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Door Remote - 27 Oct 2026
Today in crypto, Ripple secured final US regulatory approval to establish a national trust bank, Bernstein analysts forecast Robinhood’s prediction market revenue could surpass its crypto revenue by 2028 and Elon Musk warned that more than 200 AI cloud providers face failure or consolidation as financing tightens, potentially affecting Bitcoin miners expanding into AI infrastructure.
Ripple wins final US approval for national trust bankRipple announced Monday that its national trust bank has secured final approval from the Office of the Comptroller of the Currency (OCC).
The approval completes the chartering process for Ripple National Trust Bank (RNTB), which received conditional approval from the OCC in December 2025.
The federally supervised trust bank is authorized to manage reserves backing Ripple USD (RLUSD), act as collateral trustee for the benefit of RLUSD holders and provide digital asset custody services, according to Ripple.
RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s limited purpose trust company regulated by the New York Department of Financial Services.
“We’ve always said crypto and banks work better together — this is what that looks like. Real innovation, real accountability, federal oversight,” Ripple CEO Brad Garlinghouse said on X on Monday.
HOOD’s prediction markets to exceed crypto by 2028: BernsteinBernstein analysts expect prediction markets to become one of the incremental earnings drivers for trading platform Robinhood Markets (HOOD), potentially surpassing its crypto-derived revenue.
Prediction markets could drive up to $1.7 billion in business for Robinhood by 2028, surpassing the projected $1.6 billion in crypto-based revenues for that year, according to a Bernstein analysts’ forecast shared with Cointelegraph on Monday.
The analysts expects Robinhood’s prediction market revenue to increase to $1.7 billion in 2028 from about $650 million this year, accounting for roughly 18% of Robinhood’s projected $9.4 billion in total 2028 revenue.
The forecast comes a day ahead of Robinhood’s third-quarter 2026 report and shows that prediction markets are becoming a growing revenue source for the retail-focused trading platform.
Bernstein expects Robinhood’s Q3 revenue to increase 13% quarter-over-quarter to around $1.5 billion, driven by growing equity notional volumes, options volumes, event contract volumes, along with a recovery in crypto trading volume.
Musk warns over 200 AI neoclouds face ‘guppy-level death’Elon Musk warns that over 200 specialist AI cloud providers could fail or consolidate as lenders tighten up their purse strings.
Musk said Sunday on X that lenders had largely stopped providing financing to companies without substantial revenue streams outside AI data centers. He said SpaceX had secured $40 billion in debt financing for GPUs because of its investment-grade status and revenue from its Starlink satellite internet and rocket businesses.
“That means the 200+ neoclouds are going to see guppy-level death and consolidation. Some will make it through, but not many,” he said.
Musk’s warning follows an October forecast from research firm Gartner that more than 80% of neocloud providers will cease operating independently by 2030, as the industry struggles to generate sufficient returns on massive AI infrastructure investments.
The warnings could also have implications for Bitcoin miners that have pivoted into AI infrastructure. For example, IREN has expanded into AI cloud services, renting computing power to customers, while Core Scientific provides data center hosting for neocloud customers such as CoreWeave.
Ripple wins final US approval for national trust bankRipple announced Monday that its national trust bank has secured final approval from the Office of the Comptroller of the Currency (OCC).
The approval completes the chartering process for Ripple National Trust Bank (RNTB), which received conditional approval from the OCC in December 2025.
The federally supervised trust bank is authorized to manage reserves backing Ripple USD (RLUSD), act as collateral trustee for the benefit of RLUSD holders and provide digital asset custody services, according to Ripple.
RLUSD will continue to be issued by Standard Custody & Trust Company, Ripple’s limited purpose trust company regulated by the New York Department of Financial Services.
“We’ve always said crypto and banks work better together — this is what that looks like. Real innovation, real accountability, federal oversight,” Ripple CEO Brad Garlinghouse said on X on Monday.
HOOD’s prediction markets to exceed crypto by 2028: BernsteinBernstein analysts expect prediction markets to become one of the incremental earnings drivers for trading platform Robinhood Markets (HOOD), potentially surpassing its crypto-derived revenue.
Prediction markets could drive up to $1.7 billion in business for Robinhood by 2028, surpassing the projected $1.6 billion in crypto-based revenues for that year, according to a Bernstein analysts’ forecast shared with Cointelegraph on Monday.
The analysts expects Robinhood’s prediction market revenue to increase to $1.7 billion in 2028 from about $650 million this year, accounting for roughly 18% of Robinhood’s projected $9.4 billion in total 2028 revenue.
The forecast comes a day ahead of Robinhood’s third-quarter 2026 report and shows that prediction markets are becoming a growing revenue source for the retail-focused trading platform.
Bernstein expects Robinhood’s Q3 revenue to increase 13% quarter-over-quarter to around $1.5 billion, driven by growing equity notional volumes, options volumes, event contract volumes, along with a recovery in crypto trading volume.
Musk warns over 200 AI neoclouds face ‘guppy-level death’Elon Musk warns that over 200 specialist AI cloud providers could fail or consolidate as lenders tighten up their purse strings.
Musk said Sunday on X that lenders had largely stopped providing financing to companies without substantial revenue streams outside AI data centers. He said SpaceX had secured $40 billion in debt financing for GPUs because of its investment-grade status and revenue from its Starlink satellite internet and rocket businesses.
“That means the 200+ neoclouds are going to see guppy-level death and consolidation. Some will make it through, but not many,” he said.
Musk’s warning follows an October forecast from research firm Gartner that more than 80% of neocloud providers will cease operating independently by 2030, as the industry struggles to generate sufficient returns on massive AI infrastructure investments.
The warnings could also have implications for Bitcoin miners that have pivoted into AI infrastructure. For example, IREN has expanded into AI cloud services, renting computing power to customers, while Core Scientific provides data center hosting for neocloud customers such as CoreWeave.