Robinhood CEO claims public firms cannot block tokenized derivatives without consent
Vlad Tenev defended Robinhood's tokenization strategy during an escalating dispute with AMC Entertainment, arguing that issuers lack control over third-party financial products once shares are publicly traded.
Robinhood CEO Vlad Tenev argued on Wednesday that public companies cannot restrict the creation of tokenized securities referencing their shares. Speaking at CNBC's Squawk Box, Tenev stated that once a company becomes publicly traded, shareholders hold transferable property rights. He asserted that financial institutions should be permitted to build products backing these shares without explicit permission from the original issuer. While AMC Entertainment recently criticized Robinhood's tokenization initiatives, Tenev maintained that issuer consent is not automatic in this context. He clarified that although companies control the rights and obligations of stock they issue, they do not control other entities issuing separate securities referencing those shares. The CEO described his approach as technology-neutral financial wrappers for publicly traded stocks rather than outright ownership of assets.
