AMC CEO Adam Aron hits out at Robinhood over tokenized AMC shares

AMC Entertainment CEO Adam Aron has rejected Robinhood’s tokenized product linked to AMC shares and said the theater chain will seek legal advice over an offering created without the company’s involvement. Summary AMC CEO Adam Aron said the theater chain has no connection to Robinhood’s tokenized product tracking AMC shares and does not condone it. Aron called the practice “contemptible” and “outrageous” and said AMC will ask outside securities counsel to examine the matter. Robinhood’s stock tokens provide economic exposure to underlying equities but do not give holders ownership or shareholder rights in the companies they track. OpenAI previously rejected Robinhood tokens linked to the private company, saying they were not OpenAI equity and had not been endorsed by the firm. According to Aron, AMC has no connection to Robinhood’s effort involving tokenized real-world assets and Stock Tokens, despite a product carrying the company’s name and tracking its publicly traded shares. “Robinhood apparently is behind an effort related to ‘tokenized real-world assets including Stock Tokens’ for AMC Entertainment,” Aron wrote on X on Thursday. “We have no connection to this at all, and do n...