Key facts
- Ripple's national trust bank, RNTB, received final OCC approval Monday.
- RNTB will manage reserves for Ripple USD (RLUSD) and offer digital asset custody.
- Bernstein predicts Robinhood's prediction markets could generate $1.7 billion in revenue by 2028.
- Elon Musk warned over 200 AI cloud providers may fail or consolidate.
- Bitcoin miners expanding into AI infrastructure could be affected by AI cloud provider consolidation.
Ripple announced Monday that its national trust bank has secured final approval from the Office of the Comptroller of the Currency (OCC), completing the chartering process for Ripple National Trust Bank (RNTB). The federally supervised trust bank is authorized to manage reserves backing Ripple USD (RLUSD) and provide digital asset custody services. Ripple CEO Brad Garlinghouse stated on X that this signifies innovation, accountability, and federal oversight in the crypto and banking sectors.
Meanwhile, Bernstein analysts expect prediction markets to become a significant revenue driver for trading platform Robinhood Markets (HOOD), potentially surpassing its crypto-derived revenue by 2028. They forecast prediction markets could generate up to $1.7 billion in business for Robinhood by 2028, exceeding the projected $1.6 billion in crypto-based revenues. This forecast comes ahead of Robinhood's third-quarter 2026 report.
In a separate development, Elon Musk warned on X that over 200 specialist AI cloud providers could fail or consolidate as lenders tighten financing. Musk noted that companies without substantial revenue streams outside AI data centers are struggling to secure funding. This warning follows a Gartner forecast that over 80% of neocloud providers may cease operating independently by 2030. The trend could impact Bitcoin miners that have expanded into AI infrastructure, such as IREN and Core Scientific.