This seems to be the approach that Robinhood has taken to crypto in the past year. From its Bitstamp purchase (which is still expected to close during the first half next year), to its response the SEC’s Wells Notice. It has demonstrated a keen interest, and dare I even say commitment, to cryptocurrency.
Johann Kerbrat informed me this won’t change any time soon. “enthusiasm in crypto,” It is helping the company plan the year ahead.
The firm had reported $38 Billion in Crypto Assets under custody at the end of November 2024, even though the market was still a bit bullish after Donald Trump became president. Kerbrat, who was not able to offer an update, did mention that, when looking at the behavior of customers, there had been a noticeable increase in engagement. This is similar to what Kerbrat told Empire in October.
“In November alone, we did more than $3 billion in volume, which is, I think, almost twice as much as Q3,” He added. “If you look at the activity onchain … we see people buying on Robinhood, transferring to their self-custody wallet or transferring to other places,” He noted.
These figures are just one year old, and they represent a dramatic drop in trading revenue for Robinhood in the exact same quarter in 2023.
Kerbrat’s noticed an increase in NFT traffic. Although activity has dropped significantly from the peak of 2022, it is not surprising that sales are expected to be at least equal or slightly below last year’s figure.
In the last week of this year, NFT’s global sales totalled $8.69billion. In the previous year, this figure was $8.71 Billion. This year, the average sales in US Dollars were $122 compared to $95.
This year has seen Robinhood focus on Europe, which is arguably their biggest expansion in the EU. This is likely to change after the Bitget purchase closes.
Kerbrat isn’t just interested in Bitget next year. His team and he are looking forward to the next season. “do more in tokenization,” “He said”
In early 2018, the firm announced, along with Kraken, Paxos, and other firms, that it would launch a Global Dollar Network, based on USDG – a stablecoin.
“We want to be a pioneer” He told me that a publicly traded company is interested in tokenization because it feels as if it can. “bring a lot to the table.”
His interest in artificial intelligence is growing, however he remains cautious due to the way narratives are often told (storyline gets huge, and bad actors then come along to exploit those on the margins). His concern is that AI could be used in the creation of deep-fake videos to defraud people. That’s not saying he believes AI and crypto cannot find a common ground.
“I think the intersection between crypto and AI is something that I’m following pretty closely. When I hear a lot of the issues around AI right now on like micro payments or fair remuneration of the data that is training the models you handle, like personal information, all this kind of thing, makes me feel like … we can actually combine [crypto and AI] and get somewhere that is pretty exciting,” He explained.
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