Adam Aron, CEO of AMC Entertainment, strongly condemned Robinhood’s decision to offer tokenized versions of AMC shares without his company’s consent, calling the arrangement contemptible. This public statement, made on September 3, 2026, caused AMC shares to surge 21% in premarket trading. Robinhood launched its own blockchain, Robinhood Chain, on July 1, 2026, supporting tokenized versions of over 190 US stocks and ETFs, tradable 24 hours a day, seven days a week. These tokenized shares are not real AMC shares: structured as tokenized debt securities, they provide price exposure without voting rights, dividend entitlements, or legal ownership. Aron also raised concerns about the lack of SEC registration for these tokens, pointing to a potential regulatory risk for investors.
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