Federal prosecutors charged Hefu Chai and Huaisong Xiang with commodities fraud and wire fraud for allegedly using confidential information about upcoming Robinhood crypto listings to trade perpetual futures on Hyperliquid ahead of public announcements.
The total market cap of assets on Robinhood Chain has climbed to approximately $1.87 billion, with tokenized stocks accounting for $73 million in DeFi deposits. The blockchain launched less than a month ago.
Robinhood Chain posted $3.7 billion in 24-hour decentralized exchange volume on September 5, a new all-time high for the Arbitrum-based Layer 2 network launched in July 2026. Weekly DEX volume reached approximately $10.47 billion.
AMC Entertainment CEO Adam Aron publicly called on Robinhood to stop trading tokens linked to AMC shares, calling the products 'contemptible, outrageous, and vile.' Robinhood's chief legal officer refused the demand, escalating tensions over synthetic equity products.
Applications on the two-month-old Robinhood Chain generated $2.66 million in 24-hour revenue, ranking second behind Solana and surpassing Ethereum, Base and other established networks. The network processed a record 5.52 million transactions driven primarily by memecoin launchpad activity.
Binance.US CEO Stephen Gregory announced the exchange will apply for a CFTC Designated Contract Market license next month to launch prediction markets, joining competitors Gemini, Coinbase, Robinhood, Kalshi and Polymarket in the space.
Morgan Stanley began offering cryptocurrency trading through its E*TRADE platform at 0.5% transaction fees, undercutting competitors like Coinbase, Robinhood, and Schwab in a move that intensifies pricing competition among traditional finance firms entering crypto.
Wisconsin Department of Justice filed lawsuit against five prediction market platforms, alleging their sports event contracts violate state gambling laws, citing platform language as evidence of gambling rather than investing.
