Robinhood CEO Vlad Tenev and Paxos CEO Charles Cascarilla on How to Avoid Another GameStop - Ep.236
50:40 Share

In this discussion I moderated for Paxos, Robinhood CEO Vlad Tenev and Paxos CEO Charles Cascarilla discuss GameStop, the broken traditional financial infrastructure, and how blockchain technology may change the future of settlements. Show highlights:

 

• why Robinhood stopped trading on GameStop and AMC stock earlier this year
• what both Charles and Vlad think the feasibility of T+0 settlements versus Citadel’s and the DTCC’s aim of T+1 settlements 
• how the GameStop scenario would have been different in a T+0 environment 
• what it would look like if certain markets used T+0 settlements while others still settled on T+1
• why Robinhood decided to add crypto back in early 2018
• how Robinhood’s crypto operations work on the back end
• why Robinhood does not allow users to move crypto off-platform
• whether securities trading or crypto will be a larger portion of both Paxos’ and Robinhood’s business model
• what Paxos and Robinhood have planned for the near future

 

Thank you to our sponsors!

E&Y: https://ey.com/globalblockchainsummit) 

Crypto.com): https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2)  

Kyber Network: Dmm.exchange)  

 

Episode Links:

 

People:

 

Charles Cascarilla

 

Linkedin

https://www.linkedin.com/in/charlescascarilla/) 

Coindesk Profile

https://www.coindesk.com/charles-cascarilla-most-influential-2020) 

Previous interview with Laura

https://unchainedpodcast.com/chad-cascarilla-on-paxoss-partnership-with-paypal/) 

Blog post on the GameStop saga 

https://www.paxos.com/what-lehman-brothers-gamestop-and-the-next-financial-crisis-have-in-common/) 

 

Vlad Tenev

 

Twitter

https://twitter.com/vladtenev) 

CNN Article

https://www.cnn.com/2021/02/01/investing/robinhood-gamestop-vlad-tenev/index.html) 

Tweet Thread on T+2

https://twitter.com/vladtenev/status/1356687248746455041) 

 

Companies:

Paxos

Twitter

https://twitter.com/PaxosGlobal)

 

Paxos Settlement Service

https://www.paxos.com/securities/)

https://www.reuters.com/article/us-crypto-currencies-paxos/paxos-to-launch-settlement-of-u-s-listed-equities-after-secs-no-action-letter-idUSKBN1X727M)

 

Wall Street Journal write-up

https://www.wsj.com/articles/blockchain-makes-inroads-into-the-stock-markets-1-trillion-plumbing-system-11573131600) 

 

Robinhood

 

Twitter

https://twitter.com/RobinhoodApp)

Robinhood Crypto

https://robinhood.com/us/en/about/crypto/)

Public offering

https://blog.robinhood.com/news/2021/3/23/robinhood-markets-inc-confidentially-submits-draft-registration-statement) 

 

Miscellaneous Links

 

Citadel on settlements

https://www.theblockcrypto.com/post/95326/citadel-robinhood-shorter-settlements-congress)

DTCC on settlements

https://www.dtcc.com/news/2021/february/24/dtcc-proposes-approach-to-shortening-us-settlement-cycle-to-t1-within-two-years) 

 

Other:

 

Caitlin Long Unchained episode:

https://unchainedpodcast.com/caitlin-long-why-avanti-will-be-a-new-kind-of-crypto-bank/) 

 

Learn more about your ad choices. Visit megaphone.fm/adchoices)