AMC CEO Criticizes Robinhood Over Tokenized Stocks as 'MEME' Token Gains Traction

AMC Theatres CEO Adam Aron publicly condemned Robinhood for issuing unauthorized tokenized versions of AMC stock, labeling the practice as despicable and unethical. Robinhood CEO Vlad Tenev dismissed the concerns. Meanwhile, a meme coin named MEME launched on the Robinhood Chain, pairing with the tokenized AMC stock and reaching a market capitalization of over $100 million within 24 hours. Robinhood maintains that its stock tokens are derivative contracts providing economic exposure without granting shareholder rights or ownership.