In the latest post on X (formerly Twitter), Artemis CEO Jon Ma urged Robinhood to steer its newly launched blockchain away from becoming a memecoin platform.
In the post, Ma bluntly stated, “Please don’t f*ck it up by making Robinhood a memecoin chain.”
Ma, whose firm Artemis provides on-chain analytics, raised concerns that the initial activity around speculative meme tokens could undermine Robinhood’s main goal. He acknowledged that the short-term boost on the network through memecoins can increase volume and users; however, the chain should refrain from creating over-dependency on them.
Ma said, “I was horrified and sad when I went into my Robinhood Wallet last week and saw that I could really only trade meme coins and in just 3 days since buying a nominal amount of $CASCHAT, I’ve been air dropped a ton of random and meaningless tokens.”
What Jon Ma Said in the Post About Robinhood Chain
Robinhood Chain currently is a meme coin chain. PIC.TWITTER.COM/TWBQMV6BSG
— Jon Ma (@jonbma) JULY 14, 2026
In the detailed statement, Ma shared his views on Robinhood Chain’s on-chain activities. He mentioned that while the Robinhood Crypto team looks like it is using memecoins to gain initial momentum on the network, the company already has strong brand recognition and distribution power to help people invest in quality businesses around the world.
Ma also mentioned that many people lose money on memecoins. This is completely the opposite of Robinhood’s main focus on making global finance and investing smoother through its platform. He highlighted previous brand challenges, such as associations with the GameStop (GME) saga and criticisms around payments for order flow. Ma suggested that the company should avoid similar types of pitfalls.
“Please ACTUALLY focus on RWAs on Robinhood chain to expand financial access to more and more investors who can trade stocks and pre-IPO companies. @RWA_xyz @artemis would gladly help highlight these use cases,” Ma said.
Ma recalled public statements from Robinhood leaders like CEO Vlad Tenev and Johann Kerbrat. They have promoted the chain for real-world assets (RWAs), tokenized stocks, and on-chain finance during the launch.
However, in the latest post on X, Vlad Tenev said that “While we’re building Robinhood Chain to be the best chain for RWA … it works great for memes too.”
Robinhood Chain Becomes Third Biggest Blockchain with Spot DEX Volume
Robinhood rolled out its public mainnet of Robinhood Chain in early July 2026. It is a permissionless Ethereum Layer-2 network, which is developed using Arbitrum’s technology. It comes with block times of around 100ms, Ethereum security, and native integration with Robinhood’s wallet.
The chain is mainly developed to integrate financial services, tokenized real-world assets, AI-based applications, etc. The blockchain also allows users to trade tokenized stocks, such as NVDA, GOOG, and more. In order to get an accurate price feed, the blockchain has integrated Chainlink oracles.
The on-chain metrics have impressed the entire blockchain sector, as at present, Robinhood is the third biggest blockchain in spot DEX volume. The blockchain has already processed more than 17 million transactions with approximately 350,000 addresses. According to DeFiLlama, Robinhood Chain is currently holding $165.33 million in total value locked.
However, the majority of the on-chain activities on Robinhood Chain are linked to memecoins, such as CASHCAT. “Majority of DEX volume is still primarily meme coins (animal memes, Vlad and Robinhood memes, or general memes). PLEASE Robinhood DO NOT build a meme coin chain,” Ma said.
Robinhood Chain recently generated around $843,000 in fees after witnessing a growth in on-chain activity. During that same period, it paid only around $1,600 to Ethereum for data availability and settlement on the network. Some people are questioning whether the layer-2 network is adding meaningful value to Ethereum or not.
However, Robinhood is leveraging its massive user base to bring tokenized stocks directly to investors in more than 120 countries through the Robinhood Wallet.
