Robinhood
Robinhood CEO Vlad Tenev's X account hacked to promote fake token
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The X account of Robinhood CEO Vlad Tenev was compromised on Thursday and used to promote a fraudulent memecoin called Vladhood ($VLAD). The post falsely claimed the token would be listed in the Robinhood app before it was deleted.
Tokenized equities on Robinhood Chain have driven a sharp increase in real-world assets, which reached about $70 million in value after a fivefold rise in less than two weeks.
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Buyers on Robinhood Chain lost funds after purchasing tokens that disappeared from their wallets. Cross-chain protocol Relay reported the incidents on July 13 and said private keys and other balances remained untouched.
A recent report highlights intensifying competition between Robinhood and Coinbase as the boundaries between stock trading and cryptocurrency blur. Robinhood's stock surged 186% in 2025, while Coinbase's fell 12%, despite a supportive political environment for crypto. Both firms are expanding into each other's domains and vying for dominance in prediction markets.
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Robinhood has deployed 80 new stock tokens on the Arbitrum blockchain, bringing its total tokenized assets to almost 500 for EU customers. These tokens, worth over $8.5 million, allow European users to invest in US securities starting from 1 euro. The initiative is part of a broader strategy amid regulatory scrutiny.