Robinhood CEO Responds Directly to AMC Criticism: Public Companies Cannot Control Tokenization of Their Stocks

Odaily News - Robinhood CEO Vlad Tenev directly addressed AMC's criticism in a recent interview, stating that once a public company's stock begins trading publicly, other financial institutions should have the right to issue related financial products around those stocks without needing prior permission from the stock issuer.

Vlad Tenev said that publicly traded stocks are essentially transferable property held by shareholders, and therefore other financial institutions should be able to launch financial products referencing such stocks without obtaining permission from the issuer. He specifically noted that the stock tokens offered by Robinhood are issued by independent entities and backed by the corresponding underlying stocks, so prior consent from the relevant listed companies should not be automatically required.

AMC CEO Adam Aron previously criticized Robinhood's tokenization of AMC stock, arguing that the move bypasses the issuing company and disrupts the traditional relationship between the company and its shareholders, noting that token holders do not possess voting rights in the underlying stock. As for how Robinhood intends to exercise the voting rights attached to the underlying stock, Adam Aron said the company has not yet disclosed a specific plan. (CNBC)