Robinhood CEO Vlad Tenev defends 1:1 backed stock tokenization as Needham analysts signal a crypto bottom and long-term growth potential for HOOD.

The multi-year deal makes OG.com the infrastructure and clearing engine behind Robinhood's fastest-growing business.

Tenev told CNBC's "Squawk Box" on Wednesday that public companies shouldn't have veto power over third-party securities that reference their shares.