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The Chopping Block: Robinhood’s Vlad Tenev on Tokenized Privates, 24/7 Stocks & AI-Verified Code - Ep. 891

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Manage episode 501812021 series 1822984
Content provided by Laura Shin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Laura Shin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Altcoin froth meets real-asset rails. Vlad explains why Robinhood built an L2, how tokenized stocks—and even private shares like OpenAI/SpaceX—could trade on-chain, and what that means for accreditation, access, and the public/private wall. Plus: DATs, DTCC in a tokenized world, and AI that formally proves smart contracts.

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week, Robinhood co‑founder/CEO Vlad Tenev joins to explain Robinhood Chain, why they chose a Layer 2 over a Layer 1, and the plan to bring tokenized stocks — including private shares — on‑chain. We get into the OpenAI/SpaceX kerfuffle, accreditation rules, and whether permissionless tokenization erodes the public/private boundary. Then we zoom out to 24/7 trading, Digital Asset Treasuries, and how formal verification (Lean proofs) could make smart contracts safer.

Show highlights

🔹 Robinhood Chain L2 vs. L1 – Why Vlad Tenev chose a Layer 2 over a Layer 1 for tokenized stocks and real-world assets.

🔹 Tokenized Stocks & Private Shares – How Robinhood could put U.S. equities and private company equity (OpenAI, SpaceX) on-chain via SPVs and secondaries.

🔹 OpenAI/SpaceX Tokenization Debate – Issuer consent vs. permissionless exposure: what the kerfuffle reveals about private markets on-chain.

🔹 Retail Access & Accreditation Reform – Moving from wealth-gated accreditation to disclosure + self-certification so more investors can participate.

🔹 Ex-US Rollout for Tokenized Equities – Stablecoin-style playbook with KYC/geofencing and permissionless assets where allowed.

🔹 24/7 Trading for Stocks – From 24/5 to 24/7 markets; what this means for DTCC, transfer agents, and market plumbing.

🔹 Wallet + Chain + Custody Stack – Vertical integration advantages: pricing, UX, and liquidity when Robinhood owns more of the rails.

🔹 Digital Asset Treasuries (DATs) – Yield dynamics, mNAV compression, and how DATs stack up against staking ETFs.

🔹 Memecoins vs. Real Assets – “You can buy memes but not OpenAI” paradox and why investor-protection rules feel backward.

🔹 AI-Verified Smart Contracts – Lean proofs, formal verification, and reducing smart-contract risk beyond manual audits.

🔹 Harmonic’s “Aristotle” – Vlad’s AI hitting IMO gold-medal-level math performance and what that means for code safety.

🔹 Robinhood’s Next Decade – Retail super app → B2B/institutional rails and ex-US expansion for tokenized finance.

Hosts:

⭐️ Haseeb Qureshi, Managing Partner at Dragonfly ⭐️ Robert Leshner, CEO & Co-founder of Superstate⭐️ Tarun Chitra, Managing Partner at Robot Ventures⭐️ Tom Schmidt, General Partner at Dragonfly

Guest:

⭐️ Vlad Tenev, CEO & Co-founder of Robinhood

Timestamps

00:00 Intro

01:52 L2 vs. L1 Trade-Offs

04:19 Tokenized Stocks on Robinhood Chain

07:56 Private Markets Onchain

16:10 Accreditation Reform & Compliance

21:47 24/7 Trading for Equities

31:05 Public vs. Private Boundary

32:59 Memecoin Paradox vs. Real-Asset Tokenization

35:27 Digital Asset Treasuries (DATs)

37:50 Robinhood’s Business Mix

41:38 Retail to Institutions: Global Expansion

46:44 Harmonic AI & Lean Proofs

54:48 Safer Smart Contracts Beyond Manual Audits

Disclosures

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

  continue reading

937 episodes

Artwork
iconShare
 
Manage episode 501812021 series 1822984
Content provided by Laura Shin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Laura Shin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Altcoin froth meets real-asset rails. Vlad explains why Robinhood built an L2, how tokenized stocks—and even private shares like OpenAI/SpaceX—could trade on-chain, and what that means for accreditation, access, and the public/private wall. Plus: DATs, DTCC in a tokenized world, and AI that formally proves smart contracts.

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week, Robinhood co‑founder/CEO Vlad Tenev joins to explain Robinhood Chain, why they chose a Layer 2 over a Layer 1, and the plan to bring tokenized stocks — including private shares — on‑chain. We get into the OpenAI/SpaceX kerfuffle, accreditation rules, and whether permissionless tokenization erodes the public/private boundary. Then we zoom out to 24/7 trading, Digital Asset Treasuries, and how formal verification (Lean proofs) could make smart contracts safer.

Show highlights

🔹 Robinhood Chain L2 vs. L1 – Why Vlad Tenev chose a Layer 2 over a Layer 1 for tokenized stocks and real-world assets.

🔹 Tokenized Stocks & Private Shares – How Robinhood could put U.S. equities and private company equity (OpenAI, SpaceX) on-chain via SPVs and secondaries.

🔹 OpenAI/SpaceX Tokenization Debate – Issuer consent vs. permissionless exposure: what the kerfuffle reveals about private markets on-chain.

🔹 Retail Access & Accreditation Reform – Moving from wealth-gated accreditation to disclosure + self-certification so more investors can participate.

🔹 Ex-US Rollout for Tokenized Equities – Stablecoin-style playbook with KYC/geofencing and permissionless assets where allowed.

🔹 24/7 Trading for Stocks – From 24/5 to 24/7 markets; what this means for DTCC, transfer agents, and market plumbing.

🔹 Wallet + Chain + Custody Stack – Vertical integration advantages: pricing, UX, and liquidity when Robinhood owns more of the rails.

🔹 Digital Asset Treasuries (DATs) – Yield dynamics, mNAV compression, and how DATs stack up against staking ETFs.

🔹 Memecoins vs. Real Assets – “You can buy memes but not OpenAI” paradox and why investor-protection rules feel backward.

🔹 AI-Verified Smart Contracts – Lean proofs, formal verification, and reducing smart-contract risk beyond manual audits.

🔹 Harmonic’s “Aristotle” – Vlad’s AI hitting IMO gold-medal-level math performance and what that means for code safety.

🔹 Robinhood’s Next Decade – Retail super app → B2B/institutional rails and ex-US expansion for tokenized finance.

Hosts:

⭐️ Haseeb Qureshi, Managing Partner at Dragonfly ⭐️ Robert Leshner, CEO & Co-founder of Superstate⭐️ Tarun Chitra, Managing Partner at Robot Ventures⭐️ Tom Schmidt, General Partner at Dragonfly

Guest:

⭐️ Vlad Tenev, CEO & Co-founder of Robinhood

Timestamps

00:00 Intro

01:52 L2 vs. L1 Trade-Offs

04:19 Tokenized Stocks on Robinhood Chain

07:56 Private Markets Onchain

16:10 Accreditation Reform & Compliance

21:47 24/7 Trading for Equities

31:05 Public vs. Private Boundary

32:59 Memecoin Paradox vs. Real-Asset Tokenization

35:27 Digital Asset Treasuries (DATs)

37:50 Robinhood’s Business Mix

41:38 Retail to Institutions: Global Expansion

46:44 Harmonic AI & Lean Proofs

54:48 Safer Smart Contracts Beyond Manual Audits

Disclosures

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

  continue reading

937 episodes

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