Robinhood CEO Vlad Tenev defended the company’s recent tokenized OpenAI stock launch—a controversial move criticized by OpenAI, which did not authorize the initiative. Despite the backlash, Tenev described the experiment as a significant milestone, emphasizing the importance of innovation in finance. The tokenized stocks, launched on Ethereum’s Arbitrum network, enabled holders to track OpenAI’s perceived value but did not grant equity or voting rights. Tenev is optimistic about expanding this initiative to include more private companies and integrating it with decentralized finance (DeFi) markets. However, the U.S. SEC issued a cautionary statement regarding compliance with securities laws, reminding participants that tokenized securities still fall under existing regulations. Tenev downplayed the SEC’s warning, viewing it as a broader message about safe tokenization rather than a specific critique of Robinhood. The company aims to enhance customer access to innovative financial products while navigating regulatory landscapes.
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