{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"A high-frequency trading expert explains why you shouldn't fear how Robinhood makes money","html":"","width":"100%","height":180,"duration":2950,"description":"Before Tarun Chitra built out his company, he spent years doing quantitative research and development for places like D.E. Shaw Research and Vatic Labs. Chitra took his experience in machine learning to create and head a simulation platform for crypto networks — Gauntlet — which garnered backing from companies like Coinbase, Distributed Global and Polychain, among others.\nGauntlet provides tools for crypto developers to forecast security risks, possible governance snags and consensus mechanism issues. By forecasting such problems and showing how they could affect assets or network activity, developers can make more informed decisions about security and governance structures.\nIn this week's episode of The Scoop, Chitra spoke from his experience in the high-frequency trading (HFT) world. Chitra's appearance coincided with growing concerns surrounding the market activity driven by Robinhood traders, as users of the app continue to buy up stocks that other investors have dumped.\nMuch of the conversation also coincides with the conversation surrounding brokerage and payment for order flow (PFOF), as some critics object to selling order flow to market makers, claiming it creates a conflict of interest. The Block recently uncovered how Robinhood received more than $90 million in PFOF payments during Q1. Chitra discussed the HFT world's view on PFOF and broke down some of the nuance in the transactions on this week's episode.\nChitra also touched on:\n\nWhy private exchange trade funds aren't that private\n\nWhether open finance has structural advantages in comparison to legacy market structure \n\nIf those possible advantages are enough to drive volumes in the same league as traditional markets\n\nThe role of transparency in both the Open Finance and traditional finance ecosystems.\n\n\nThis episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}