AMC CEO Calls Robinhood Stock Tokens 'Contemptible' and 'Vile'
Summary
AMC CEO Adam Aron criticized Robinhood for issuing “Stock Tokens” tied to AMC’s share price without AMC’s involvement, calling the practice illegal and “contemptible” and saying AMC has no connection to or approval of it. Robinhood says the tokens are tokenized debt securities issued by its Jersey subsidiary, giving only economic exposure to a stock price and no ownership, voting, or claim on the underlying company. The tokens are not registered in the U.S. and cannot be offered to U.S. persons, with additional restrictions in several countries. Similar token launches tied to OpenAI and SpaceX previously drew objections from those companies, while regulators and AI firms warned that such products do not grant real equity rights.
