AMC CEO Slams Robinhood Again: Stock Tokens Deviate from the Concept of Stock Ownership

BlockBeats news, September 13 - AMC CEO Adam Aron once again criticized Robinhood's stock token business in a post. In response to Robinhood CEO Vlad Tenev and Dan Gallagher publicly defending stock tokens over the past week, Aron called the practice "repugnant," saying it deviates from the basic concept of stock ownership and turns investing into a gamified, commercially driven casino.

Aron questioned why Robinhood, while admitting it cannot offer or sell stock tokens to "U.S. persons," still heavily promotes related products on its U.S. official website; at the same time, whether Robinhood's conduct of stock token services through its offshore Jersey operation is intended to operate outside the scope of U.S. securities laws.

He also questioned that buyers of stock tokens receive fewer rights than actual shareholders, which may cause investor confusion; and if the real shares backing the assets are lent out to short sellers, whether the related tokens can still be regarded as truly 1:1 backed. Aron described stock tokens as "unregulated, derivative, synthetic, or debt-backed securities," saying they merely simulate real stocks.