Robinhood Ceo's Account Posts a Fake Meme-coin Ad

Dow Jones07-24

An unauthorized user accessed Robinhood chief executive Vlad Tenev's account on X this afternoon and made a post advertising a meme coin.

The post, which went live early Thursday afternoon, announced the launch of the meme coin $VLAD. The chief executive's profile picture was also changed to a doctored image of Tenev wearing a feathered cap, a la the brokerage's namesake.

"Ahead of earnings, we've seen a lot of people asking... Does Robinhood love memes?" the post read. "The answer is yes."

The post, which received more than 300,000 views, was later removed. Robinhood posted on an official account to clarify that Tenev's "X account was compromised and posted a fake promotion for a meme coin." The $VLAD meme coin isn't associated with Tenev or Robinhood.

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