Robinhood Buys Into Crypto.com, Taps OG.com for Bets — SkimNews
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- Robinhood took minority equity stakes in both Crypto.com and OG.com under a multi-year deal that also names OG.com the infrastructure and clearing provider for Robinhood's Prediction Markets platform.
- OG.com, which Crypto.com spun off into a separately capitalized company now valued at $5 billion, will process and settle trades routed through its CFTC-regulated exchange, with rollout starting September 8 in phases to eligible U.S. customers.
- The equity stakes are priced in line with Citadel Securities' July investment in Crypto.com, which was the exchange's first institutional funding round and valued it at $20 billion.
- HOOD shares climbed about 3.4% in premarket trading to roughly $126, and Crypto.com's CRO token jumped more than 6% to $0.06, bouncing back from a three-year low hit a month earlier after Trump Media Group canceled separate deals with Crypto.com.
- Robinhood's event-contract revenue surged more than 10-fold year-over-year to $156 million in Q2, making prediction markets the company's fastest-growing product line while crypto trading revenue fell 38%.
- OG.com becomes Robinhood's third infrastructure supplier for event contracts alongside Kalshi and Rothera, the CFTC-licensed joint venture Robinhood runs with Susquehanna International Group.
- Crypto.com won conditional approval for a U.S. national trust bank charter in February, and both companies flagged equity-linked perpetual futures as the next step pending regulatory clearance.
- Crypto.com CEO Kris Marszalek called the tie-up a "game changer" and said he wants OG.com to become "the most liquid venue globally for innovative derivative instruments," while Robinhood VP JB Mackenzie said the deal gives Robinhood "even more skin in the game."
Why it matters: Prediction markets are now Robinhood's fastest-growing business at $156 million in Q2 revenue — up more than 10x year-over-year — and OG.com becomes its third clearing partner behind Kalshi and Rothera, removing single-vendor risk while locking in Crypto.com as its largest B2B client at a $20 billion valuation. The vertical stacking (equity in both the parent exchange and the prediction-market spin-off) deepens Crypto.com's regulated-infrastructure positioning ahead of its pending U.S. trust bank charter.
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