What’s the value of unlocking liquidity? Here’s some data for reference: Robinhood’s projected 2025 annual revenue is ~$4.5 billion, with net interest income accounting for about $1.5–1.6 billion. Gold subscription users are ~4.2 million, contributing stable recurring revenue. Total Platform Assets (AUC) are ~$324 billion. This is why Robinhood is ahead of other brokers and Coinbase—users keep their money and assets on the platform, and the platform monetizes through interest spreads, subscription fees, and trading commissions. Binance is following the same path but with a broader range of asset classes, proving the commercial value of making assets flow. Robinhood optimizes efficiency within the traditional brokerage framework, giving you one app where you can trade stocks, options, and cryptocurrencies, profiting from trading flows and interest spreads. Binance, on the other hand, builds on crypto-native collateralized lending mechanisms and integrates stock assets. Crypto assets can be collateralized, stock assets can be collateralized, and both can be combined in a single margin account for cross-asset portfolios. This level of asset efficiency is something traditional brokers can’t achieve right now. If bStocks collateralization works out—with mature collateral ratio management mechanisms, validated cross-asset clearing efficiency, and a clearer regulatory path—the potential to expand to a broader user base is even greater