Robinhood CEO Vlad Tenev and Paxos CEO Charles Cascarilla on How to Avoid Another GameStop - Ep.236

In this discussion I moderated for Paxos, Robinhood CEO Vlad Tenev and Paxos CEO Charles Cascarilla discuss GameStop, the broken traditional financial infrastructure, and how blockchain technology may change the future of settlements. Show highlights:
 
why Robinhood stopped trading on GameStop and AMC stock earlier this year
what both Charles and Vlad think the feasibility of T+0 settlements versus Citadel’s and the DTCC’s aim of T+1 settlements 
how the GameStop scenario would have been different in a T+0 environment 
what it would look like if certain markets used T+0 settlements while others still settled on T+1
why Robinhood decided to add crypto back in early 2018
how Robinhood’s crypto operations work on the back end
why Robinhood does not allow users to move crypto off-platform
whether securities trading or crypto will be a larger portion of both Paxos’ and Robinhood’s business model
what Paxos and Robinhood have planned for the near future
 
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Episode Links:
 
People:
 
Charles Cascarilla
 
Linkedin
https://www.linkedin.com/in/charlescascarilla/ 
Coindesk Profile
https://www.coindesk.com/charles-cascarilla-most-influential-2020 
Previous interview with Laura
https://unchainedpodcast.com/chad-cascarilla-on-paxoss-partnership-with-paypal/ 
Blog post on the GameStop saga 
https://www.paxos.com/what-lehman-brothers-gamestop-and-the-next-financial-crisis-have-in-common/ 
 
Vlad Tenev
 
Twitter
https://twitter.com/vladtenev 
CNN Article
https://www.cnn.com/2021/02/01/investing/robinhood-gamestop-vlad-tenev/index.html 
Tweet Thread on T+2
https://twitter.com/vladtenev/status/1356687248746455041 
 
Companies:
Paxos
Twitter
https://twitter.com/PaxosGlobal
 
Paxos Settlement Service
https://www.paxos.com/securities/
https://www.reuters.com/article/us-crypto-currencies-paxos/paxos-to-launch-settlement-of-u-s-listed-equities-after-secs-no-action-letter-idUSKBN1X727M
 
Wall Street Journal write-up
https://www.wsj.com/articles/blockchain-makes-inroads-into-the-stock-markets-1-trillion-plumbing-system-11573131600 
 
Robinhood
 
Twitter
https://twitter.com/RobinhoodApp
Robinhood Crypto
https://robinhood.com/us/en/about/crypto/
Public offering
https://blog.robinhood.com/news/2021/3/23/robinhood-markets-inc-confidentially-submits-draft-registration-statement 
 
Miscellaneous Links
 
Citadel on settlements
https://www.theblockcrypto.com/post/95326/citadel-robinhood-shorter-settlements-congress
DTCC on settlements
https://www.dtcc.com/news/2021/february/24/dtcc-proposes-approach-to-shortening-us-settlement-cycle-to-t1-within-two-years 
 
Other:
 
Caitlin Long Unchained episode:
https://unchainedpodcast.com/caitlin-long-why-avanti-will-be-a-new-kind-of-crypto-bank/ 
 
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