Robinhood’s high-risk bet: bringing millions of everyday users into centralized finance

[Plain-language briefing] Robinhood wants to replicate not necessarily Hyperliquid, but a bigger on-chain on-ramp for retail investors: directly bringing in traditional brokerage users who have never touched perps, lending, or on-chain assets into Web3.
But the market’s first answer for it has been brutal—users rushing in to trade first weren’t RWA, but meme coins like CASHCAT. Why would a new chain that originally pitched “financial democratization” and tokenized stocks get defined first by speculative sentiment?
What Robinhood needs to answer might not be whether it can onboard users to the chain, but what users will actually do after they’re onboarded.
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