Odaily Planet Daily reports: In response to today’s controversy surrounding AMC’s CEO questioning Robinhood on stock tokenization, Backpack CEO Armani Ferrante posted on X, stating that he is a tokenization maximalist but agrees that Aron’s core concerns are substantively valid: Robinhood’s Stock Tokens are debt securities, not fully backed 100% by underlying stocks; funds used to purchase these tokens do not fully flow into the actual stock market, but instead are partially held as cash or qualified financial instruments as collateral through an authorized participant redemption mechanism, causing value leakage to intermediaries and potentially leading to discrepancies between on-chain prices and the underlying stock prices. As originally stated: “For every dollar users spend buying Robinhood’s stock tokens, less than a dollar flows into the actual stock market.”
It also noted that proper tokenization should strictly align with the stock market, achieving 1:1 stock backing, direct linkage to real-market trading, and granting users full shareholder rights, thereby attracting more international capital to publicly traded companies. He also affirmed that Robinhood Chain is one of the most exciting ecosystems in the recent crypto space and called on the industry to refine tokenization effectively through iteration.