Latest news with #JohannKerbrat
Yahoo
5 days ago
- Business
- Yahoo
Bitcoin hovers near record high as investors flock to crypto safe haven amid geopolitical uncertainty
Bitcoin's rally is rolling on, with its price sitting near a record high as investors are piling into the cryptocurrency amid a storm of global economic uncertainty, a downgrade of U.S. debt and growing confidence in the forthcoming regulation of digital assets. At the heart of this surge are several powerful catalysts, according to analysts and executives gathered at this year's Solana Accelerate Conference. Among the top reasons for the rally: bitcoin's rising status as a safe haven asset, mounting geopolitical instability and a wave of institutional adoption. "Bitcoin is starting to behave as a safe haven asset, and there's more and more instability in the world," said Chainlink co-founder Sergey Nazarov. "For the first time now, it's starting to get decoupled from tech stocks. So, if you wanted to choose a second safe haven asset after gold, bitcoin would now be a logical choice." Johann Kerbrat, senior vice president of Robinhood Crypto, echoed this sentiment, telling FOX Business that "people see bitcoin as a reserve as well. And so, when there is a bit of instability in the market or in the globe, they actually use bitcoin as a reserve currency." Adding fuel to the rally: optimism that meaningful crypto legislation is finally within reach. Momentum is building in Congress, with both chambers considering key regulatory frameworks for stablecoins – digital currencies pegged to traditional assets like the U.S. dollar – and market structure bills that would define how digital assets are traded and held. Read On The Fox Business App Jpmorgan Ceo Jamie Dimon Clears Bitcoin For Bank "I think in 10 days we will have it completed and through the Senate," Sen. Bill Hagerty, R-Tenn., said last week, referring to the GENIUS Act – short for "Guiding and Establishing National Innovation for U.S. Stablecoins." Rep. French Hill, R-Ark., a leading voice in House crypto policy, told FOX Business, "We have no rules on this. And so these are significant, because if we have rules about a payment stablecoin and a market structure bill... then money will come back to the U.S., innovation will come to the U.S., and we'll be the No. 1 fintech digital assets country in the world. That's what I want to do." Hill also emphasized the urgency and strategic importance of moving forward before lawmakers break for the summer. "We're looking forward to the Senate passing the GENIUS Act, seeing what it contains, how it's structured, and how we can work together to get to the president's desk a dollar-backed stablecoin before the August recess," he said. Kristen Smith, president of the Solana Policy Institute, added that support for crypto policy is cutting across party lines. "It's a bipartisan issue," Smith said. This isn't something that only Republicans or only Democrats care about. This is really an American issue. And I think that that is starting to translate into the markets with some comfort that our economy is stabilizing, that the policies are coming into place, and that this is an opportunity for growth in the crypto industry from here going forward." Us Solidifying Itself As Bitcoin Mining Hub Cryptocurrency has also made its way to the top levels of the Trump administration, with Vice President JD Vance heading to Las Vegas to deliver the keynote address at this year's Bitcoin Conference on Wednesday. Further highlighting the mainstreaming of crypto, a dozen U.S. bitcoin exchange-traded funds (ETFs) have attracted robust inflows, with investors pumping in about $4.2 billion so far in May. This surge in institutional interest marks a major shift in how traditional investors approach digital assets, viewing them less as speculative bets and more as components of diversified portfolios. Meanwhile, The Wall Street Journal reports that major U.S. banks are exploring partnerships with crypto firms to issue a joint stablecoin. The move comes amid growing concerns that private sector stablecoins could start to siphon off customer deposits and reshape how money moves across the financial system. "I think the banks want to be part of that payment space," Hill added. "Banks have moved to real-time payments now… I think you can also predict in the future that we'll have 24-hour-a-day, seven-day-a-week, tokenized transactions in securities or in payments." With the global financial system in flux, regulatory clarity on the horizon and institutional investors entering the fold, bitcoin's breakout could be just the beginning of a broader transformation of how value is stored and moved. Whether bitcoin becomes the digital gold of the 21st century or something altogether different remains to be seen. But one thing is clear: the crypto world is no longer on the fringe – it's front and article source: Bitcoin hovers near record high as investors flock to crypto safe haven amid geopolitical uncertainty
Time of India
17-05-2025
- Business
- Time of India
World leader in digital assets? Toronto emerges as a global blockchain hotspot as Canada's steady crypto rules outpace America's political gridlock
While US legislators are stuck in regulatory gridlock, Canada has quietly established itself as a world leader in cryptocurrency and blockchain technology, and Toronto as a hub of innovation, as per a report. Canada's Head Start on Crypto Regulation According to CNBC, Canada was one of the first countries to enact rules for crypto, by starting with anti-money laundering guidelines in 2014 and then it has consistently updated its regulatory guidance. Toronto Becomes a Crypto Launchpad CNBC wrote that the "regulatory clarity has made Toronto a launchpad for blockchain growth." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Live Comfortably: 60m2 prefabricated bungalow for the elderly in Libertad Pre Fabricated Homes | Search Ads Search Now Undo Companies are now seeing an opportunity in Canada, with American financial services company Robinhood's recent acquisition of Canadian crypto firm WonderFi, which is the owner of Bitbuy and Coinsquare, to get access to Canada's established user base, reported CNBC. ALSO READ: What led to Moody's downgrading the U.S. credit rating to Aa1, first time in over a century? Here are the reasons the agency cited and why Americans should be worried Live Events Robinhood's crypto chief, Johann Kerbrat highlighted that, 'Canada is a very attractive market for us,' adding, 'It's projected to be more than 30 million users using crypto here in Canada, with revenue projections of about $900 million in 2025,' as quoted in the report. Major Announcement at Consensus 2025 in Toronto During Consensus 2025 in Toronto, which is one of the globe's bigest crypto conferences, JPMorgan, Ondo, and Chainlink revealed to bet $100 billion on blockchain with a new platform to tokenize real-world assets, according to CNBC. Ondo Finance CEO Nathan Allman said that, 'It's really the first time that there's been this interoperability between a bank's permissioned blockchain environment and a public blockchain,' quoted CNBC. ALSO READ: Moody's downgrades U.S. rating from AAA to Aa1; what are the consequences of this move, and will the economy be affected? Here are all the details Both Ondo and Chainlink said that, the new offering will allow treasuries to be tokenized and settled using blockchain, combining JPMorgan's Kinexys Digital Payments network with Ondo's blockchain infrastructure, reported CNBC. FAQs Why is Canada suddenly seen as a crypto leader? Because it started regulating crypto as early as 2014 and has provided consistent, clear rules that make it easier for companies to grow. How has Robinhood entered the Canadian crypto market? Robinhood acquired WonderFi, a Canadian crypto firm, giving it access to platforms like Bitbuy and Coinsquare.
Crypto Insight
17-05-2025
- Business
- Crypto Insight
Tokenization makes investing more accessible — Robinhood exec
Tokenization could open new opportunities for retail investors to access traditionally restricted asset classes, according to Johann Kerbrat, senior vice president and general manager of Robinhood Crypto, who called it 'very important for financial inclusion.' Speaking at the Consensus 2025 event in Toronto, Kerbrat said that some real-world assets, such as real estate and private equity, are available only to up to 10% of the US population. 'You need to be an accredited investor to invest in private equity right now,' he said. 'How many people can afford a house or an apartment in New York?' he elaborated. 'But you can get a piece of it with fractionalization, through tokenization. And so we think it makes it a lot easier to be exchanged, a lot more accessible for everybody.' Robinhood has been one of a handful of investment firms or brokerages that have explored RWA tokenization in recent months. Others include BlackRock, Franklin Templeton, Apollo, and VanEck. RWA tokenization is often touted as a means to enhance financial accessibility, with most tokenized funds currently concentrated on the private credit and US treasury markets. According to on May 16, the total market capitalization of onchain RWA is $22.5 billion across just 101,457 asset holders. On average, each holder owns $221,867 in onchain assets. Stablecoin evolution will create more 'specialized' tokens Kerbrat also touched on stablecoins, which have emerged as a key crypto use case this cycle. 'You will see 100 stablecoins,' he predicted. Kerbrat expects a rise in stablecoins that are 'more specialized in a specific market.' According to DefiLlama, dollar-pegged stablecoins dominate the stablecoin sector. The two largest, Tether's USDt and Circle's USDC, account for $211.8 billion or 87.1% of the $243.3 billion stablecoin market cap. 'If you're trying to move funds from the US to Singapore, maybe you will use a specific stablecoin,' he said. 'The shift is going to go from just stablecoin to platforms that are managing all these stablecoins.' Fireblocks policy chief Dea Markova recently told Cointelegraph that there is a growing demand for non-dollar-pegged stablecoins. In April, the Italian finance minister warned that dollar-pegged stablecoins represent a greater risk than US President Donald Trump's tariffs. Source:
CNBC
15-05-2025
- Business
- CNBC
Robinhood Crypto GM discusses trading platform's deal with Canadian crypto firm WonderFi
Johann Kerbrat, the general manager of Robinhood Crypto, discusses the company's new deal with Canadian crypto firm WonderFi from Consensus 2025.
CNBC
15-05-2025
- Business
- CNBC
The U.S. has struggled for crypto clarity. Canada may have the answer
TORONTO — Canada has quietly become a global leader in digital assets. Canada was among the first countries to enact rules for crypto, starting with anti-money laundering guidelines in 2014. The country has repeatedly evolved its regulatory guidance in recent years, while U.S. lawmakers remain stuck in gridlock — even with a pro-crypto White House and a Republican-controlled Congress. That regulatory clarity has made Toronto a launchpad for blockchain growth, and Wall Street is taking notice. Robinhood's recent acquisition of Canadian crypto firm WonderFi, owner of Bitbuy and Coinsquare, plugs it into Canada's established user base. "Canada is a very attractive market for us," said Johann Kerbrat, Robinhood's crypto chief. "It's projected to be more than 30 million users using crypto here in Canada, with revenue projections of about $900 million in 2025." The company's decision to spend just under $180 million to buy WonderFi, which has one of the longest-standing crypto licenses in the country, is a direct bet on that growth. Galaxy Digital, the digital asset investing giant founded by Mike Novogratz, is headquartered in New York but listed in Canada because it couldn't go public in the United States. After being among the first to launch spot bitcoin ETFs in the U.S., Galaxy will finally debut on the Nasdaq on Friday. DeFi Technologies, a Canadian player focused on being the Strategy of Solana, is also planning a U.S. listing. "A lot of companies have started on the Toronto Stock Exchange and are trying to uplist into the Nasdaq," said Ondo Finance CEO Nathan Allman. "I think we're going to see more of that." At Consensus 2025 in Toronto, one of the world's largest crypto conferences, JPMorgan, Ondo, and Chainlink announced a $100 billion bet on blockchain with a new platform to tokenize real-world assets. The two firms say the new offering allows treasuries to be tokenized and settled using blockchain, combining JPMorgan's Kinexys Digital Payments network with Ondo's blockchain infrastructure. "It's really the first time that there's been this interoperability between a bank's permissioned blockchain environment and a public blockchain," Allman said. Crypto dealmaking has shown signs of life in recent months, as the United States has shifted its regulatory approach under President Donald Trump. The Federal Deposit Insurance Corporation and Federal Reserve have eased restrictions on banks handling crypto, rolling back prior guidance that required pre-approval for digital asset activities. The Securities and Exchange Commission has also taken a significant step by rescinding its restrictive accounting bulletin, which had forced companies holding crypto assets for clients to record them as liabilities. The new approach aligns crypto custody with traditional financial instruments. At the same time, the SEC has launched a new Crypto Task Force, inviting public input on how to better regulate digital assets. This self-driving car technology stock could pop by more than 400%, say three analysts Looking for alternatives to Nvidia? Futurum CEO names 3 he's bullish on for 2024 Bernstein tech analyst's best idea for 2024 is to short Tesla Morgan Stanley picks 'alpha' opportunities in China tech - giving one 52% upside "They want large enterprises like Citi to have a seat at the table," said Ryan Rugg, global head of digital assets for Citi's Treasury and Trade Solutions division. "They're asking for our opinion, where I think in the past, it was not quite the case." The booking of Eric Trump, the president's son and a leader of the newly-formed American Bitcoin, as a headline speaker, highlighted the growing presence of the U.S. in the crypto arena. The firm made waves when it launched in March, and already intends to go public through a merger with Gryphon Digital Mining. "It's important to remember: Most countries are totally neutral on blockchain," said Dan Morehead, CEO of Pantera Capital. "The U.S. had a fairly antagonistic stance on blockchain which made it difficult for companies to get bank accounts, made it difficult for companies to go public." He said he believes many companies that would have gone public a few years ago will hit U.S. markets in the next six months. "There's obviously tremendous appetite in the public markets," he said. Israel-based crypto and stock trading platform eToro went public on Wednesday after pricing above its expected range. Shares soared nearly 29% on its first trading day. The advancements in the U.S. aren't without setbacks. A first-of-its-kind stablecoin regulation bill failed to advance in the Senate after Democratic lawmakers raised concerns about national security, while others expressed concerns about the president's ties to crypto. Still, the payment giants are charging ahead. Mastercard announced Thursday that it's partnering with Moonpay to let customers use debit cards to transact using their stablecoin balances. PayPal announced Wednesday that it's partnering with artificial intelligence platform Perplexity to enable chat-powered shopping. PayPal's senior vice president of blockchain, crypto, and digital currencies told CNBC at Consensus 2025 that he sees a future where customers could transact in AI chats with their PayPal stablecoins or other crypto holdings. "We are trying to make sure that PayPal and Venmo are the gateway product to get more people into crypto," said Jose Fernandez da Ponte, PayPal's senior vice president of blockchain, crypto, and digital currencies. "A lot of people get into crypto through us, and that leads us to continue to add tokens." While PayPal leans on accessibility and payments, Robinhood is doubling down on tokenization and staking to capture both retail and institutional users. "This debate here in the U.S. is really important — it shows that we want to embrace the technology instead of just regulating it and turning it off like it was before," Kerbrat said, describing his appearance at an SEC roundtable under new chair Paul Atkins. The company sees blockchain technology as a way to transform everything from stocks to private equity markets and real estate into digital tokens that can be traded instantly. "We think at Robinhood that it is actually the future, and we can bring a lot more traditional assets on-chain using tokenization," Kerbrat added.
