Robinhood Chain posts big week-one numbers — and its first scam-token warnings

Robinhood's general manager of crypto, Johann Kerbrat, marked the first full week of Robinhood Chain on July 9 with a set of headline metrics: more than 17 million transactions, nearly 350,000 total addresses, nearly $250 million in protocol total value locked (TVL), and over $1 billion in cumulative DEX volume. The post was reshared by the Ethereum Foundation's account. "We're just getting started," Kerbrat wrote.

Every one of those figures comes from Robinhood itself, promoting its own network — not from an independent audit. A separately circulated Dune dashboard attributed to Entropy Advisors, cited in the reply thread earlier the same day, put DEX volume at "exceeded $560M" and tokenized-stock value at roughly $12 million across tickers including NVDA, AMD and TSLA. The gap between that $560M snapshot and Kerbrat's later "$1B+" is partly timing, but the two figures aren't reconcilable from the figures disclosed, so treat the range as approximate and source-dependent.

Alongside the growth, the network's infrastructure partner Relay Protocol posted a warning the same day: it was "aware of reports of tokens disappearing from wallets after purchase on Robinhood Chain," attributing it to scam tokens "designed to remove themselves after purchase." Relay said affected buyers' spent funds are "unfortunately gone," stressed it was not a wallet compromise, and reminded users that "anyone can list a token."

Key facts

• 17M+ transactions, ~350k addresses, ~$250M TVL, $1B+ DEX volume — Johann Kerbrat, Robinhood GM of crypto, July 9 (company self-reported).
• DEX volume "exceeded $560M"; tokenized stocks ~$12M (NVDA, AMD, TSLA) — Dune/Entropy Advisors dashboard, cited in-thread July 9, 3:34pm UTC.
• Scam tokens self-deleting after purchase; funds unrecoverable; "anyone can list a token" — Relay Protocol, July 9.
• Bankr: $12.45M volume, $130,634 paid to builders in <72h — Bankr's own post, July 8 (interested party).

The real-world read

The numbers doing the promotional work all originate with Robinhood or projects building on the chain — Kerbrat is the company's crypto GM, not a neutral observer, and at least one reply publicly doubted the 350k-address figure. The same feature being sold as growth — permissionless listing, a builder-fee model — is what Relay's warning flags as the risk: on a chain where anyone can list a token, some are engineered to vanish and take buyers' money. Note also the paid promotion in the thread: one poster disclosed receiving ringfenced $WEN tokens to boost a project, and a prominent account pitched the chain as "the closest to early Solana vibes" — marketing framing, not reporting, and discounted accordingly. Conspicuously unaddressed by Robinhood's post: whether the chain will have a native token, and how the scam-token problem gets fixed rather than blocked case-by-case.

Opinion, and whose

Kerbrat frames the week as momentum ("just getting started"). Trader @theunipcs compared it to early Solana and said he intends to be "fully locked in" — a self-described speculator's take, not analysis. Critic @martypartymusic called private institutional chains "trojan horses." All are opinion, attributed.

Sources

• Johann Kerbrat / Robinhood, via @ethereum (Nitter), July 9 — the week-one metrics; company self-reported marketing, treated as such.
• Relay Protocol (in-thread), July 9 — scam-token warning; primary statement from the chain's infrastructure partner.
• Dune / Entropy Advisors dashboard (cited in-thread) — independent-ish on-chain volume and tokenized-stock figures.
• Bankr, @AgilePeter ($WEN), @theunipcs (in-thread) — interested-party and disclosed-promotional posts; not treated as news.

This is news coverage, not financial advice; nothing here is a recommendation to buy or sell anything.