WonderFi acquisition get us to 1 million customers outside the U.S., says Robinhood CEO

Summary

Robinhood CEO Vlad Tenev discusses the completed acquisition of crypto exchange WonderFi, marking entry into the Canadian market and adding over 1 million non-U.S. customers. He also details the Trump Accounts initiative, a government-backed equity ownership program for newborns that has already seen strong app downloads. Tenev defends Robinhood's recent stock decline as short-term, emphasizing the company's long-term growth trajectory and expanding revenue streams.

• Robinhood completed acquisition of WonderFi, a Canadian crypto platform with Bitbuy and Coin Square brands.
• The acquisition adds over 1 million customers outside the U.S. as part of global expansion.
• Trump Accounts launch on July 4th, giving newborns a $1,000 equity kick-start via Treasury, with Robinhood as sole trustee.
• The Trump Accounts app hit #1 in Finance and #3 overall on the app store at launch.
• Robinhood's stock is down about 22% year-to-date; Tenev attributes it to short-term market focus.
• Tenev reiterates that Robinhood is building a long-term compounding business with growing market share and revenue streams.
• The company has an office in Toronto and sees demand for its products in Canada.
• Tenev frames Robinhood as aiming to be a leading global financial platform, not just U.S.-focused.