Unchained

DEX in the City: Why Everyone Is Overreacting About the Terra v. Jane Street Lawsuit

9 snips
Feb 27, 2026
Coy Garrison, Robinhood’s deputy general counsel with SEC experience, and Seong Seog Lee, Head of Product and former quant, discuss Robinhood Chain’s testnet launch and why tokenized equities are core. They cover legal and product tradeoffs, why a testnet is essential, developer adoption, and the Terraform v. Jane Street lawsuit controversy.
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ADVICE

Use Testnet To Spot Legal And Product Risks

  • Use a public testnet to learn operational risks and developer behaviors before mainnet launch.
  • Coy Garrison explained Testnet helps legal teams see how builders use the chain so they can mitigate regulatory and operational exposures.
INSIGHT

Government Experience Improves Regulatory Strategy

  • Former SEC experience helps private-sector product and regulatory strategy by revealing how agencies form enforcement theories.
  • Coy Garrison described pushing enforcement teams to articulate legal bases while at Commissioner Peirce's office.
ADVICE

Make Legal A Design Partner For Product Teams

  • Treat legal and compliance as design partners, not checkboxes, and onboard PMs with a playbook for those conversations.
  • Seong Seog Lee said Robinhood gives new PMs guidance on framing context and aligning on business goals with legal.
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