AMC Coin Stock Meme Coin Surges $150 Million in 5 Hours, AMC CEO Urgently Halts Trading, Threatens to Sue Robinhood to SEC

BlockBeats News, September 4th - Today, the meme project MEME, listed on the Robinhood Chain, suddenly became the market focus. The project, whose full name is "A Meme Coin," has the perfect abbreviation, AMC, and uses the "MEME/AMC" trading pair, placing the Meme coin and AMC Entertainment's stock token in the same on-chain liquidity pool.

According to GMGN data, after its listing, MEME experienced a rapid increase of over a thousand times in a short period, with a market capitalization exceeding $1.5 billion at one point. At the same time, AMC's original stock was also driven up, rising 21% in overnight and pre-market trading to a price of around $3. The day before, AMC's closing price was $2.54, and the company did not release any significant fundamental news that day.

AMC CEO Adam Aron subsequently publicly criticized Robinhood on X. He stated that AMC was not involved, did not authorize, and did not endorse this type of token product linked to AMC stock, questioning its legality. Aron also said the company would hire external securities lawyers to review the matter and might submit an inquiry to the SEC. Robinhood CEO Vlad Tenev responded on X, saying, "What's the concern?" This further heightened market discussion.

BlockBeats has comprehensively reviewed and replayed the event in an on-site article titled "$150 Million Emotional Expressway, AMC Shortsqueeze After 5 Years."