FaZe Banks says FOMO has an unfair edge over TradFi apps like Robinhood because onchain social trading skips the regulatory red tape: "Do you think Robinhood ever throws their hat in the ring in a very aggressive way on the social trading shit?" "I think so actually... I think they actually have a Robinhood social." "Whereas like fomo reads like a social media platform, the emphasis is on that, whereas Robinhood is more institutional, TradFi, KYC." "The fomo founder said when we had him on, on-chain has such an advantage with social trading because when it's not on-chain, you have to get people to opt in and share all the regulatory stuff. On-chain is very immediate, you don't need to do the KYC stuff, you can just share your positions, it happens in real time. That's why fomo and some others have an advantage on the social side of things." "I feel like the big winner in social trading is going to have to hard commit to that's going to have to be the product. They're making so much money at the infra layer, do they really need to go as hard on the app layer too? They already have the app layer on the TradFi side, that's what I mean."