Lighter crypto price drop reaches 26% as Robinhood turns to Bitstamp for U.S. perps

Lighter crypto's price dropped 26% after Robinhood confirmed it will route its new U.S. crypto perpetual-futures product through Bitstamp instead of the smaller derivatives platform it previously featured. Traders are questioning whether the drop is a repricing of expectations or signals deeper issues for Lighter as Robinhood shifts its infrastructure partner.