Coinbase and Robinhood Are Converging, but Who Wins the Onchain Fintech War? - Ep. 864
Episode publishedPodcast: UnchainedUnchained
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think this is, like, one of the most interesting and exciting times for crypto. And the reason why I say that is we've gotten to this point from 2017 up until now, mostly, like, by us, for us. Right? Like, all the use cases that crypto came up with, we were also the users of at the same time. And we were able to survive as an industry and build this industry to the point of $3,000,000,000,000 in crypto market cap. BlackRock's doing Bitcoin ETFs. Like, you know, we've we've gotten to this point. But we've now gotten to the place where we've created all this infrastructure for on chain and deman
Hi, everyone. Welcome to Unchained, your know high resource for all things crypto. I'm your host, Laura Shin. Your thoughts on the podcast and Unchained matter to us. Every episode, we feature comments from you all on the show. Here are comments responding to my recent interview with Calvin Hamilton on the Polymarket Zelensky suit saga. On YouTube, upstanding citizen three eight seven seven wrote, first I've heard of it. I looked at pictures from the NATO summit, and I would never call it a suit. Ask yourself if you'd wear that to a job interview. Meanwhile, Musubi on YouTube said, it's a suit
for having me. Thanks
for having us.
So just for full transparency, everyone, Ryan and I are actually related, but we have such a big family that I ever I never actually met him until a few years ago. Now that we've met, when there are big family events, we do talk about crypto, which is, really fun. Alright. So let's, dive into the discussion. Last week, everyone was talking about Robinhood's big moves in crypto, in particular, its new Robinhood chain plus tokenized stocks. On the same day, Kraken launched tokenized stocks on the Solana blockchain, and a few weeks before that, Coinbase requested, from the Securities and Exchange
Sure. I mean, they are obviously very different core businesses to an extent. Coinbase is actually an exchange, whereas Robinhood is more so a broker, although a lot of people might argue that, Coinbase to a good extent is also a broker because they go direct to the customer. And they also have very different kind of client focuses. Robinhood's basically entirely retail, whereas Coinbase has basically everyone from, like, BlackRock and ETFs as clients to, like, average people. Yeah. So I I personally think that, Robinhood probably has more of a chance, but, I mean, we'll see. There's, like, a
Ryan, what about you?
Sure. Thanks for having me, Laura. Just just as a background, by the way, I spent most of my background as a crypto VCN investor. So I spent a couple years, as an investor at Coin Fund and then spent a couple years most recently at Coinbase. And so that said, I'm here as an independent voice. Obviously, I worked at one of the companies, discussed here, but I'm just here to share my thoughts as an observer in this space. Yeah. I think they're just very different companies. You know, Robinhood is an equity's first company. They started off as basically offering really great UX for, pro and retai
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