)
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173 sats \ 27 replies \ @grayruby 30 Jun
Lame.
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77 sats \ 26 replies \ @Cje95 30 Jun
I'm jealous that EU people are going to get some spaced or OpenAI stock…. That would have been super super cool….
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40 sats \ 1 reply \ @BlokchainB OP 30 Jun
Yup American companies. Yet Americans gotta wait
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107 sats \ 0 replies \ @Cje95 30 Jun
Republic is about to start offering SpaceX via their platform which I think has really flown under the radar. Republic was in my eyes the first and really only place to let anyone tap these markets.
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62 sats \ 23 replies \ @grayruby 30 Jun
Private company access is the only sensible use case for this grift.
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106 sats \ 3 replies \ @Cje95 30 Jun
Lol I'm not saying your wrong….. I'm just sayin dammit I want that stock 😂
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46 sats \ 2 replies \ @grayruby 30 Jun
You don’t get the stock though. You get a token that represents price exposure.
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30 sats \ 1 reply \ @Cje95 30 Jun
According to the presentation you can get the stock if you want. You burn the token.
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20 sats \ 18 replies \ @BlokchainB OP 30 Jun
Haha not feeling tokenized stocks?
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40 sats \ 4 replies \ @Cje95 30 Jun
I have to say I love the idea of them. I might be in the minority with this but until then stock market goes 24/7 there is going to be a demand
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88 sats \ 3 replies \ @grayruby 30 Jun
24/7 trading will be highly illiquid during non traditional trading hours. It will be great for whales who can push the price around not so much for retail.
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60 sats \ 12 replies \ @grayruby 30 Jun
How does the token give you legal right to the underlying equity? How do I exercise that legal right when there is some hack?
To me it is just price exposure.
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40 sats \ 0 replies \ @BlokchainB OP 30 Jun
These are questions that weren’t 100% clear in the presentation. To mee it seems like they are trying to create De-Fi liquidity to trade outside of tradfi markets.
So wouldn’t call it real innovation plus it’s all still dollar based it’s not based on sats or some other shitcoin token.
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20 sats \ 10 replies \ @AngryMulbear 1 Jul
You've never had legal right to the underlying equity. Even on the traditional stock market, the shares are vested in the name of the Depository Trust Company.
All you own is a fancy IOU
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0 sats \ 0 replies \ @kurszusz 3 Jul
I'm a bit skeptical about this... RobinHood was quite unstable in the previous cycle. Something tells me that not everything will be smooth sailing there.
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