Visa reclassified meme token purchases on Robinhood from digital goods to cryptocurrency, ending cashback rewards for these transactions. The change follows JPMorgan's flagging of merchant category misclassification used by traders to farm points on meme buys. Meanwhile, two Robinhood employees face fraud charges for trading on confidential information during 2025-2026, and Robinhood Chain activity has cooled with transaction fees down 97% and volumes declining.
X users discuss Robinhood Chain token launches and NFT partnerships on September 19, 2026, including collaborations for guaranteed allocation spots, meme coin $HACHI inspired by Hachiko launching Monday, and AI marketplace Orbio integrating with the network. Separately, Visa is closing a loophole allowing credit card rewards on memecoin purchases via Crossmint on Robinhood Wallet.
X users discuss crypto regulatory developments on Capitol Hill and memecoin trading platforms. Visa is closing a loophole allowing memecoin purchases to earn credit card rewards, while Solana-based LaunchOnSF enables users to launch coins paired with memecoins like $PEPE.