Lighter’s LIT Token Falls 22% as Robinhood Plans In-App Perps

The read here is structural rather than directional: a mainstream US brokerage routing perps through its own futures commission merchant, with Bitstamp as venue, signals that regulated distribution is becoming the battleground, not order-book novelty. That reframes the competitive set for decentralized perp venues like Lighter, whose token is absorbing the repricing. The open question is whether LIT's drawdown reflects a durable rotation toward compliance-wrapped access or a sentiment overshoot, and whether other brokerages follow Robinhood into in-app derivatives.