a day ago
Robinhood's Private Stock Tokens Lure Investors, Draw Scrutiny
Robinhood Markets Inc. started offering 'tokenized' equities – cryptocurrency's version of company shares – on Monday, June 30, hoping to usher in a new, 24-7 era of blockchain-based stock trading in Europe that would, eventually, migrate to the US.
The blowback has been swift. Two days after the debut, which was accompanied by a $1 million giveaway of OpenAI tokens, that company warned Robinhood customers off the securities. Shortly after, the Bank of Lithuania, Robinhood's primary regulator in the EU, sent questions to the brokerage.
