Morning Minute: Tokenized Stock Battle Looms Over Robinhood’s Earnings Call
Summary
A conservative nonprofit placed a Wall Street Journal ad warning public-company CEOs about risks from tokenized shares and urging them to opt out. Objections to tokenizing shares on the OKX-ICE venue rose from nine companies to 22 in eight days, including major firms; none accepted a rule change allowing issuers to tokenize their own stock. The dispute matters to Robinhood, which built an ecosystem around stock tokens. Its chain reportedly generated about $51 million in revenue and processed $65 billion in DEX volume in its debut quarter, including $13.7 billion in tokenized equities. Robinhood’s third-quarter results are due, and CEO Vlad Tenev may address the backlash.
