Robinhood CEO Vlad Tenev said on X that Robinhood Banking has crossed the $4 billion asset mark, attributing the growth to users' trust in how the company manages their money.
Tenev also outlined plans for what he calls “Trump Accounts,” positioning them as a potential default tool for charitable giving in the United States. Traditional donations, he argued, come with complex rules and regulatory hurdles — donors must vet charities, verify that funds are used as advertised, and assess overall efficiency.
With Trump Accounts, donors can put money directly into investment accounts owned by American children, cutting out intermediaries in the donation process. Donors see exactly where their money goes, children hold the assets, and no fees are charged on the accounts. The invested funds can compound over the long term at market rates, a model Tenev believes could drive positive change in American philanthropy.