AMC chief criticizes Robinhood’s tokenized stock plan
AMC’s CEO criticized Robinhood’s tokenized stock offerings for being unregulated in the US and said he will request an investigation from an external securities counsel.
Adam Aron, the CEO of AMC Entertainment Holdings, criticized Robinhood’s tokenized stock offerings that provide economic exposure to AMC shares, stating the company has no affiliation and that it will have a securities counsel investigate the matter.
Robinhood’s stock tokens are not registered under US securities laws and are an “outrageous” offering with no affiliation to AMC, Aron wrote in a Friday X post, adding that the company will request an investigation from its outside securities counsel.
Aron added that these stocks may not be offered to US investors and that they are subject to restrictions in several other jurisdictions, including Canada, Switzerland and the UK.