Robinhood and Coinbase have invested because Lighter offers a bridge between traditional brokerage services and DeFi, but institutional participation requires on-chain KYC and regulatory-friendly designs to overcome the cold-start liquidity problem.
View full episode →“Retail orders are internalised and rarely hit the exchange, giving brokers and market‑makers the profit”
“Meme‑stock rallies gave retail traders a louder voice, but institutional participants still dominate price formation”
“Institutions value retail participation because it generates fee revenue (PFOF) and keeps markets liquid”