AMC CEO Accuses Robinhood of Illegal Tokenized Stocks, Tenev Fires Back
HOOD sits 92% above its 52-week low of $63.515.
Summary
AMC CEO Adam Aron publicly accused Robinhood of issuing unregistered stock-tracking tokens through a Jersey subsidiary, calling the practice 'contemptible' and questioning its legality. Robinhood CEO Vlad Tenev responded with a broad defense of tokenization, arguing it brings US capital markets to global investors and is 'worth fighting for.' The dispute has drawn in industry figures like Ross Gerber, who called the tokens 'fake securities' and a potential Ponzi scheme, and Securitize CEO Carlos Domingo, who noted an AMC-linked token trading at 60x the actual share price due to thin liquidity. This is a direct legal and reputational challenge to Robinhood's tokenization strategy, which is a key growth initiative following its recent Robinhood Chain launch and international expansion. The outcome could affect Robinhood's ability to offer tokenized stocks and may invite regulatory scrutiny.
At the time of this announcement, HOOD was trading at $122.12 on NASDAQ in the Finance sector, with a market capitalization of approximately $109.8B. The 52-week trading range was $63.52 to $153.86. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.