Robinhood’s Tenev warns US tokenization uncertainty deters ‘serious assets’
Summary
Robinhood CEO Vlad Tenev said uncertainty about the long-term US regulatory framework could deter investors from placing substantial assets in tokenized markets. He welcomed the SEC’s temporary innovation exemption but said legislation or further rulemaking is needed. Robinhood offers about 200 stock tokens backed by shares but structured as debt securities, without conventional shareholder rights, leaving them outside the exemption. Tenev said the company plans to launch private-company stock tokens overseas while seeking a compliant US route. Separately, Robinhood’s third-quarter crypto revenue fell 55% year over year to $120 million, and crypto trading volume dropped 38% to $50 billion.
