Ran Neuner, founder and CEO of Crypto Banter, expects crypto exchanges to lose their traders to apps built around seeing and following other people’s trades.
“I believe that crypto exchanges are going to be replaced by social trading apps,” Neuner said on the show. He named Binance as one exchange he expects to be replaced. He pointed to FOMO, an app that lets users follow other traders and get alerts on what they buy, as the model.
Neuner said he was not predicting that FOMO itself would take Binance’s place. He said there is “going to be a version of FOMO that’s gonna be so powerful,” one that combines a social network with trading, and that it will be “much more fun than trading on an exchange.”
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Why He Says It Happens Now
Neuner said brokers such as Robinhood and eToro have tried social trading for years. He said they were held back by Nasdaq trading hours and know-your-customer rules, and that tokenized stocks remove the trading-hours limit: “Now you can tokenize any stock that you want. It trades 24/7, 365.”
On Sept. 17, the SEC granted a five-year innovation exemption for onchain trading of tokenized shares that carry full shareholder rights, but not synthetic stock tokens.
The Revenue He Pointed To
Neuner said crypto apps, led by social trading apps, are already making money, the first of two reasons he gave for calling this crypto’s first real bull market. The second was AI agents transacting on blockchain rails. He said Hyperliquid and Pump.fun earn as much as $5 million on some days, and FOMO about $1 million a day.
According to DefiLlama, all three averaged more than $1 million a day in revenue over the 30 days through Sept. 27. Hyperliquid brought in about $55.2 million, FOMO about $32.7 million and Pump.fun about $32.4 million.
Room for Privacy
Host Laura Shin asked how social trading fits with the rally in privacy coins, and returned to the question near the end of the interview. Neuner said then that traders will show some positions and keep others private. “I think you’re also gonna have some money that you show and some money that you don’t show,” he said.
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