Robinhood CEO Vlad Tenev pushed again in opposition to AMC Leisure CEO Adam Aron, who final week accused the buying and selling platform of making a “faux market” for AMC shares and threatened to contain the U.S. Securities and Change Fee.
Tenev argued that when an organization’s shares are publicly traded, it can’t management each monetary product constructed round them, in an interview on CNBC’s “Squawk Field,” on Wedneasday.
“Issuers ought to have management and do have management over the rights and obligations of the inventory that they subject, however that doesn’t imply they management every thing about it,” he mentioned. “Specifically, they don’t management different firms issuing their very own securities that reference these shares.”
“Issuer consent is dependent upon what precisely you’re doing,” he added. “And within the case of Robinhood inventory tokens […] these mustn’t routinely require issuer consent.”
The interview was Tenev’s first public look because the dispute erupted final week, when Aron mentioned on X that AMC had no connection to Robinhood’s tokenized product and didn’t condone it. Aron known as the apply “contemptible” and “outrageous” and later demanded Robinhood “stop and desist” buying and selling tokens tied to AMC.
