Robinhood CEO Vlad Tenev and CLO Daniel Gallagher sold HOOD shares on July 6 via preset trading plans, totaling roughly $44.7 million. Robinhood Ventures Fund I also trimmed its RVI position. The sales followed a stock rally fueled by product launches including Robinhood Chain and Stock Tokens.
Zoomex launches Zoomex Stocks, offering 12 tokenized US equities/ETFs settled in USDT with 24/7 trading and a flat 0.50% fee. The move comes as AI stocks surge and Bitcoin ETFs see record outflows, providing crypto traders a new asset allocation channel.
Robinhood officially launched its Layer-2 blockchain Robinhood Chain on Arbitrum at a London event, alongside tokenized stock products, a 7% APY lending product Robinhood Earn, and expansions into perpetual futures, UK crypto trading, and Canada. It also unveiled AI-powered Agentic Accounts. The company recently cut 10% of its workforce.
Robinhood reported record Q4 revenue but crypto trading income plunged 38%, sending shares down 8.9%. Bernstein analyst Gautam Chhugani argues the selloff is a short-term panic, reiterating a $160 target with 105% upside.
Robinhood has launched its public testnet on Arbitrum and named Chainlink as its oracle provider, opening developer access for tokenized stocks and digital asset use cases.
Charles Schwab is preparing to launch S&P 500-linked event-based options with Cboe, according to a Wall Street Journal report. The product would mark Schwab’s first move into prediction markets and is expected in the coming months.
Crypto markets opened the day with a heavy policy, exchange and security agenda. U.S. Senate Republicans released a new 616-page version of the Clarity bill, adding ethics provisions that would bar public officials and their spouses from issuing or sponsoring digital assets, while allowing investment holdings under disclosure and divestment or blind-trust requirements. The ethics section includes a sunset date of Jan. 20, 2029, and the proposal is still being negotiated ahead of a possible Senate vote as early as next week. Elsewhere, BitMEX said it will shut down on Sept. 23, 2026 at 12:00 Beijing time and has already stopped registering new users. The exchange said new position openings will be restricted from Aug. 26, 2026, with users only allowed to reduce positions before any remaining positions are forcibly closed at shutdown. Kazakhstan also approved rules for “strategic digital mining,” tying electricity allocations to transfers of part of miners’ output into a structure that will help build a national strategic crypto reserve. On the security front, the AFX-operated cross-chain bridge in the Arbitrum ecosystem was attacked at 5:30 a.m. Beijing time on July 23, with about 24.15 million USDC stolen. Blockaid said it is working with the Arbitrum team and affected protocols to help freeze funds, while Offchain Labs co-founder Steven Goldfeder said Arbitrum’s native bridge was not exploited. Grayscale, Bitwise and CryptoQuant analysts also published fresh views on Bitcoin market conditions, ETF flows and signs of a possible bottom.
Pons has announced its V2 upgrade plan for Robinhood Chain, outlining a broader overhaul of how tokens are issued and traded on the platform. According to the team, the protocol has faced multiple attacks since launch, though operations have returned to stability with support from infrastructure partners. The V2 contracts have not been deployed yet and are currently being reviewed by two audit firms, with launch expected next week. The upgrade centers on liquidity, developer incentives, and asset variety. Pons V2 will use an ETH-denominated bonding curve, remove trading restrictions for regular users, and keep only configurable holding caps for developer wallets. It will also support Uniswap V4 Hooks, allowing creators and the protocol to collect fees in ETH by default, with an option to receive revenue in USDG or other real-world asset tokens. Pons also plans to support deployment of any trading pair, including tokens paired with USDG, NVDA, AAPL, and HOOD. Under the new lifecycle design, tokens will begin on the bonding curve and automatically migrate to a Uniswap V4 liquidity pool once fundraising reaches 4.2 ETH, with the liquidity position permanently locked. The team added that some features may still change depending on audit results.
