Crypto Updates

Robinhood CEO Vlad Tenev Says Crypto and AI the Two ‘Big Technology Trends’ Transforming Finance

Most Dogecoin Holders Are in Profit While Majority of Shiba Inu Owners Remain Underwater: IntoTheBlock

Robinhood CEO Vlad Tenev says crypto and artificial intelligence are the two major technologies driving changes in financial services.

In a new interview with Patrick O’Shaughnessy on the Colossus podcast, Tenev says that Robinhood has ambitions to play a role in the merging of AI and wealth management.

“I think there’s two big technology trends that could affect financial services. One is crypto, the other is AI. And Robinhood will be a leader in both. I mean we’re already a leader in crypto, and we’re making lots and lots of investments to make sure we’re the leader in AI.

I don’t think the competition is particularly formidable, but I also think that’s not an excuse to get complacent, so yes, I do think we’re going to be doing a lot. And we also, just recently, announced an acquisition of Pluto, which – it’s basically an AI-based investment research product, so you can put in information about companies and investments.”

Tenev says that an oversupply of tokens and memecoins may be distracting people from the underlying potential of crypto technology.

Looking more closely at the technology, the CEO says that crypto offers the “very disruptive” ability for startups to issue tokens upon their formation and raise capital or offer incentives in more efficient ways.

Tenev is also optimistic about stablecoins and their potential to drastically lower the cost of business for many products and services.

“Look at the dollar, stablecoin analogy, we see the efficiency gains of using crypto infrastructure because we have a crypto business and a traditional brokerage business. The cost of offering those services is dramatically lower on the crypto side.

I think it’s very, very likely that when we move off of mainframes and onto blockchains and there’s an efficiency benefit outside of all of these things that I’ve mentioned, I think it’s inevitable, and Robinhood can help drive that, both on the product and technology side and the policy side because we want the U.S. to be a leader here and for us to benefit from all this technology and that – clutch our pearls because we are the market leader already in traditional finance.”

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due…

Click Here to Read the Full Original Article at The Daily Hodl…