Robinhood CEO says tokenized stocks could prevent another GameStop freeze

Vlad Tenev blamed the trading halt on its app in 2021 on bad infrastructure, a problem that he says tokenization would solve. What to know : Robinhood CEO Vlad Tenev says the 2021 GameStop trading halt was caused by slow, collateral-intensive settlement infrastructure, rather than bad actors. Tenev argues that even the shift from T+2 to T+1 settlement is insufficient in a 24/7 news-and-trading environment, especially for trades executed on Fridays. He is pushing to move stocks onto blockchains for real-time settlement, expand Robinhood’s tokenized stock offerings and 24/7 DeFi-style trading, and urge Congress to pass the CLARITY Act to force the SEC to issue rules on tokenized equities.