Robinhood defends stock tokens amid EU probe, says more firms want in

Key Points

1. Robinhood's CEO addressed the Central Bank of Lithuania's probe into the structure and marketing of its blockchain-based investment products.

2. The CEO expressed confidence that the products will hold up under regulatory review and emphasized their importance.

3. The products offer EU-based users exposure to shares of private companies like OpenAI and SpaceX, though they faced criticism after OpenAI's equity offer.

4. Despite pushback, the CEO noted increasing interest in the model, with many inquiries from private companies.

5. The products are considered derivatives under the EU MiCA framework but may qualify as tokens globally in the future.