Robinhood's crypto lead Johann Kerbrat stated: Robinhood ultimately chose to build an L2 within the Ethereum ecosystem instead of creating an independent L1, mainly due to 'focus.' By building on Ethereum L1, Robinhood can directly leverage Ethereum's decentralization features, security, and the massive liquidity within the EVM ecosystem. This allows them to concentrate on developing the most core functionality: the stock tokenization market. Robinhood's choice will also impact other players.