Robinhood CEO Vlad Tenev goes all in on AI, crypto, and Trump

Robinhood CEO Vlad Tenev is pro-artificial intelligence, crypto, and the policies of the Trump administration. In a recent interview with Bloomberg, Tenev spoke deeply about his vision for a market with regulatory shifts, a pro-crypto US president, and what AI means for the future of stock markets.

On US President Donald Trump’s impact on the market, Tenev believes the current administration could create a playing field where both AI and crypto can co-exist and flourish. He expects the government to adopt more clear regulations and work closely with the private sector to ensure the US leads in most of the industries. 

“They’ve got smart people thinking through these problems,” he said, reiterating that reduced bureaucracy and clearer rules could encourage more businesses to innovate and expand.

Do crypto and stocks need a merged market?

Some analysts may view crypto as a separate asset class, but 38-year-old Tenev sees it more like a technological tweak that compliments the traditional financial markets. 

“I like to think about crypto less as a distinct, tradable asset and more as a new technology, so, along the chain of filing cabinet and pen and paper, to mainframes. If you’ve got a tradable token on all blockchains, and it’s liquid, that’s essentially an IPO,” he explained. 

Under the Bulgarian-American businessman’s direction, Robinhood jumped into prediction markets, and it now allows users to bet on events like elections just like the decentralized betting marketplace Polymarket. 

Still, Tenev insists his platform’s market is not necessarily gambling because the odds are not “set by the house” but rather governed by a regulated exchange. 

“What that allows is better price discovery. Just like how we’re looking at stock markets today and making assessments for which way the tariffs are going to go, what the impact is going to be on the economy,” he expounded.

AI is now part of the financial industry

In 2023, Tenev collaborated with programmer Tudor Achim to create Harmonic, an AI startup focused on mathematical superintelligence. According to the two co-founders, Harmonic’s large language model (LLM) is “capable of advanced mathematical reasoning and problem-solving.”

The Robinhood CEO claims that advancements in AI-driven math could add to the betterment of fields like physics, biology, and chemistry, and create “breakthroughs” in energy generation and longevity.

“If you become superhuman at math, you essentially become superhuman across any quantitative science domain, and then you start making serious progress on problems like energy generation, longevity, and fundamental physics.”

Concluding the interview, Tenev reckoned that in financial markets, AI has done more to make its presence impossible to ignore. 

“A lot of the AI investment interest is concentrated on Nvidia. It’s become the No. 1-held stock on Robinhood, surpassing Tesla, which is another AI stock in its own right. If control over the technology is going to be centralized in the companies, then you have to be an investor.”

Robinhood’s crypto activity follows the market decline trend

In other developments, Robinhood’s shares surged about 7% in pre-market trading on Thursday and have climbed 130.57% over the past year. The price uptick comes after Deutsche Bank recently called the stock’s recent selloff a “good buying opportunity,” backing its claims over the platform’s trading volumes in equities, options, and increased customer deposits.

Yet, the current crypto market slump has taken a toll on its trading volumes. According to a press release published on Tuesday, Robinhood recorded $14.4 billion in crypto transactions in February alone, a 29% drop from the previous month.

In contrast, equities and options trading saw only marginal declines of 1%. Still, the company’s crypto trading volume has doubled its level from the previous year.

Robinhood’s overall assets under custody (AUC) stood at $187 billion at the end of last month, an 8% dip from January but a 58% increase year-over-year. Net deposits reached $4.8 billion for the period, which represents an annualized growth rate of 28%.

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