Robinhood’s CEO Vlad Tenev fires back at AMC CEO in escalating fight over stock tokens

Robinhood CEO Vlad Tenev took issue with the AMC CEO on CNBC's Squawk Box Wednesday, pushing back in what has been described as an escalating fight over so‑called stock tokens. On the program, Tenev argued that public companies should not be able to exercise veto power over third‑party securities that reference their shares.

The dispute centers on stock tokens — third‑party securities that reference company shares — and whether issuers should be able to block or control those instruments. Tenev’s comments make clear he opposes giving public companies de facto authority to prevent such third parties from offering products tied to their equity.

The exchange between the leaders of a trading platform and a public company underscores a broader debate about the boundaries of corporate control over market‑referencing products. The disagreement could influence how platforms, issuers and regulators approach tokenized or derivative securities that reference listed shares.

Tenev’s remarks add another chapter to the ongoing clash with AMC’s CEO; the issue appears likely to remain a point of contention as parties and observers weigh the implications for market practices and governance.