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Tay 💖🗡
@tayvano_
maybe I missed it but is no one talking about the fact that robinhoods no-fee web3 wallet is going to match their no-fee stock trading app and sell their users order flow to market makers who profit from frontrunning etc those orders??
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Tay 💖🗡
@tayvano_
more intriguing is that robinhoods entry into non-custodial crypto-land was met by SBF & FTX & Co taking a nearly 8% stake in Robinhood AND announcing their own entry into no-fee retail tradfi-land. in the latter, they emphasized that they would not be taking the PFOF route. 🤔
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Brett Harrison
@BrettHarrison88
2/ Brokerage services are offered by our broker dealer, FTX Capital Markets. We’ve chosen to route customer orders directly to Nasdaq’s order router instead of routing to market makers and receiving payment for order flow.
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Tay 💖🗡
@tayvano_
which obviously begs the question: how tf is FTX going to make money if no commission and no PFOF? it could be they are looking at this part of their business as simply user acquisition—pay a little to convert non-crypto traders into crypto traders (where ftx will make a lot.)
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Annode.eth
@a_enderly
Replying to
@SBF_FTX
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@tayvano_
Still don’t understand why people get their knickers in a twist over this sort of arrangement. You have the ability to enter a limit order, which allows you to set the price you’re comfortable paying - which is better than what some exchanges allow.