Robinhood CEO Vlad Tenev said uncertainty over the duration of the SEC’s temporary exemption could prevent investors from committing substantial assets to tokenized markets. He argued that further regulation or legislation is needed to provide long-term certainty, while Microsoft, Alphabet and Goldman Sachs challenged the proposed listing of tokenized stocks on OKXICE. Binance Research nevertheless forecasts that the market could reach $349 billion by 2030, up from $4.43 billion on September 15. In the third quarter, Robinhood’s cryptocurrency revenue fell 55% to $120 million and crypto trading volume declined 38% to $50 billion. Total net revenue rose 12% to a record $1.42 billion, but adjusted earnings per share of $0.60 missed estimates by four cents.
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