AMC CEO Blasts Robinhood Over Unauthorized Stock Token

Robinhood’s Stock Tokens give investors blockchain-based economic exposure to securities without conferring ownership, voting rights or claims against the companies whose shares they track. The products are tokenized debt securities issued by Robinhood Assets (Jersey) Limited, rather than AMC Entertainment common stock. The structure highlights a central tension in asset tokenization: platforms can create synthetic exposure to listed companies without their participation, raising questions over disclosure, collateral, investor protections and the reach of securities regulation.

AMC Chief Executive Adam Aron said on Sept. 3, 2026, that the cinema operator had no connection to or involvement with Robinhood’s token tied to AMC shares. He said the initiative covered AMC and more than 190 other companies, called the practice unacceptable and instructed outside securities counsel to review it. Robinhood says the tokens are not registered under U.S. securities laws and cannot be offered to U.S. persons; they provide price exposure but no legal or beneficial rights in the referenced company.