According to CoinMeta, Backpack CEO Armani Ferrante responded to the criticisms of AMC CEO regarding the tokenization of Robinhood's stocks by stating that Robinhood's stock tokens are considered debt securities. The $1 invested by users ends up in the real stock market, but less than $1 actually goes towards the stocks themselves. He pointed out that proper tokenization should achieve a 1:1 ratio with underlying stocks, be directly linked to real market transactions, and grant users full shareholder rights in order to attract more international capital. At the same time, he affirmed that Robinhood Chain is one of the most exciting ecosystems in the crypto industry recently, and called on the industry to improve tokenization practices through continuous iteration.