AMC Entertainment CEO Adam Aron called on Robinhood to stop trading tokens linked to AMC shares and warned that the company could take legal action.
The outspoken chairman responded to Robinhood CEO Vlad Tenev, who questioned the concerns raised by the AMC chairman in his earlier statement criticizing the brokerage’s tokenized stock.
In his latest post, Aron said synthetic equity tokens could interfere with AMC’s capital-raising efforts, leave token holders without traditional shareholder rights and establish a parallel market operating under AMC’s name without its approval. He also raised questions about Robinhood’s use of an offshore structure and the products’ compliance with US securities regulations.
Aron further accused Robinhood of potentially undermining trust in financial markets and said AMC would ask the SEC how the products could be permitted.
He urged Robinhood to “cease and desist” from trading AMC stock tokens and said the company intends to bring its concerns to the SEC.
