AMC Entertainment Holdings CEO and Chairman Adam Aron has harshly criticized Robinhood for tokenizing U.S. stocks, including AMC's.
In a social media post on Thursday, Aron stated that the tokenized versions of U.S. stocks are not registered under federal securities laws and questioned how the offering could be legal.
"I find this practice to be contemptible, outrageous, disgusting, detestable, inexcusable, vile," Aron commented. "How can it possibly be legal? We have no connection to this at all, and do not condone it in any way."
The AMC CEO added that the company will immediately have its outside securities counsel review the matter.
Meanwhile, Robinhood CEO and Chairman Vlad Tenev replied to Aron's post with a simple question: "What's the concern?" The Block has reached out to Robinhood (HOOD) for further comment.
