Wu Blockchain (@WuBlockchain): AMC CEO Urges Robinhood to Halt AMC Stock Token Trading, Questions Legality
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AMC CEO Urges Robinhood to Halt AMC Stock Token Trading, Questions Legality AMC Entertainment CEO Adam Aron criticized Robinhood’s AMC Stock Token, saying AMC has no connection to, authorization of, or endorsement of the product. He described the practice as “contemptible, outrageous, disgusting, inexcusable,” noted that the tokens are not registered under U.S. securities laws, and said outside securities counsel is reviewing the matter. Robinhood CEO Vlad Tenev replied: “What’s the concern?” Robinhood documents show Stock Tokens are tokenized debt securities issued by its Jersey entity, providing economic exposure to underlying shares without conferring actual ownership rights. Meanwhile, Robinhood Chain meme token MEME, paired with tokenized AMC in its liquidity pool, surged to a market cap of about $125.6 million, briefly peaking near $151.2 million.