Program and guest
A CNBC Television “Squawk on the Street” interview with Robinhood CEO Vlad Tenev. Original English title: Robinhood CEO Vlad Tenev: Crypto is in a relative winter. The subtitles cover the entire video (3:40); this article covers the full segment.
Key points
(The following paraphrases the guest’s intended meaning; timestamp links lead to the corresponding points in the original video.)
- There is a gap between the company’s earnings-season records and the market’s reaction: the company set records for revenue, adjusted EBITDA and total platform assets (nearly 400 billion dollars), among other measures; adjusted earnings per share of 0.60 dollars actually beat the 0.55 dollar expectation. After falling, the share price is moving away from its lows, and the market needs time to digest this new metric. 0:50
- Event contracts and prediction markets now account for a larger share of trading revenue than crypto, a huge structural change for Robinhood; but Tenev sees this not as one growing at the expense of the other, but as the business continuing to diversify. 2:09
- Cryptocurrency is currently in a “relative winter”; however, Robinhood Chain, launched by the company on 1 July, has become a top-five chain in the industry, with decentralized trading volume exceeding 100 billion dollars and on-chain fees exceeding 50 million dollars. 3:18
Background and notes
The subtitles cover the entire video (3:40); this article covers the full segment. The views and timestamps are paraphrased from the original subtitles; each timestamp marks the start of the corresponding original subtitle segment.