Senior Financial Analyst

Robinhood gets a cease n' desist. AMC's not stoked about its tokenized stock... Chevy Cassar SEP 4, 2026 Here's what Milk Road Inc. has got for you today: * | AMC's CEO hit Robinhood w/ a cease n' desist. * | The Milk Road Show: The Crypto Bull Market May Be Starting Earlier Than Anyone Expected. * | OKX just launched an onchain operating system for AI agents. On Sept 23, Milk Road's Martin sits down with Alumni Ventures to talk about blockchain and private markets. Save your free seat here. Amc's CEO hit Robinhood W/ A cease N' desist. AMC's CEO Adam Aron spent yesterday publicly demanding that Robinhood kill its AMC tokenized stock. Right now, AMC is worth about $2.6B, while its tokenized equivalent on Robinhood Chain is worth ~$2.8M (essentially a rounding error). Yet Adam is calling his list of concerns "almost existential." So what's all the hubbub about? Let's start with the mechanics... Robinhood's stock tokens aren't actually shares in anything. They're tokenized debt securities issued by Robinhood Assets (Jersey) Limited, an offshore affiliate parked on a small island off the coast of France. Each one tracks the price of a stock - but that's about it. It gives the holder no ownership in the underlying company, no voting rights, no dividends... And as Milk Road Inc. mentioned up top, they're (currently) tiny by comparison: Sources: AMC market cap at Friday's premarket price, token value per onchain data. They're also unregistered under U.S. securities law, which is why they can't be sold to U.S., Canadian, U.K. or Swiss residents. And that comes straight from Robinhood's own website, which is exactly where Aron got his ammunition. His first argument is about the cost. AMC spends millions every year complying with those investor-protection rules, while Robinhood issues its version ~3,000 miles offshore and skirts that same compliance requirement. But compliance isn't the part keeping him up at night... Is VC capital still flowing into crypto or has AI taken it all? Where is venture capital actually deploying across crypto and fintech right now? Join Sophia Zhao (Partner at Alumni Ventures) and Martin from Milk Road for a live fireside conversation covering: * Where capital is moving across blockchain and fintech * What the next generation of blockchain companies are actually building * How accredited investors can get exposure to private markets The best part? It's completely free to attend and takes just one hour. Amc's CEO hit Robinhood W/ A cease N' desist (P2). Issuing new stock is how AMC has been patching up its balance sheet for a while now. Adam says synthetic AMC stock tokens floating around in wallets nobody can see make that job harder to pull off, calling the whole setup a "quasi-fake market" that seeds public distrust of financial markets. He asked Robinhood to voluntarily cease and desist, said his "high-priced securities counsel" has been asked whether they can force it, and said he'll be taking it to the SEC. (Though no letter has actually been filed... yet.) Vlad Tenev's entire reply: "What's the concern?" He made the longer version of his case last year, when OpenAI disowned its own Robinhood token. Vlad's position is that these are derivatives rather than equity, and that tokenizing a company shouldn't require that company's permission. But there's a reason these kinds of critiques keep landing on Robinhood in particular... Two versions of tokenized stocks are being built at the same time. Kyle (its Head of Research) wrote this up for PRO members last week. Kraken and Robinhood got there first with wrappers, while Coinbase launched the actual asset on Base with full rights for whoever holds it. Aron is attacking the wrapper model specifically - which are faster/easier to launch compared to legit onchain equities, and contributing to the massive growth of stock-based RWAs. (E.g. Robinhood added 100 wrapped stock tokens in a single batch on August 13, while Coinbase has launched a total of 4 legit tokenized stocks to date.) So where does this all shake out? In short: Milk Road Inc. is in limbo right now. The SEC may or may not pick this up, and Robinhood may or may not bow to AMC's cease-and-desist. Either way, public pressure like this will likely push future players toward taking the Coinbase route (legit 1:1 issuance) over the quick-n-easy wrapper route. Kyle is well positioned for that outcome - he called Coinbase at $35 back in 2023, his first-ever PRO call. It ran to $450, and today it sits near $190. Bite-sized cookies for the Road. Damn dawg! A relatively obscure launchpad is now producing more daily revenue than some of crypto's most established protocols. Big call. Saylor frames Strategy's current moment like Amazon building Prime: painful short term, dominant long term. This is cool: OKX just launched an onchain operating system for AI agents. Milky memes. Roadie review of the day.

Hedera price news: HBAR tops 9 million accounts as questions over real adoption grow. The HBAR price is getting support from a growing list of developments across the Hedera ecosystem, but one question remains: does network growth automatically lead to higher token value? That conversation kicked up again after Cheeky Crypto looked closer at Hedera's latest milestone, over 9 million accounts. Sounds impressive at first, but the analysis pointed out that 9 million accounts doesn't necessarily mean 9 million active users. For anyone tracking the HBAR price, metrics like active addresses, DeFi activity, stablecoin liquidity, developer growth, and institutional participation probably give a much clearer view of real adoption than just account creation numbers. The headline grabs attention, but the details are what really matter. What you'll learn 9 million accounts is only part of the HBAR story. Hedera crossing 9 million accounts marks another milestone for the network. The question, however, is how many of those accounts are actually being used. As Cheeky Crypto explained, total accounts and active users are very different things. Most blockchain networks end up with a lot of inactive wallets over time. The real question investors care about is whether users are actually doing things, interacting with apps, moving assets, using stablecoins, or participating in DeFi. That's the stuff that tells you if a network is truly alive. That distinction matters because transaction counts and wallet creation do not always translate into demand for a token. The HBAR price tends to benefit more when growth is tied to economic activity happening on the network. Hedera institutional access continues to expand. One area where Hedera continues to make progress is institutional accessibility. Hedera recently highlighted its relationship with OKX, giving more than 50 million users access to a major platform where they can trade and hold HBAR. Greater exchange access can improve liquidity and make it easier for new investors to enter the ecosystem. Institutional infrastructure is also expanding beyond exchange listings. Cheeky Crypto pointed to initiatives such as Taurus and other enterprise-focused solutions that are helping build financial services around Hedera. For the HBAR price, this matters because institutional participation can provide a more stable source of demand than short-term speculative trading. Hedera wants to improve cross-chain connectivity. Another thing getting attention is HIP-1535, a proposal aimed at improving how blockchains talk to each other. The upgrade introduces CLPR technology, which would let blockchains communicate directly without relying on traditional bridge validators, wrapped assets, or other middlemen. The proposal was co-authored by Hedera's founder, Dr. Leemon Baird. Cross-chain communication is one of the biggest areas of development in crypto right now, so this is definitely something worth watching. If HIP-1535 delivers on its goals, it could help strengthen Hedera's position by making asset transfers and communication between networks more efficient and secure. For the HBAR price, increased utility often matters more than headline metrics. More applications and cross-chain activity could create additional reasons for developers and users to interact with the network. What could this mean for the HBAR price? The HBAR price still depends on more than account growth alone. Cheeky Crypto's analysis focused on several key metrics that investors should monitor, including active addresses, stablecoin liquidity, DeFi total value locked, staking activity, developer participation, and enterprise adoption. The combination of more than 9 million accounts, exposure to OKX's 50 million users, and new interoperability initiatives gives Hedera several growth catalysts. Even so, stronger activity across DeFi, stablecoins, and enterprise applications will likely be needed before the market places a significantly higher value on the network. For now, the HBAR price story is about more than a single milestone. The bigger question is whether Hedera can convert its growing ecosystem into sustained demand for HBAR over time. FAQs. What is HIP-1535 and why does it matter for HBAR What are the biggest challenges facing HBAR

Standard Chartered Crypto Trading launches Bitcoin and Ether spot service in UAE. Standard Chartered has expanded its UAE digital-asset services with institutional spot trading for Bitcoin and Ether, marking a major step in regulated crypto adoption. Standard Chartered crypto trading has been growing in the UAE, with the financial institution now allowing spot trading for Bitcoin and Ethereum in DIFC. Table of contents. The bank announced on Thursday that it has become the first global systemically important bank to provide institutional spot trading in the UAE with cryptocurrency. Clients who are eligible will be able to buy and sell cryptocurrencies of Bitcoin and Ethereum via the trading platforms of Standard Chartered's existing FX. The product launch has expanded the bank's range of digital assets offerings in the UAE from custody to trading. Customers are able to execute trades using any custodian that they wish, including Standard Chartered's own digital assets custody offering in the DIFC. Standard Chartered Crypto Trading expands. The newly created Standard Chartered crypto trading platform caters to institutions and asset managers that want regulated access to digital currencies. Customers will be able to make their trades via the bank's single-dealer trading platform, as well as FIX connectivity. The service will run using the existing infrastructure at Standard Chartered. UAE launch comes after the bank offers deliverable spot Bitcoin and Ether trades via its UK subsidiary in July 2025. This product represents the first foray into institutional cryptocurrency trades for the bank and is embedded in its foreign exchange systems. This UAE facility offers the same trading approach to the DIFC, which is one of the leading financial hubs in the Gulf region. From crypto custody to trading. Standard Chartered began offering digital-asset services in the UAE market in September 2024 following authorization by the DFSA to offer digital-asset custody in the DIFC. The two main currencies offered at launch included Bitcoin and Ether, with Brevan Howard Digital being the bank's first client to use the digital-asset custody service. Since then, Standard Chartered has been expanding its digital-asset offerings. In July, the bank partnered with Circle to launch a solution for eligible institutional clients to access USDC minting and redemption without having Circle accounts. Standard Chartered Bank has collaborated with OKX to launch a non-exchange collateral scheme in Dubai. The eligible customers will be able to hold crypto assets and tokenized money market fund assets in Standard Chartered and use them as collateral on OKX. Institutional crypto access. Standard Chartered Crypto Trading offers another way to access spot crypto markets using conventional banking services. Spot trading means buying and selling the actual crypto asset for delivery as opposed to derivatives, which offer price exposure without necessarily delivering the asset. The Standard Chartered Crypto Trading product allows separation of trade execution and custody. Traders will be able to execute their trades via the bank while settling with their chosen custodian. Currently, the Standard Chartered Crypto Trading product in the UAE is offered only to institutional customers and includes just Bitcoin and Ether as the first traded assets. Zagham Abbas Zagham Abbas is a Blockchain Infrastructure Reporter at Tron Weekly with over five years of experience covering cryptocurrency markets, blockchain infrastructure, and digital asset regulation. His reporting focuses on core blockchain networks, protocol-level developments, decentralized finance ecosystems, and major assets such as Bitcoin, Ethereum, and altcoins. Zagham covers network upgrades, protocol changes, scalability developments, security incidents, and ecosystem adoption across leading blockchain platforms. He also provides market analysis, explaining how infrastructure updates and regulatory actions impact digital asset markets. His work delivers clear, fact-based reporting for both beginners and experienced readers. He holds a Bachelor of Arts degree and follows strict editorial and fact-checking standards at Tron Weekly.