Robinhood CEO Says Tokenized Stock Rules Need More Certainty as Crypto Revenue Falls 55%

TLDR Robinhood CEO Vlad Tenev said uncertainty over US tokenization rules could keep investors from putting serious assets into tokenized stocks. Tenev called the SEC’s innovation exemption a positive step but said rulemaking or legislation is still needed. Robinhood’s crypto revenue fell 55% year-on-year to $120 million in the third quarter. Prediction market revenue rose sixfold to $173 million. Total net revenue hit a record $1.42 billion, but earnings missed analyst estimates. Robinhood CEO Vlad Tenev says uncertainty over US tokenization rules could stop investors from moving large amounts of money into tokenized stock markets.