| Ticker | Direction | Speaker | Thesis | Time |
|---|---|---|---|---|
| LONG |
Johann Kerbrat
GM of Robinhood Crypto, Robinhood |
Robinhood is launching a public testnet for "Robinhood Chain," an "Ethereum layer 2 built on Arbitrum." They are working with "Alchemy, LayerZero, Chainlink." * HOOD: Vertical integration allows them to capture settlement fees and offer 24/7 tokenized stock trading, differentiating from traditional brokers. * ARB: As the underlying stack, Arbitrum captures value from Robinhood's massive retail user base moving on-chain. * ETH: Serves as the settlement layer for Arbitrum, accruing security fees. * LINK / ZRO: Explicitly named as infrastructure partners; increased activity on Robinhood Chain drives usage of their protocols (Oracles/Interoperability). LONG (Infrastructure play on retail DeFi adoption). Regulatory crackdown on tokenized securities (SEC) or technical failure of the testnet. | 6:35 | |
| LONG |
Johann Kerbrat
GM of Robinhood Crypto, Robinhood |
"The traditional system has just stopped evolving... you still need one full business day to do settlement... market is still not open 24/7." Robinhood aims to tokenize "public stocks and ETFs." The inefficiency of T+1 settlement and market hours creates a massive efficiency gap. Tokenization solves this. As major players (Robinhood, NYSE, NASDAQ mentioned) enter, the RWA sector moves from niche to institutional standard. LONG (Sector rotation into RWA protocols and platforms). Legislative stalling (Clarity Act mentioned as stalled) could freeze US adoption. | 4:03 | |
| WATCH |
Mike Novogratz
CEO, Galaxy Digital |
Calls the current downturn "more distressing than the last bear market" because "this time there's no smoking gun." When industry veterans cannot identify the specific cause of a 15-30% drawdown (unlike the clear leverage flush of Luna/FTX), it suggests structural weakness or hidden liquidity exits. This uncertainty warrants caution on crypto-native proxies like Galaxy Digital until a floor is found. WATCH (Wait for market clarity). Missing the bottom if this is a "buy the fear" moment. | 2:33 | |
| LONG |
Michael Saylor
Executive Chairman, MicroStrategy |
"I think the Bitcoin is going to double to triple the performance of the S&P over the next 4 to 8 years." Despite current price weakness (-10% week-over-week), the long-term adoption curve and scarcity value of Bitcoin remain intact relative to traditional equities. LONG (Long-term accumulation). Continued high interest rates and regulatory hostility could delay this timeframe. | 0:00 | |
| SHORT |
Barry Bannister
Chief Equity Strategist, Stifel |
"It's not behaving as a hedge against dollar oblivion... it's behaving more like an overextended tech stock that's worried about whether the Fed will cut rates more. And I don't think the Fed's going to cut too much." Bitcoin is currently trading as a high-beta liquidity proxy. If the Fed holds rates higher for longer (as Bannister expects), liquidity dries up, and "overextended" assets like BTC will re-rate lower. SHORT (or AVOID in the short term). Unexpected Fed pivot or a banking crisis that reignites the "hedge" narrative. | 0:00 |