Nansen CEO: If Robinhood issues a token, it could weaken its stock value; L2 strategy focuses on technology

Odaily Planet Daily News: In a recent interview, Alex Svanevik, CEO of blockchain data analytics firm Nansen, stated that Robinhood is unlikely to launch a token, as it could compete with its publicly listed stock, HOOD. Previously, the market speculated that Robinhood might follow the example of certain crypto projects and introduce an ecosystem token, but for now, the company is more likely to utilize blockchain as an underlying technological tool rather than building its business model around a token.

Alex Svanevik pointed out that Robinhood's current Layer 2 network already operates on the Ethereum ecosystem and has a Gas token for paying network fees, so there is no need to issue an additional platform token. The core purpose of Robinhood's blockchain infrastructure deployment is to leverage blockchain technology to enhance product capabilities, rather than raising funds or constructing a new economic model through token issuance. (Cointelegraph)