Robinhood is evolving far beyond commission-free trading.

In this episode of Endgame, Amanda Cassatt sits down with Johann Kerbrat, SVP & GM of Robinhood Crypto, for an in-depth conversation about how Robinhood is using blockchain, AI, and tokenization to reshape investing. Johann explains why Robinhood built its own Layer 2 on Ethereum, how tokenized stocks work in Europe, why Robinhood believes financial markets should operate 24/7, and how AI is changing the future of investing.

They also discuss crypto regulation, DeFi, prediction markets, Ethereum vs. Solana, Robinhood Wallet, self-custody, and Robinhood’s long-term vision for bringing traditional financial assets onchain. If you’re interested in crypto, fintech, investing, AI, or the future of financial markets, this conversation offers a rare look inside one of the world’s largest retail investing platforms.

In this episode:

• Why Robinhood built on Ethereum and Arbitrum

• Tokenized stocks explained (EU vs. US)

• The future of on-chain ownership

• Robinhood’s vision for 24/7 financial markets

• AI’s role inside Robinhood

• How AI agents could transform investing

• DeFi made simple

• Robinhood Wallet and self-custody

• Ethereum vs. Solana

• Prediction markets vs. gambling

• Robinhood’s acquisition of WonderFi

• The future of global investing

Timestamps:

00:00 Introduction

00:20 What Makes Robinhood Different

02:10 Crypto Fees and Accessibility

04:06 Crypto’s Role at Robinhood

05:06 Tokenized Stocks Explained

09:38 What Investors Actually Own

10:57 Putting Real Stocks Onchain

12:31 The Case for 24/7 Markets

15:48 Why Robinhood Chose Ethereum

18:12 KYC and Decentralization

20:12 Are L2s Good for Ethereum?

21:27 Ethereum vs. Solana

22:45 How Robinhood Uses AI

24:22 AI, DeFi and WonderFi

25:32 Trading vs. Gambling

29:39 What’s Next for Robinhood?

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https://open.spotify.com/episode/45B9szUxVXEwfCDA6uRxwq?si=HT9XXqF9Q2CcM9hfLbmkVg

Endgame on Apple Podcasts: https://podcasts.apple.com/us/podcast/endgame-with-amanda-cassatt/id1801809440

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#EndGame #Robinhood #Tokenization #DeFi #Web3

In this episode of Endgame, the roles are reversed. Timour Kosters takes the mic to interview Amanda Cassatt. Together they explore why technology can both expand and limit freedom, how smartphones and algorithms shape our choices, why LLMs may homogenize culture and creativity, and what crypto still offers as a hedge against centralized control.

They also discuss Bitcoin, Ethereum, stablecoins, financial privacy, AI’s impact on society, TikTok, purpose, meaning, and why Amanda rejects a traditional “endgame” altogether.

Timestamp

00:00 — Turning the tables

02:15 — The Ethereum years: Making the complex legible to the world

06:40 — The iPhone Trap: Why you don’t own your digital life

11:55 — Root Access: Why we are living in a state of "Digital Serfdom"

16:30 — LLMs vs. Human Thought: The homogenization of everything

21:10 — Why Bitcoin and Ethereum are bulwarks against authoritarianism

25:45 — The "Digital Marshall Plan": Stablecoins and the future of sovereignty

30:15 — Edge City and the birth of the Network State

35:50 — "If you have a goal, you're co-optable": The philosophy of agency

42:20 — Infinite vs. Finite Games: Who is writing your menu?

48:10 — Strengthening from the inside vs. regulating from the outside

49:58 — The story of the rising water: Breaking the frame of San Francisco

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How Swift works is one of the most misunderstood topics in crypto payments. Tom Zschach spent six years as Chief Innovation Officer at Swift, and he has unique insights to share.

In this episode:

• Why stablecoins aren’t replacing Swift; they’re connecting to it

• Why Tom called Ripple a fax machine and stands by it

• Why a token isn’t money and what that means for settlement

• Why faster and cheaper isn’t the real prize- certainty is

• What it actually takes to move $50 million into Singapore when there’s no alternative

Adam Back invented the proof-of-work system that became Bitcoin's foundation. The New York Times says he's Satoshi Nakamoto. He says he isn't, but he was the first person Satoshi ever emailed.

Every major publication is asking whether quantum computing will break Bitcoin. The consensus is nervous. Adam Back, the man who built Bitcoin's cryptographic foundation, is not.

In this conversation, he explains why none of the quantum computers that exist today can perform a useful calculation, why you shouldn't expect a real threat before 2035 at the earliest, and why the institutions buying Bitcoin through BlackRock ETFs changed themselves. Not Bitcoin.

They also get into the real state of building on Bitcoin, why Lightning Network channel numbers are shrinking is actually fine, how $2 billion in Mexican promissory notes ended up on a Bitcoin layer 2, and what a lifelong cypherpunk actually thinks about AI.

Also in this episode

- Why Lightning Network channel numbers are shrinking (and why that's fine)

- How $2 billion in Mexican promissory notes ended up on a Bitcoin layer 2

- What a lifelong cypherpunk actually thinks about AI

Timestamps:

0:00 Intro

0:30 Is Adam Back Satoshi?

1:37 Does the speculation bother him?

1:53 First contact: Satoshi reached out to Adam

2:53 Weirdest thing about being a Satoshi suspect

3:21 Hashcash and the CipherPunk mailing list

4:28 Why proof of work was the breakthrough

4:58 CipherPunk identity vs. BlackRock adoption

6:02 How he reconciles crypto anarchism with institutions

8:01 Are institutions changing Bitcoin or vice versa?

9:25 The case against institutional Bitcoin

10:19 Paper Bitcoin and synthetic derivatives

14:04 Why governments are buying gold, not Bitcoin

16:41 Has "build on Bitcoin" failed?

19:32 Lightning compression isn't a demand signal

19:57 Stablecoins and RWAs on Bitcoin layer 2

21:20 Why Mexican promissory notes ended up on Liquid

22:03 Adam's stance on quantum panic

23:33 The timeline skepticism

26:45 The danger of rushing a quantum solution

28:18 The security budget problem

31:13 What does a CipherPunk think of AI?

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Cultural theorist and essayist Toby Shorin joins Amanda Cassatt to explore one of the most urgent questions of the AI era: What happens to the human body and human meaning when thinking itself becomes commodified?

Drawing on his essay “Body Futurism,” Toby argues that we’re witnessing a massive embodied turn in culture, from peptides and biohacking to looks-maxing and sports investment. But the real question isn’t just why people are obsessing over their bodies; it’s whether that obsession represents liberation or a new form of algorithmic hijacking.

In this episode, they discuss:

- Bryan Johnson’s “don’t die” philosophy and why it’s rooted in fear, not vision

- The difference between a protocol and a practice, and its political consequences

- Who actually benefits from the loneliness epidemic narrative

- What the “AI mind virus” looks like from inside the Bay Area

- Why poetry might be the only genuine escape from the optimization loop

If you’re interested in the intersection of AI, culture, embodiment, and meaning, this conversation is not to be missed.

Timestamps:

0:00 Introduction

2:44 Why everyone is obsessed with their body right now

7:08 The philosophy behind biohacking and morphological freedom

10:42 Why "don't die" is actually a fear-based philosophy

13:27 What AI really threatens it's not your job

14:50 AI mastered chess. Chess adoption only grew.

18:05 Why PE firms are buying sports teams

20:41 Body as asset vs. body as practice

26:24 What is a narrative subsidy?

28:44 Who actually benefits from the loneliness epidemic

29:20 We forgot how to do the dance

31:52 Did Andrew Huberman invent seeing light in the morning?

32:44 How insurance culture took over everyday life

36:45 Two ways out of the optimization loop

38:00 The poetic way of seeing

40:29 Toby reads a poem he wrote this morning

42:09 The William Carlos Williams connection

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Your identity, your assets, your privacy, do you actually own any of it online?

Binji Pande from the Ethereum Foundation says no. And he's spent his career trying to change that. In this episode, Amanda sits down with Binji to explore why crypto is really about redesigning human incentives, what digital rights actually mean, and what it would take to build a world where freedom online isn't a privilege.

Timestamps:

00:00 Introduction

03:21 How Binji got into crypto

05:17 If you can program money, you can change the world

09:53 Moloch, prisoner's dilemmas & why the system isn't evil, just indifferent

13:48 From Northwestern to Coinbase: breaking into crypto without a CS degree

15:12 The Ethereum tattoo and what it really means

18:23 Hardware. Software. Trustware.

20:05 How do you know if Ethereum is actually decentralized?

26:29 Ethereum's communication challenge

31:41 Digital rights: you can lock your bathroom door, why not online?

37:16 Privacy as dignity: data breaches, ZK, and the next frontier

43:19 CROPS: what the Ethereum Foundation actually stands for

44:44 Ethereum's roadmap: Is it shipping fast enough?

45:04 Canton, Tempo, competing chains, should Ethereum be worried?

47:00 The world worth building

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@binji_x

Everyone in crypto is chasing TPS

Eunice Giarta thinks that's the wrong race entirely

As co-founder of Monad Foundation, she spent four years building what she calls the Ethereum of high-performance blockchains a chain with validators on six continents, in 30 countries and 58 cities, that doesn't sacrifice decentralization for speed.

In this episode of Endgame, Amanda Cassatt sits down with Eunice to break down what actually makes a blockchain worth building on in 2026, what the real killer use case for Monad looks like, and why bear markets build better products than bull markets.

But the most unexpected part isn't the tech it's the path. Eunice went from Merrill Lynch to Shutterstock to a pastry kitchen at Jean-Georges in New York. A Pi Day pandemic layoff sent her down the crypto rabbit hole. Four years later, she co-founded one of the most talked-about L1s in the space.

Timestamps:

0:00 Why there's no solid high-performance chain yet

2:30 Monad's 200 validators across 6 continents

5:30 Placing Monad on the decentralization spectrum

9:00 Why TPS is a misleading metric

12:00 The real use case: on-chain order books

15:30 How to measure real demand vs. incentive-driven usage

19:30 What AI agents would use Monad for

22:00 RWAs and institutional adoption

24:00 Monad's token launch and the bear market

27:00 From trading analyst to pastry chef to blockchain co-founder

31:30 Favorite macaron: chocolate miso from Pierre Hermé

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“A lot of users don’t need a bank. What they need is a wallet.”

In this episode of Endgame, Amanda Cassatt sits down with Richard Teng, CEO of Binance, for a conversation about what crypto actually became and whether that’s the right thing. Richard spent three decades in traditional finance, including the Central Bank of Singapore, before joining Binance in 2021. He doesn’t argue like a convert. He argues like someone who watched the old system fail for thirty years and decided the new one had to work differently.

They start at the founding question: is crypto self-sovereign freedom tech or licensed infrastructure run by a handful of platforms? Richard’s answer is that the frame is wrong. Centralized exchanges aren’t a betrayal of the movement. They’re the interface the movement needs to reach the 1.4 billion people the financial system never bothered to serve. From there they move through Binance’s regulatory strategy in markets like Dubai, why the Genius Act sent stablecoin volume past Visa in under a year, and why regulatory clarity is the unlock for institutional capital, not just compliance overhead.

Amanda pushes on financialization risk, tokenization of ownership, and whether crypto has run out of native narrative. Richard’s case for the SAFU fund, recovering assets sent to wrong chains, and what a financial super app means in frontier markets is the clearest argument for why centralization isn’t just commercially convenient but structurally necessary for the thing to work at all.

Timestamps:

00:00 - Is crypto still freedom tech or licensed infra?

00:55 - 1.4 billion unbanked: why the system fails them

03:00 - Why 65% quit after their first onchain transaction

05:04 - What a bank actually does and what replaces it

07:30 - Binance as a financial super app for the excluded

09:30 - Binance does more for inclusion than governments

11:02 - China, protectionism and why countries need Binance

13:52 - The Dubai story: building a crypto hub from scratch

17:09 - Regulation as a moat vs regulation as a product

19:32 - The Genius Act and the stablecoin explosion

21:37 - Is compliance becoming incumbent protection?

24:39 - Binance's approach to the US market

26:29 - AI + Blockchain will rebuild every industry

28:42 - Will AI suck all trading value to the biggest firm?

33:11 - Binance AI Pro: what it actually does

36:46 - Crypto out of ideas? RWAs and the next narrative

39:14 - Why 24/7 trading changes everything

41:38 - Invisible crypto and the abstraction risk

45:58 - Hyperliquid vs Binance: who wins?

48:47 - Where does Binance's growth actually come from?

50:00 - The future: wallets replace banks

52:16 - The SAFU fund: $1B to protect users

54:23 - Crypto's real legacy: financial education

56:00 - Do banks really create money from a spreadsheet?

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