Vlad Tenev: Listed companies cannot control financial products created by third parties based on their stocks

Robinhood CEO Vlad Tenev responded to AMC CEO Adam Aron's criticism of the stock token business, stating that listed companies cannot control other institutions to create financial products that reference their stocks. Robinhood stock tokens are issued by independent entities and supported by underlying stocks, and do not require the consent of listed companies. Stock token holders do not enjoy voting rights in the underlying company, and the token is a debt security. Robinhood has not yet announced plans to exercise voting rights in the underlying stock. (Source: CNBC)