Robinhood agentic trading nears 100,000 accounts, crypto next. The most API-native asset class on Robinhood is the one its trading robots still cannot touch. Robinhood Markets launched Agentic Trading in May 2026 for equities and options only, and by the end of the second quarter the feature had attracted nearly 100,000 accounts holding more than $100 million in assets under custody - an average of roughly $1,000 per account, a figure that says the product is being tested, not yet trusted. Crypto support, Chief Executive Officer Vlad Tenev told analysts on the July 29, 2026 earnings call, is coming next - which means the brokerage built its artificial-intelligence trading rails around the asset class with market hours and settlement cycles, while the one that trades 24/7 through public Application Programming Interfaces (APIs) waits in the queue. Agentic trading is growing faster than the assets inside it. The headline numbers came alongside a record quarter. Robinhood reported $1.31 billion in second-quarter revenue against a $1.28 billion consensus, with earnings of $0.62 per share beating the $0.42 estimate, according to Benzinga's July 30, 2026 earnings coverage. The stock still fell about 4% after the print, partly because crypto trading revenue cooled from the prior quarter, CoinDesk reported on July 29, 2026 - a reminder that the brokerage's crypto franchise is cyclical while its product pipeline is not. Tenev said the launch was deliberately conservative: agents were restricted to stocks at first, and users must fund a separate agentic account rather than link their primary balance. Even so, adoption crossed six figures within a single quarter - faster uptake than most of the firm's product launches - while the custody base stayed small. The models "fight you," and that is the interesting part. The friction is not demand; it is the models and the plumbing. "Not everyone loves, surprisingly, going to a Codex or a Claude code and kind of stitching together these two apps," Tenev said on the call, describing the technical sophistication the current setup demands. He added that the underlying AI models are not accustomed to being used for trading and will sometimes resist executing orders - behaviour Benzinga summarised in Tenev's words as the models "fight you." For institutional readers, that resistance is worth reading as an unpriced safety layer: the refusal behaviour trained into general-purpose models is currently doing risk-management work that no exchange rulebook has yet had to codify. Exchanges are already racing for the same order flow. The venue side is not standing still. Kraken has been building institutional rails since it launched a prime brokerage platform to compete with Coinbase and FalconX, and the same infrastructure logic applies to agent-originated flow: whoever offers the cleanest programmatic access captures the order flow when retail agents finally connect to crypto venues. Robinhood's own economics make the stakes explicit. The firm still earns a large share of revenue from routing arrangements, and as The Industry Spread has reported, the regulatory treatment of that model now splits three ways between the EU, UK and US after the June 30 payment-for-order-flow cliff, with Europe's MiFIR Article 39a ban closing the carve-out Germany once enjoyed. An AI agent that trades around the clock generates exactly the kind of high-frequency retail flow that makes those routing questions commercially material again. What happens when the agents get crypto keys. Tenev has argued publicly that AI agents could eventually trade with the capability of humans, telling CNBC on July 2, 2026 that agent-driven markets are a matter of when, not if. The near-term test is narrower: whether Robinhood ships crypto support for Agentic Trading while the accounts are still measured in the hundreds of thousands, and whether custodians and exchanges treat agent-originated orders differently for surveillance and accountability purposes. Analysis published August 1, 2026 framed crypto as the natural home for agentic flow precisely because the venues never close. If the integration lands in Q3, the metric to watch is not account count but assets per account - the moment that $1,000 average starts climbing, agentic trading stops being an experiment and starts being order flow. This article is informational analysis only and is not financial, investment, or trading advice. Cryptocurrencies are highly volatile and can lose substantial value rapidly. Past performance and historical patterns do not guarantee future results. Do your own research and consult a regulated financial adviser before making any investment decision. Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem. He covers token economics, L1/L2 infrastructure, DeFi protocols, wallets/custody, and the bridge between crypto and forex - broker technology, liquidity, and macro drivers. Karthik's writing focuses on clear, practical frameworks that help professionals evaluate new products and on-chain innovation alongside FX market realities. * August 4, 2026 * August 3, 2026 * August 1, 2026 * August 3, 2026 * August 1, 2026 * July 31, 2026

CFTC proposes conflict rules for vertically integrated crypto exchanges. 2026-07-31 06:14:07 Key Takeaways * CFTC proposed rules Thursday to restrict conflicts of interest in vertically integrated crypto exchanges owned by single corporate groups. * The proposal restricts affiliated market makers' access to non-public exchange information and prohibits preferential fee or matching treatment. * Comments on the proposal are due sixty days after publication in the Federal Register with the exact deadline to be set upon posting. The Commodity Futures Trading Commission proposed rules Thursday to address conflicts of interest among affiliated regulated entities, targeting the vertically integrated model where a single corporate group owns the exchange, clearing house, and market maker active on the same venue. The proposal restricts affiliated market makers' access to non-public information and prohibits preferential treatment on fees or matching priority. The rulemaking lands while the CLARITY Act, which would formalize the SEC and CFTC's authority split over digital assets, remains stalled in the Senate. CFTC proposal restricts affiliate access to exchange data. The Notice of Proposed Rulemaking seeks comment on amendments to Parts 37, 38, and 39 of the CFTC's regulations, covering swap execution facilities, designated contract markets, and derivatives clearing organizations, along with Commission Regulations 1.52 and 1.55. The rulemaking would restrict an affiliated market maker's access to the exchange's non-public information, such as order flow, customer positions, and upcoming rule changes. It would prohibit that affiliate from receiving preferential treatment on fees, matching priority, or access, and require separation of personnel, technology, and office space between the exchange and its affiliated trading arm. Regulation 38.852(b) draws a hard line: a company could own a market maker on its own exchange, but not a proprietary trading firm on it. Chairman Michael Selig described the rules as "purpose-fit rules of the road" meant to bolster market integrity "without stifling novel market structures." The proposal also introduces changes to how self-regulatory organizations oversee futures dealers financially and requires fuller disclosure of affiliate relationships. Vertical integration creates structural conflicts. An exchange is responsible for policing its own market: enforcing trading rules, supervising for manipulation, and protecting customer funds. A clearing house manages risk and can exercise discretion over members. When the entity being policed belongs to the same corporate family as the entity doing the policing, the incentive to enforce impartially runs directly against the commercial interest of the group. A CFTC commissioner, citing the Economic Report of the President, noted in a prior affiliations proceeding that combining exchange, brokerage, market-making, and clearing functions "has long been prohibited in traditional markets and leads to risks to customers." Coinbase, Kraken, Polymarket operate integrated model. The proposal does not name companies, but the structure it describes maps directly onto the largest crypto venues. Coinbase, Kraken, and Polymarket, the last through its acquisition of the CFTC-registered exchange QCEX, all operate some version of the integrated model, owning or affiliating the trading venue with other market-facing functions. Coinbase in a November filing responding to the President's Working Group urged the agency to preserve vertical integration in digital-asset markets, arguing that all-in-one platforms offering trading, custody, and settlement deliver efficiencies to customers and should be accommodated within existing rules rather than broken apart. The CFTC in late July told Kalshi and Polymarket to stop filing contracts in bulk through mass self-certification. Separately, the agency is defending its authority over sports-based event contracts against a challenge from 44 state attorneys general. Comments on the proposal will be due 60 days after the NPRM is published in the Federal Register, which had not yet occurred as of the announcement. The exact deadline will be set by the Federal Register notice itself once it posts. Coinbase said it expects a Senate vote on the CLARITY Act as early as Monday, August 3. CLARITY would set the statutory division of authority between the SEC and CFTC over digital assets; the CFTC proposal fills in the conduct rules for CFTC-regulated venues regardless of how that split lands. Faq. What did the CFTC propose on Thursday? The CFTC proposed rules to address conflicts of interest in vertically integrated structures where a single corporate group owns the exchange, clearing house, and market maker. The proposal restricts affiliated market makers' access to non-public exchange information, prohibits preferential fee or matching treatment, and requires separation of personnel and technology between the exchange and its affiliated trading arm. Which crypto companies operate the vertically integrated model the CFTC is targeting? Coinbase, Kraken, and Polymarket (through its acquisition of QCEX) all operate versions of the integrated model, owning or affiliating the trading venue with other market-facing functions. Coinbase in a November filing argued for preserving vertical integration, stating that all-in-one platforms deliver efficiencies to customers. When will the comment period for the CFTC proposal open? Comments will be due 60 days after the Notice of Proposed Rulemaking is published in the Federal Register. The exact deadline will be set by the Federal Register notice once it posts, which had not yet occurred as of the announcement. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Brera holdings (NASDAQ: SLMT) ("Solmate Infrastructure") partners with Anagram as a strategic ecosystem partner ahead of an expected major expansion of its institutional platform. DUBLIN-(BUSINESS WIRE)-Solmate Infrastructure PLC (NASDAQ: SLMT) ("Solmate" or the "Company"), a next-generation digital infrastructure company focused on blockchain, staking, and AI infrastructure, today announced that it has selected Anagram as a strategic ecosystem partner, marking the next phase of the Company's strategy to build a leading institutional blockchain infrastructure platform. The partnership is expected to support Solmate's continued expansion across the Solana ecosystem, providing the Company with access to Anagram's network, market expertise, and deep relationships across blockchain infrastructure, staking, and institutional digital assets. Anagram forms part of a broader partnership strategy through which Solmate is assembling a group of leading infrastructure and staking organizations to support the development, operation, and commercial expansion of its platform. These prospective partnerships are intended to materially expand the scale, capabilities, and economic potential of the Company's staking infrastructure, while strengthening Solmate's position within the institutional Solana ecosystem. "Anagram's network, market expertise, and deep understanding of the Solana landscape is designed to help Solmate identify opportunities, build the right institutional relationships, and accelerate the commercial development of our infrastructure platform," said Ron Sade, Chief Executive Officer of Solmate Infrastructure. "This partnership strengthens the foundation we are building around Solana and comes as we prepare to add further staking partners that aims to significantly expand the scale and capabilities of the platform." "Reliable validator infrastructure is built through long-term operational excellence," said Joe Eagan, Co-Founder of Anagram. "Anagram is excited to partner with Solmate to support its validator strategy and help strengthen the foundation of the Solana network as institutional participation continues to grow." The Anagram partnership builds on Solmate's recently announced collaboration with Kraken Institutional, which supports the Company's Solana validator infrastructure through a structure combining qualified custody with staking capabilities. Together, these relationships reflect Solmate's broader strategy of assembling institutional-grade partners to strengthen its platform, improve staking economics, and support long-term recurring revenue growth. About Solmate Infrastructure PLC Solmate Infrastructure PLC (NASDAQ: SLMT) is building next-generation digital infrastructure spanning blockchain, staking, AI infrastructure, and high-performance computing. The Company is focused on creating long-term shareholder value through the ownership, operation, and optimization of mission-critical digital infrastructure assets. About Anagram Anagram Ltd. is a holding company building novel products and infrastructure across frontier technology. Anagram Staking Services is a subsidiary of Anagram Ltd. focused on performant validator infrastructure for blockchain protocols, primarily in the Solana ecosystem. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "aim," "believe," "continue," "could," "estimate," "expect," "designed," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions. These statements include, but are not limited to, statements regarding the Company's business strategy, future growth, the expected benefits of the Company's partnership with Anagram, prospective partnerships, the future development, expansion, scale, capabilities and economic potential of the Company's institutional blockchain and staking infrastructure platform, the development of institutional relationships, staking economics, recurring revenue growth, market opportunities and shareholder value creation. These forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such statements. Additional information concerning these and other risks is contained in the Company's filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements except as required by applicable law. More News From Solmate Infrastructure PLC DUBLIN-( BUSINESS WIRE )-Solmate Infrastructure PLC (NASDAQ: SLMT) ("Solmate" or the "Company"), a next-generation digital infrastructure company focused on blockchain, staking and AI infrastructure, today announced a strategic partnership with Kraken Institutional, the institutional business of one of the world's longest-standing and most secure digital asset platforms. Solmate selected Kraken Institutional to support its Solana validator infrastructure under a commercial agreement designed to... Solmate Infrastructure PLC. NASDAQ:SLMT Release Versions