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A follow is not a listing

Robinhood Chain Memecoins: CASHCAT's 1,700% Day, the $INDEX Rally — and What a Vlad Tenev Follow Signals (2026)

RaymondRates.my5 min read

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A cat token rose 1,700% in a day partly because one man followed it on X. Three weeks earlier, that same X account was hacked to sell a fake coin. That is Robinhood Chain this summer — and its CEO has just stood beside the US president.

+1,700%
CASHCAT's best 24 hours
to ~US$120m market cap
US$774m
Robinhood Chain TVL
CoinDesk, 5 Aug
~US$10m
Taken via his hacked account
fake $VLAD token, 23 Jul

The stock chain the memes took over

Robinhood Chain, in five numbersCASHCAT, best 24 hours+1,700%to ~US$120m market cap$INDEX, best 24 hours+157%since given back ~41% from highsChain value locked (TVL)US$774mCoinDesk, 5 AugWeekly DEX volume>US$3breportedHOOD stock since 3 Jul−11.9%the frenzy skipped the shareholdersPeaks as reported by KuCoin, CoinDesk and tracker data; HOOD from Yahoo Finance closes, computed 25 Aug 2026.
Built to tokenise stocks. Colonised by a cat. And the one number that did not join the party is the company's own shares.
  • The chain was built for tokenised stocks. Real-world assets are the stated purpose — it has no token of its own, so memecoins became the speculation layer.
  • $INDEX is the more serious of the pair. It routes trading fees into tokenised-stock rewards — then still gave back ~41% from its highs.

One account, one messy summer

One CEO account, one messy summer — every date as reportedMemecoin crowd is“missing the point”3 JulFortune: CASHCAT is aUS$150m token13 JulX account HACKED —fake $VLAD, ~US$10m23 Jul“Great for memes too”+ follows CASHCATearly AugChain TVL hitsUS$774m5 AugAt the White Housebeside Trump19 AugDates per The Block, CoinDesk, Fortune, cryptobriefing and White House coverage. “Early Aug” because no source pins the follow to a day.
From 'missing the point' to following the cat, with a US$10m hack in between — in seven weeks.
  • The reversal was total. On 3 July the memecoin crowd was “missing the point”. By August the chain was “great for memes too” — and he followed CASHCAT.
  • A follow moved real money. CASHCAT has ~41,200 holders; its largest single holder is the Uniswap pool itself, at 2.47%.
  • The signal has been forged once already. The 23 July hack posted a fake token from his own account — ~US$10m gone before deletion.
A cat staring directly into the camera
CASHCAT's imagery comes from Robinhood's own pre-rebrand cash-cat branding — the company did not create the token. · Photo: Unsplash

Then he stood next to Trump

  • 19 August, the White House. Tenev spoke beside Trump at the crypto summit — the same event where Trump named Hyperliquid.
  • The ask was the Clarity Act. Trump pushed Congress to pass it — the bill deciding which tokens count as securities, and who regulates them.
What a CEO follow is — and is not. A follow is not a listing, not an audit, and not an endorsement with anyone’s name on it. The hacked post from the same account falsely claimed a Robinhood app listing for its fake token — that claim moved money precisely because people treat the account as a signal. Liquidity that arrives on a follow can leave on an unfollow.

If you are in Malaysia

  • None of this is SC-registered. Legal digital-asset trading here means Luno, Tokenize, MX Global or SINEGY — chain memecoins sit fully outside that protection.
  • Thin pools punish exits. CASHCAT trades mainly through one pool on one DEX — the price you see is not the price you get out at.

What to watch

  • CongressThe Clarity Act. If it passes, the securities/commodities line for tokens like these finally gets drawn.
  • The appWhether Robinhood ever lists chain memecoins in-app. So far the only such “listing” claim came from the hack.
  • Your sideLive prices on our crypto tracker— and treat any “CEO followed X” screenshot as unverified until it isn’t.
Not financial advice. Figures are as reported by the cited outlets as at 25 August 2026; memecoin prices move violently and differ across venues, and reported peaks may already be stale. Rates.my holds no CMSA licence, issues no price targets, and nothing here is a recommendation to buy any token — least of all one whose main catalyst is a social-media follow.

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