0xResearch Hot IPOs, Coinbase vs Robinhood, and DATs on the Decline | Livestream
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Aug 1, 2025 Daniel Shapiro from Blockworks Research joins to unpack the complexities of recent IPO mispricings and how traditional banking molds public offerings. He discusses the fierce competition between Coinbase and Robinhood, revealing their diverging strategies in adapting to new investor demographics. The conversation also touches on the financial risks of crypto treasury companies and the potential of creator coins to reshape revenue models for artists, all amidst a backdrop of dynamic market volatility.
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Mispricing Issues in IPOs
- Traditional IPOs often misprice shares, leaving billions on the table benefiting insiders rather than the company.
- On-chain IPO pricing with more participants could improve price discovery and fairness.
Crypto ICOs vs IPOs Valuation
- Crypto ICOs tend to overvalue tokens leading to immediate downturns, unlike traditional IPOs.
- Moving IPOs on-chain doesn't automatically fix valuation issues due to differing market dynamics.
Robinhood's Demographic Shift Play
- Robinhood focuses on younger generations, building a product-first financial services platform.
- They are evolving from trading to a full financial suite, capturing demographic wealth shifts.