Johann Kerbrat, Robinhood’s international and crypto general manager, said Hyperliquid differs because Robinhood runs a regulated business while Hyperliquid is decentralized.
Johann Kerbrat, international and crypto general manager at Robinhood, said Robinhood views Hyperliquid as a different type of business. His comment drew a distinction between Robinhood’s regulated model and Hyperliquid’s decentralized structure. The statement highlights a core divide in crypto markets between centralized, regulated platforms and decentralized trading venues, which typically operate through blockchain-based systems and smart contracts (self-executing blockchain code) rather than a traditional broker framework.