[Robinhood CEO Responds to AMC Criticism: Public Companies Cannot Control Financial Products Created Around Their Stocks] BlockBeats News, September 9, according to CNBC, Robinhood CEO Vlad Tenev responded to AMC CEO Adam Aron’s criticism of the stock token business, stating that once a company goes public, its stock becomes transferable property, and other financial institutions should be able to create financial products referencing the stock without needing the issuer’s permission. Tenev explained that while public companies have the right to control the issuance of their own stock, they cannot control other companies issuing securities that reference their stock. Robinhood’s stock tokens are issued by independent entities and backed by underlying stocks, and therefore should not automatically require the consent of the public company. Tenev also acknowledged that stock token holders do not have voting rights in the underlying company. These tokens are designed as debt securities backed by the underlying stocks. As for how Robinhood will exercise the voting rights associated with the underlying stocks, Tenev stated that the company has not yet disclosed any related plans. [Original Link]