Robinhood Chain, the Ethereum Layer 2 network launched by the brokerage on July 1, 2026, recorded $878 million in DEX trading volume within just 24 hours, reaching $25 billion in cumulative volume by late August 2026. However, activity dropped sharply after this initial peak, and the network now faces growing issues with scam tokens that disappear after purchase, leaving users with empty wallets and no recourse. The network itself experienced no service interruptions, with problems occurring at the application and token layer rather than the protocol level. The Arbitrum Orbit stack underlying the chain was largely diverted from its intended use: while Robinhood is betting on tokenized real-world assets, memecoins, particularly CASHCAT, dominated early trading. Reflecting these difficulties, Robinhood’s crypto trading revenue fell 38% year-over-year in the first half of 2026, which the company attributes to broader market conditions.
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