- Robinhood believes crypto will be the backbone of the financial system’s evolution.
- Meanwhile, Crypto Czar David Sacks claimed that the draft market structure legislation will pave the way for the US to become the world’s crypto capital.
Digital assets are undeniably merging with traditional finance. After its CEO, Vlad Tenev, called real-world asset (RWA) tokenization an “unstoppable freight train,” Robinhood highlighted crypto’s growing role in the financial sector.
Robinhood Highlights Growing Dominance of Crypto
According to Johan Kerbrat, Crypto General Manager of Robinhood, cryptocurrencies are becoming the “infrastructure for the global financial system.” This recognition from the $118 billion company meant renewed validation in the potential of digital assets to be a core component of the next-generation evolution of finance.
Kerbrat’s comments follow Robinhood’s strategic investment in Lighter.xyz, a zero-knowledge rollup decentralized exchange (DEX). The Layer 2 (L2) exchange is underpinned by the Ethereum (ETH) chain to deliver high-speed perpetual derivatives trading under a quick, transparent, and cost-efficient system.
Lighter’s Successful Fundraise
Fortune reported that Lighter secured $68 million in its latest fundraise. Peter Thiel’s Founder Fund led the round, alongside Ribbit Capital. Robinhood and Haun Ventures also participated in the event.
Its CEO and crypto general manager both confirmed that Robinhood has injected funds into Lighter. However, they remained mum on how much their company allocated for the funding.
The new capital raised Lighter’s valuation to $1.5 billion, solidifying its unicorn status.
The US Becoming the Crypto Capital of the World
Kerbrat’s bullish sentiment on digital assets coincides with another significant development in crypto regulations. David Sacks, President Donald Trump’s crypto and AI czar, revealed on Tuesday the Senate Agriculture Committee’s bipartisan draft of a market structure legislation.
Sacks said the bill represents a leap toward the Trump administration’s goal of ensuring regulatory clarity for digital assets. He stated that it’s a much-needed legislation to reinforce the USA’s path toward becoming the crypto capital of the world.
The AI and crypto czar’s battle cry notably stemmed from Trump’s campaign promise last year to create a more favorable regulatory and investment environment for crypto under his administration. It was a pivot from his dismissive stance on crypto, particularly Bitcoin (BTC), during his first term in the White House.
The USA’s progress toward its goal of becoming a global crypto hub is closely monitored by investors and industry players. After all, the nation is home to the world’s largest equity markets and a vast pool of venture capital.
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