Crypto execs warn synthetic stock tokens may not represent real shares

Executives from Intercontinental Exchange (ICE), OKX, and Securitize warned at the Consensys 2026 event that various synthetic stock tokens could harm retail investors because they are not backed by actual equity, CoinDesk reported. Securitize founder Carlos Domingo stated that offshore stock tokens sometimes use corporate names without the issuer's approval or have little to do with the actual shares. He noted, for example, that while multiple tokenized versions of Coinbase (COIN) stock exist, none of them represent actual Coinbase shares. Additionally, OKX Global Chief Marketing Officer Haider Rafique said the exchange has no plans to launch synthetic stock tokens before ensuring regulatory compliance, as it aims to offer products backed by real underlying assets. The outlet added that these warnings come amid recent controversies, such as Robinhood's (HOOD) OpenAI stock token not representing actual shares.