AMC CEO Slams Robinhood Over Tokenized Stock Offering
AMC Entertainment CEO Adam Aron has publicly criticized Robinhood's ERC-20 AMC tokenized stock, stating that the firm operates offshore to avoid US securities laws. In a recent post on X, Aron compared Robinhood's token with his company's past equity issuance, which he said was vital to their success and balance sheet strengthening. According to Aron, the product from Robinhood is a fictitious synthetic equity that decouples stock token ownership from actual shares.
Rohan Oza, CEO of Robinhood, defended the offering as compliant with regulations. The dispute has fueled speculative crypto activity, with an unrelated meme coin, MEME, surging about 3,100X. This development underscores regulatory risk for tokenized stocks even as crypto and DeFi adoption persist.