What if accredited investors were judged on knowledge instead of net worth? Robinhood VP Nicola White says the company is working with regulators on this "You definitely have the accredited investor laws that you need to be aware of and think through." "We've seen a couple pieces published on this recently. In this new world of AI and information that's readily available at people's fingertips, should we be thinking about changing how accredited investors work?" "Should it be based on a knowledge test or education standards or whatever it ends up being so that it's not based on net worth? That really allows people to accumulate wealth earlier in their finance journey." "That's something that we're spending time on. We're working with regulators, and hopefully we see some change there, not only in the US, but across jurisdictions."

Not everybody has $50 million sitting in their back pocket. Robinhood VP Nicola White says tokenization lowers that barrier, letting retail investors access private markets "It's a space that's been walled off for too long. It hasn't been available to retail customers, and with companies staying private twice as long as they usually do, that's where a lot of the wealth generation happens." "It's an important space that we're focused on, making sure that our retail investors have access to those investments earlier in not only the company's life cycle, but also in their life cycle." "Tokenization is the perfect product for that. If the minimum investment in one of these companies is $50 million, you can make that investment, tokenize it, and then offer it out to your customers in a size that they can think about digesting." "Not everybody has $50 million sitting in their back pocket to get access to some of these investments."

Perps exposure, but maybe not 100x leverage. Robinhood VP Nicola White on making sure perpetual futures are safely accessible onshore "I think we're seeing the pace of innovation increase, and clearly it's going to raise some questions. But we're encouraged by what this means for investors and the breadth of product." "We've pushed so much business offshore by not having clear rules of the road onshore. And now that we're starting to get those rules, I think you're seeing innovation and also money flow back onshore." "So that's what we want. We want to make sure that it's offered to customers in a safe and regulated space, and that they're able to get perps exposure, but maybe not 100x."

Fidelity calls perpetual preferred stock Bitcoin's newest demand catalyst: products like STRC and SATA have funded 135,979 $BTC "Fidelity just measured how an existing financing channel funded Bitcoin purchases." "Perpetual preferred stock, the newest demand catalyst in Bitcoin. That is quite a monster headline in my humble opinion. When you have Fidelity talking about a demand catalyst for Bitcoin, you should be listening." "Perpetual preferred stock obviously is STRC and SATA, products that I tell you about all the time." "135,979 Bitcoin have been purchased, funded solely by these perpetual preferred stocks. That was funding through October 5th, so obviously that number is probably a little higher now, 2 weeks later." "That represents 0.65% of Bitcoin's maximum 21 million supply, and we all know that there is not 21 million Bitcoin because probably 5 or 6 million of those have been lost, so that number is actually much higher."