Robinhood CEO Vlad Tenev Slams Biden's 'All-Out Assault' On Crypto, Says Company Is 'Fortunate' Under Trump Administration

Robinhood Markets Inc. HOOD CEO Vlad Tenev expressed relief over the new administration’s approach to financial services and cryptocurrency following the Securities and Exchange Commission’s decision to drop its investigation into the company’s crypto business.

What Happened: “It’s nice to not have to play as much defense,” Tenev told CNBC’s Jim Cramer in a Tuesday interview. “Frankly, in the last administration, we were playing a lot of defense. There was an all-out assault on not just crypto but individual retail trading in general.”

The SEC informed Robinhood on Monday that it had closed its investigation, which began under Former President Joe Biden. The agency had previously warned the company last May about potential penalties for not registering certain crypto assets as securities.

This regulatory shift extends beyond Robinhood. The SEC recently dropped cases against Coinbase and Uniswap Labs, the creator of the world’s largest decentralized crypto exchange. A Uniswap spokesperson told Benzinga the company is “grateful that this investigation is behind us” and will continue working with regulators on a “workable regulatory framework for crypto.”

See Also: Meta Gears Up For AI Dominance With $200 Billion Data Center Project: Report

Why It Matters: The developments align with President Donald Trump‘s more lenient stance on crypto regulations compared to the enforcement-focused approach under the previous administration.

Tenev praised the current administration’s goals, saying, “We’re fortunate to have an administration that wants the U.S. to be number one in AI and financial services and crypto.”

Looking ahead, Tenev highlighted prediction markets as “the future of trading” and “the future of information.” He also noted progress in Robinhood’s options offerings, including the rollout of index options, which have been among the fastest-growing sectors on the platform.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.