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AI & Enterprise

Robinhood CEO says crypto future depends on tokenising real-world assets

Robinhood CEO Vlad Tenev said growth in the cryptocurrency industry depends on putting real-world assets on-chain. In a CNBC interview, he said the future of crypto lies in real-world assets and that assets not tied to underlying utility are not productive. Robinhood launched its Stock Token service, letting eligible users trade tokenised stocks 24 hours a day, and plans to use them as collateral across DeFi.

Crypto

IMF says tokenisation could strengthen or fragment financial system

Tokenisation will either strengthen or fragment the financial system depending on policy decisions on money, market infrastructure and legal frameworks, Tobias Adrian said. Moving financial assets and liabilities to a shared ledger compresses execution, clearing and settlement into software-run simultaneous processing, he said. The shift could concentrate risk in platforms, code and market infrastructure providers rather than traditional intermediaries. The IMF report cited tokenised deposits, stablecoins and tokenised central bank reserves.

Crypto

Bitcoin bottom signal emerges as money rotates out of AI stocks

Bitcoin regained $61,000 as investors moved into bitcoin and gold after weak U.S. jobs data reduced expectations of a near-term Federal Reserve rate hike. U.S. nonfarm payrolls rose 57,000 in June, well below forecasts, and prior months were revised lower. Rate-hike odds for September fell, oil steadied below $70, and some AI-related semiconductor shares slid intraday. On-chain metrics cited by CryptoQuant suggested a possible cycle bottom.