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Johann Kerbrat leads Robinhood's crypto division, overseeing its exchange, wallet, and tokenized-stock blockchain initiatives.
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Robinhood has added $25 million of bitcoin to its balance sheet, crypto chief Johann Kerbrat said, a stake worth about 0.025% of its market value. The company's larger tie to the asset runs through trading, where August crypto volume reached $17.5 billion.
Reality
Robinhood Wallet now routes Stock Token swaps through Arcus, a dYdX-team exchange reporting more than $5 billion of volume since its July 1 launch. That total also counts perpetuals still in beta, so the spot demand Robinhood is connecting to is smaller than the headline figure, by an amount nobody has published.
Reality
Robinhood's Johann Kerbrat says its offshore stock-token turnover is already high enough to hit some caps in the SEC's September 17 Innovation Exemption. The larger obstacle is the product itself, a Jersey-issued debt note the order excludes, so a US version must first be rebuilt to carry full shareholder rights.
Reality
Robinhood Chain's record $3.75m fee day matters to Arbitrum only through a 10% licensing clause that already produced $360,000 in July, better than a third of the DAO's income, at gross margins above 97%.
Reality
More than 99% of Robinhood Chain's volume is memecoin trading, while tokenized equities on it sat at $10.68 million in July. That gap is the number to watch.
Reality