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Robinhood Launches Public Testnet for Its Ethereum L2 Chain

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Robinhood Launches Public Testnet for Its Ethereum L2 Chain

Robinhood has launched the public testnet for Robinhood Chain, a financial-grade Ethereum Layer-2 built on Arbitrum. Johann Kerbrat, SVP and General Manager of Robinhood Crypto, announced the testnet at Consensus Hong Kong on Wednesday, marking the first public development phase of a chain first teased at the company’s Cannes keynote last year.

In an interview with BeInCrypto in Hong Kong ahead of the announcement, Kerbrat outlined the company’s vision for the chain, including tokenized real-world assets, 24/7 trading, and a $1 million developer hackathon program.

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Why Build Its Own Chain

The testnet opens access to network entry points, developer documentation, and full compatibility with standard Ethereum development tools. Ecosystem partners, including Alchemy and LayerZero, are already building on the chain.

The launch comes at a critical moment. Robinhood disclosed $1.28 billion in fourth-quarter revenue on Tuesday, missing analyst expectations of $1.35 billion. Crypto transaction revenue fell to $221 million from $268 million the previous quarter as Bitcoin dropped 23% during the period. The company’s stock has slid from an all-time high of $154 in October amid the broader crypto downturn.

Robinhood first brought tokenized US equities to EU customers in July 2025 through a partnership with Arbitrum, offering commission-free tokens linked to more than 200 US stocks and ETFs. The product now covers over 1,000 stock tokens across the EU and EEA. But the company always intended to migrate to its own chain.

“It was a two-step process from the beginning. Arbitrum’s technology allows you to launch first on Arbitrum One and then migrate to your own proprietary chain,” Kerbrat told BeInCrypto.

The central motivation is customization. General-purpose Layer 2 networks handle compliance at the smart contract level, but Robinhood Chain embeds regulatory requirements directly into the chain layer. This distinction matters for tokenized securities, where minting and burning stock tokens must comply with different rules across jurisdictions.

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The chain itself remains permissionless — anyone can build on it — but the products Robinhood develops on top are designed specifically for regulated financial services.

From Stock Tokens to Real-World Assets

Tokenized public equities were the starting point, but Robinhood’s ambitions extend well beyond listed stocks. Kerbrat said the company’s tokenization engine is designed to eventually support private equity, real estate, art, and other real-world assets.

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A key part of the value proposition is expanding trading hours. Robinhood’s stock tokens currently trade 24 hours a day, five days a week. The migration to Robinhood Chain is expected to enable 24/7 trading — removing the remaining gaps tied to traditional market schedules.

Instant settlement and self-custody are also on the roadmap, along with integration with liquidity pools and lending protocols. Together, these features represent a significant upgrade from the current tokenized stock product, which relies on Arbitrum One infrastructure.

Developer Ecosystem and DeFi Focus

In the near term, Robinhood is focused on attracting developers to build decentralized exchanges, perpetual trading platforms, and lending protocols on the chain. These are natural extensions of its existing brokerage and crypto products.

To jumpstart the ecosystem, the company is planning a series of hackathons across multiple geographies with a total prize pool of $1 million. Kerbrat said the focus will be squarely on financial applications.

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Asia-Pacific Expansion

The testnet launch at Consensus Hong Kong coincides with Robinhood’s deepening push into the Asia-Pacific region. Robinhood completed its $200 million acquisition of Bitstamp in June 2025, gaining access to the exchange’s more than 50 active licenses and registrations worldwide, as well as its institutional crypto-as-a-service business.

Kerbrat said the event provided an opportunity to meet Bitstamp’s Singapore-based clients in person. Through the acquisition, Robinhood now holds licenses in Singapore and Indonesia. It also acquired two smaller Indonesian companies to build a local presence.

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Indonesia, with roughly 13 million crypto users, is a priority market. Kerbrat said early conversations with Indonesian regulators have been positive, with discussions centering on AML compliance and risk disclosures rather than resistance to the company’s entry.

Robinhood’s regulatory track record — spanning FINRA, New York DFS, MiCA in the EU, and MAS in Singapore — gives the company confidence in navigating different jurisdictions, Kerbrat said.

Diversifying the Revenue Model

The Q4 earnings miss underscores a persistent concern: Robinhood’s heavy reliance on transaction-based revenue, particularly from crypto trading. The company is working to diversify on multiple fronts.

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Staking, launched in the US in 2025, has reached approximately $1 billion in staked assets. The Robinhood Chain itself is intended to generate new forms of infrastructure-driven revenue over time.

On the trading side, Robinhood has invested in advanced tools to attract high-frequency and high-volume traders — a segment that provides a more stable revenue baseline even in softer markets, according to Kerbrat. The company also expanded its fee tiers from three to seven, with rates as low as 0.03% for high-volume traders.

The institutional channel is also growing. Bitstamp’s crypto-as-a-service offering lets banks, hedge funds, and family offices provide their clients with access to crypto. Kerbrat noted that institutions tend to enter the market during downturns, providing a countercyclical buffer.

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Meanwhile, prediction markets have emerged as a bright spot. CEO Vlad Tenev said at a company event in December that prediction markets are Robinhood’s “fastest-growing product line by revenue ever,” with 11 billion contracts traded by more than one million customers.

What’s Next

The public testnet is the first phase of a multi-step rollout. Robinhood plans to migrate its existing stock token products to the chain before eventually transitioning to the mainnet. No specific timeline for the mainnet launch has been disclosed.

“Our vision hasn’t changed: we are building the financial superapp,” Tenev said in the company’s Q4 earnings statement.

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Tether Backs LayerZero Labs as USDt0 Surpasses $70 Billion in Cross-Chain Transfers

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TLDR:

  • Tether invests in LayerZero Labs to support proven cross-chain interoperability infrastructure 
  • USDt0 has processed over $70 billion in cross-chain value transfers in less than twelve months 
  • LayerZero technology enables seamless asset movement across blockchains without fragmentation 
  • Partnership combines Tether’s WDK with LayerZero infrastructure for agentic finance capabilities

 

Tether Investments announced a strategic investment in LayerZero Labs on February 10, 2026. The move supports the development of cross-chain interoperability infrastructure.

USDt0, an omnichain fungible token built on LayerZero’s technology, has processed over $70 billion in cross-chain value transfers since its launch.

The investment reflects Tether’s commitment to reducing blockchain fragmentation and improving liquidity efficiency across digital asset markets.

USDt0 Demonstrates Global-Scale Interoperability Performance

LayerZero Labs created one of the most widely adopted bridging frameworks in the digital asset industry. The company’s technology enables secure and efficient asset movement across multiple blockchain networks.

Everdawn Labs leveraged LayerZero’s infrastructure to develop and launch USDt0 and XAUt0 to the market. These implementations proved that stablecoins and tokenized assets can transfer seamlessly without fragmenting liquidity.

USDt0 achieved remarkable transaction volume in less than twelve months of operation. The omnichain fungible token facilitated more than $70 billion in cross-chain value transfers.

This performance validated LayerZero’s technology as critical infrastructure for major digital assets. The platform demonstrated its capability to handle global-scale operations under live market conditions.

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The Omnichain Fungible Token standard provides the technical foundation for these cross-chain transfers. Assets move across different blockchain environments without losing their properties or liquidity.

This approach addresses a fundamental challenge in the digital asset ecosystem. Multiple blockchain networks can now operate more cohesively through this interoperability layer.

Tether’s Wallet Development Kit combines with LayerZero’s infrastructure to create advanced foundational rails. The system supports digital asset payments, settlements, and custody for real-world applications.

This combination also enables agentic finance capabilities. AI agents can operate autonomous wallets and transact with stablecoins at scale.

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Technology Alignment Supports Future Market Development

Tether’s CEO Paolo Ardoino commented on the investment rationale and the company’s infrastructure focus. “Tether invests in infrastructure that is already delivering real-world utility,” Ardoino stated.

He noted that LayerZero’s technology allows real-time asset transfers across any transport layer. The infrastructure supports the emerging agentic AI economy requiring micro-payment orchestration at unprecedented scale.

LayerZero’s CEO Bryan Pellegrino responded to the investment announcement with recognition of Tether’s market position. “Tether is a company the world envies,” Pellegrino said.

He described USDt0’s success as an important stepping stone for the partnership. The investment represents validation of LayerZero’s engineering approach and execution capabilities according to Pellegrino.

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The investment aligns with Tether’s broader infrastructure strategy. The company supports systems that reduce fragmentation across blockchain networks.

Enhanced liquidity efficiency enables stablecoins to function as global settlement instruments. This approach addresses practical challenges in cross-chain asset movement.

LayerZero’s proven track record influenced Tether’s investment decision. The technology has demonstrated its ability to support major assets under production conditions.

Both companies aim to build infrastructure for global permissionless markets. The partnership strengthens the foundation for future cross-chain financial applications.

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Robinhood Chain Testnet Launches on Arbitrum for Tokenized Real-World Assets

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TLDR:

  • Robinhood Chain testnet enables developers to build financial-grade apps on Arbitrum technology
  • Infrastructure partners Alchemy, Chainlink, LayerZero, and TRM already integrating with platform
  • Testnet will feature Stock Tokens for integration testing ahead of mainnet launch later in 2025
  • Platform supports tokenized assets, lending protocols, and perpetual futures exchanges on Layer 2

 

Robinhood Chain has officially launched its public testnet, marking a major step in the company’s blockchain ambitions.

The Layer 2 network, built on Arbitrum technology, targets financial services and tokenized real-world assets. Developers can now access the testnet to build and validate applications on the Ethereum-compatible platform.

Infrastructure partners including Alchemy, Allium, Chainlink, LayerZero, and TRM have already begun integration work.

Infrastructure and Technical Foundation

Robinhood announced the testnet launch through its official social media channels, inviting developers to explore the platform’s capabilities.

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The company tweeted that developers can now build on a financial-grade Ethereum Layer 2 designed to support tokenized assets.

The network provides compatibility with standard Ethereum development tools while leveraging Arbitrum’s proven Layer 2 technology.

This approach enables developers to work within a familiar environment while accessing enhanced scalability features.

The company has published comprehensive developer documentation at https://docs.robinhood.com/chain to support early builders.

Network entry points are now accessible, allowing participants to connect and begin testing their applications. The testnet phase serves multiple purposes, from identifying technical issues to establishing network stability before mainnet deployment.

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Johann Kerbrat, SVP and GM of Crypto and International at Robinhood, outlined the platform’s vision in a statement. “The testnet for Robinhood Chain lays the groundwork for an ecosystem that will define the future of tokenized real-world assets,” he said.

The executive added that the platform will “enable builders to tap into DeFi liquidity within the Ethereum ecosystem.” Kerbrat expressed enthusiasm about collaborating with infrastructure partners to bring financial services onchain.

Early infrastructure partners play a crucial role in the testnet phase. Their involvement ensures that essential services and tools are available from the start.

This collaborative approach aims to create a robust foundation for future applications and services on the network.

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Developer Features and Future Roadmap

The testnet environment supports seamless bridging and self-custody functionality for digital assets. Developers can build financial-grade decentralized products, including tokenized asset platforms and lending protocols.

The architecture also accommodates perpetual futures exchanges and similar complex financial applications.

Robinhood plans to introduce testnet-only assets in coming months to facilitate integration testing. Stock Tokens will be available exclusively for development purposes, allowing builders to test trading mechanisms and settlement processes. Direct testing with Robinhood Wallet will provide additional integration opportunities for developers.

The platform emphasizes reliability, security, and compliance as core design principles. These priorities reflect Robinhood’s experience in regulated financial services and its infrastructure capabilities. The mainnet launch is scheduled for later this year, though specific timing remains to be announced.

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Steven Goldfeder, Co-Founder and CEO of Offchain Labs, emphasized the partnership’s potential in his remarks. “With Arbitrum’s developer-friendly technology, Robinhood Chain is well-positioned to help the industry deliver the next chapter of tokenization,” he stated.

Goldfeder noted the collaboration aims to advance permissionless financial services across the ecosystem. “Working alongside the Robinhood team, we are excited to help build the next stage of finance,” he added.

 

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Ethereum price prediction as 220K ETH leaves exchanges

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Ethereum price prediction as exchange supply shrinks by 220K ETH - 1

Ethereum price is testing a key demand zone as more than 220,000 ETH leaves exchanges, tightening liquid supply during a sharp market pullback.

Summary

  • Ethereum price prediction hinges heavily on ETH holding the $1,850 demand zone.
  • Exchange reserves have dropped by 220,000 ETH, while accumulating addresses now hold 27 million ETH, about 23% of supply.
  • Holding $1,850 could open a rebound toward $2,000–$2,100, while a breakdown risks a move toward $1,750.

Ethereum was trading at $1,975 at press time, down 4% in the past 24 hours. The broader trend remains under pressure. ETH has fallen 12% over the last seven days, 37% in the past month, and is now down 61% from its August 2025 high of $4,946.

Spot trading volume came in at $22 billion, down 11.30% over the past day. On the derivatives side, Coinglass data shows futures volume declining 14% to $47 billion, while open interest dropped 5% to $23 billion.

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That combination suggests traders are closing positions rather than aggressively adding new leverage.

220K ETH leaves exchanges as long-term wallets grow

While price has struggled, on-chain behavior tells a different story.

According to a Feb. 10 analysis by CryptoQuant contributor Arab Chain, more than 220,000 Ethereum (ETH) has been withdrawn from exchanges in recent days, the largest net outflow since October. On Feb. 5, Binance alone recorded approximately 158,000 ETH in daily net outflows, the highest since last August.

Large exchange withdrawals typically reduce immediate sell-side pressure. When ETH moves into private wallets or long-term storage, it becomes less accessible for quick liquidation.

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This doesn’t guarantee upside, but it changes the supply dynamic. If demand stabilizes, a tighter float can amplify price reactions.

Additional data from analyst _OnChain shows that “accumulating addresses” — defined as wallets that have never recorded an outflow, hold at least 100 ETH, and are not linked to exchanges or miners — now control 27 million ETH, or roughly 23% of the circulating supply.

Historically, Ethereum has traded below the realized price of these accumulating addresses only twice in nine years: during the 2025 all-time low and again since January 2026. That context suggests long-term holders are less likely to sell near current levels.

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Ethereum price prediction: Can $1,850 hold?

With lower highs and lower lows, Ethereum is still clearly in a downward trend. Selling pressure increased after the recent drop below the $3,200–$3,300 range, and the price moved closer to the $1,850 support zone.

During the sell-off, the 20-period Bollinger Bands widened considerably, suggesting increased volatility.

Ethereum price prediction as exchange supply shrinks by 220K ETH - 1
Ethereum daily chart. Credit: crypto.news

The price briefly touched the lower band around $1,690, as is often the case with large declines. The middle band, which is now at $2,490, is acting as resistance, while the upper band is situated near $3,290.

The relative strength index fell below 30, entering oversold territory, and currently hovers around 30–32. Momentum is weak, though the pace of the decline has slowed, and there’s no clear bullish divergence yet.

If the $1,850 support holds, Ethereum could stabilize and attempt a rebound toward $2,000–$2,100. A more sustained recovery would require a move above $2,490 to reclaim the middle band and signal a potential trend shift. For that to happen, RSI would need to climb above 40–45, and volume would need to expand on green candles.

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If $1,850 fails, downside risk increases quickly. A break below that level could expose $1,750, followed by the lower Bollinger Band around $1,690. Continued declines in open interest and weak spot volume would reinforce a bearish continuation scenario.

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Banks, Crypto fail to reach agreement in White House stablecoin meeting

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Banks, crypto fail to reach agreement in White House stablecoin meeting - 1

A White House meeting on stablecoin yield and rewards ended without a deal, but participants described the discussions as more productive than previous talks, according to details shared by journalist Eleanor Terrett.

Summary

  • White House stablecoin yield talks ended without a deal, but both banks and crypto firms described the meeting as more productive than earlier discussions.
  • Banks introduced written “prohibition principles” and signaled limited flexibility by acknowledging potential exemptions for transaction-based stablecoin rewards.
  • The White House urged both sides to reach an agreement on stablecoin rewards regulation by March 1, with further talks expected soon.

The gathering brought together senior banking executives, crypto industry leaders, and policy staff to debate whether and how stablecoin issuers should be allowed to offer yield or rewards.

While no compromise was reached, negotiations moved into more detailed territory.

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White House stablecoin talks show progress but no final deal

Banking representatives arrived with a written set of “prohibition principles” outlining firm red lines around stablecoin rewards. These principles detailed what banks are willing to accept and where they refuse to budge.

Banks, crypto fail to reach agreement in White House stablecoin meeting - 1

One notable shift emerged. Banks included language allowing for “any proposed exemption” related to transaction-based rewards.

Sources described this as a meaningful concession, as banks had previously declined to discuss exemptions altogether.

Much of the debate centered on “permissible activities.” This refers to what types of account behavior would allow crypto firms to offer rewards. Crypto companies pushed for broad definitions. Banks argued for narrower limits to reduce risk and regulatory exposure.

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Ripple’s Chief Legal Officer Stuart Alderoty said that “compromise is in the air,” signaling cautious optimism despite unresolved issues.

March 1 deadline looms as talks continue

The meeting was smaller than the first White House session on stablecoins. It was led by Patrick Witt, Executive Director of the President’s Crypto Council. Staff from the Senate Banking Committee were also present.

Crypto attendees included representatives from Coinbase, a16z, Ripple, Paxos, and the Blockchain Association. Major banks in attendance included Goldman Sachs, JPMorgan, Bank of America, Wells Fargo, Citi, PNC, and U.S. Bank, alongside leading banking trade groups.

The White House has urged both sides to reach an agreement by March 1. Further discussions are expected in the coming days. However, it remains unclear whether another full-scale meeting will be held before the deadline.

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xMoney Expands Domino’s Partnership to Greece, Powering Faster Checkout Experiences

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xMoney Expands Domino’s Partnership to Greece, Powering Faster Checkout Experiences

[PRESS RELEASE – Vaduz, Liechtenstein, February 9th, 2026]

xMoney ($XMN) is expanding its partnership with Domino’s, bringing its payment infrastructure to Domino’s Greece following a successful rollout in Cyprus.

The collaboration focuses on acquiring services, enabling Domino’s Greece to accept card payments and digital wallets, including Apple Pay and Google Pay, across both web and mobile ordering platforms.

At the core of the integration is xMoney’s embeddable checkout solution, designed to deliver a seamless payment experience without redirection. Customers complete their orders faster, while all sensitive payment data is securely handled by xMoney’s compliant infrastructure.

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The expansion was announced in person at a community event hosted at SuiHub Athens – a community space established to support builders and Sui ecosystem partners – bringing together the xMoney and Sui teams, Domino’s representatives, and building on xMoney’s previously announced work with Sui to expand real-world payment access across Europe.

“Domino’s operates in a high-volume, real-time environment where speed and reliability are critical,” said Manos Tsouloufris, CTO of Daufood. “xMoney’s checkout solution supports multiple payment methods in a single, seamless flow, helping us serve customers faster at scale.”

While the current implementation focuses on fiat payments, the two teams are also exploring future possibilities around digital asset payments, where network speed, user experience, and confirmation times make sense for real-world commerce.

The launch in Greece represents the next step in a broader European expansion, reinforcing xMoney’s role as a trusted payments partner for brands that operate at scale and its presence within the Sui ecosystem reflects a growing focus on practical, consumer-facing payment experiences built for everyday use.

“When people order food, they don’t think about payments, and that’s exactly the point,” said Gregorious Siourounis, Co-Founder and CEO of xMoney. “Our role is to make checkout fast, reliable, and invisible, so brands like Domino’s can focus on their customers. Bringing this experience to Greece is a natural next step.”

As xMoney expands across markets and merchant use cases, XMN supports the broader ecosystem by aligning long-term participation and infrastructure growth across the network. Designed to sit alongside xMoney’s licensed payment rails, XMN helps structure how value, incentives, and future on-chain capabilities evolve, without impacting the simplicity of everyday checkout experiences.

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Faster checkout. Less friction.

Payments that deliver.

About Domino’s

Founded in 1960, Domino’s Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout pizza. It operates a network of company-owned and independent franchise stores in the United States and more than 90 international markets.

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About xMoney

xMoney is revolutionizing the payments landscape with strategic European licenses, delivering a seamless, secure, and forward-thinking ecosystem powered by innovative product design, cutting-edge technology, and unwavering compliance. XMN, xMoney’s newly launched token, is natively integrated into the licensed and regulated payment infrastructure – empowering merchants and consumers with lightning-fast, trustworthy transactions underpinned by full regulatory transparency. Now trading on Kraken, KuCoin, MEXC, Bitvavo, Bluefin and other exchanges, XMN is primed for broader adoption with a robust pipeline of integrations ahead.

Contact details:

Website: www.xmoney.com

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Crypto Speculation Era Ending As Institutions Enter Market

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Crypto Speculation Era Ending As Institutions Enter Market

The days of outsized gains in crypto may be coming to an end as more risk-averse institutional players are entering the space, replacing retail investors who chase rapid gains, according to Galaxy CEO Mike Novogratz.

Novogratz reportedly said at the CNBC Digital Finance Forum on Tuesday in New York that it reflects the maturing industry. 

“Retail people don’t get into crypto because they want to make 11% annualized,” he said. “They get in because they want to make 30 to one, eight to one, 10 to one,” he said. 

Novogratz referenced FTX’s collapse in 2022, which resulted in a bear market that saw Bitcoin (BTC) prices fall 78% from $69,000 to $15,700 in November that year, stating that there was a “breakdown in trust” then. 

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Novogratz also acknowledged that the Oct. 10 leverage flush, which he called a significant event that “wiped out a lot of retail and market makers,” and increased selling pressure — though there wasn’t any major catalyst.

“This time, there’s no smoking gun,” he said. “You look around like, what happened?”

“Crypto is all about narratives, it’s about stories,” he said. “Those stories take a while to build, and you’re pulling people in … so when you wipe out a lot of those people, Humpty Dumpty doesn’t get put back together right away.”

Tokenized real-world assets will drive markets

Novogratz said he expects the industry to shift from high-return speculation to more practical applications, such as tokenized real-world assets that offer steadier returns.

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However, some traders will always speculate, said Novogratz, but it’s going to be “transposed or replaced by us using these same rails, these crypto rails, to bring banking [and] financial services to the whole world. And so, it’s going to be real-world assets with much lower returns.”

Related: Chainlink co-founder’s 2 reasons this bear market feels different

Chainlink co-founder Sergey Nazarov made a similar argument on Tuesday, stating that tokenized RWAs will “surpass cryptocurrency in the total value in our industry, and what our industry is about will fundamentally change.”

Long-term Bitcoin believers will be fine

David Marcus, the co-founder and CEO of Lightspark and a former PayPal executive, told Bloomberg on Tuesday that there has also been a shift in who is holding Bitcoin

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“It’s just a change of who’s holding Bitcoin, and you’re moving from people that had long-term belief and were holding Bitcoin directly to just access to Bitcoin being wired off to our financial system and markets.”

He added that the change in holders and the Oct. 10 leverage flush have changed the dynamic, but those who have long believed that Bitcoin is a “hedge to everything else that’s happening in the markets” will be fine.

David Marcus speaks on Bitcoin holder changes. Source: Bloomberg

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