AMC CEO Blasts Robinhood Stock Tokens, Questions If They’re Legal
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AMC CEO Blasts Robinhood Stock Tokens, Questions If They’re Legal

رؤى رئيسية:

  • AMC CEO Adam Aron says AMC has no connection to Robinhood stock tokens.
  • Robinhood stock tokens remain unavailable to U.S. persons under its disclosures.
  • HOOD stock jumped 16.57% to $124.72 on Sept. 3 before easing premarket.

Robinhood stock token plans drew criticism from AMC Entertainment CEO Adam Aron after AMC appeared among tokenized equities. Aron said AMC has no connection to the products and does not support their use. He questioned whether the structure complies with securities law and said outside counsel would review it.

Aron cited Robinhood documents stating that Stock Tokens are not registered under U.S. securities laws. Those documents also say the tokens cannot be offered or sold to U.S. persons. Robinhood stock-related products therefore remain limited to eligible users outside the United States.

AMC CEO Questions Robinhood Stock Token Structure

سهم Robinhood tokens are issued by Robinhood Assets Jersey Limited, according to the company’s disclosure. The Jersey company is registered under number 162428 and operates from St. Helier. Its documents state the tokens are not registered under the Securities Act of 1933. They also cannot be delivered within the United States or for the benefit of U.S. persons.

AMC CEO Adam Aron Questions Robinhood Stock Tokens | Source: X
AMC CEO Adam Aron Questions Robinhood Stock Tokens | Source: X

The restrictions extend beyond the United States in several markets. Robinhood lists Canada, the United Kingdom, and Switzerland among jurisdictions with sales restrictions. The company also provides a broader list of places where offers remain limited or prohibited.

Aron إن AMC had no involvement with the tokenized effort. He also said the company did not condone the products. AMC will ask outside securities counsel to examine the matter, according to Aron. However, he did not announce any legal filing in the information provided.

Robinhood Stock Expansion Moves Further Onchain

Robinhood expanded its tokenization strategy in July with Robinhood Chain, an إيثيريوم Layer 2 network. The network uses Arbitrum technology and supports tokenized real-world assets and decentralized finance applications. The July 1 rollout opened Stock Token trading through its Wallet in more than 120 countries.

Robinhood Chain launched with 95 tokenized equities. The assets can move as ERC-20 tokens across supported wallets and applications. They can also interact with decentralized exchanges and lending platforms where access rules permit. Those features extend the products beyond a brokerage-only trading model.

Activity increased during August. Uniswap tokenized-stock trading volume on Robinhood Chain reached $1 billion, according to Hayden Adams. Earlier, a FalconX report showed the network had reached $431 million in total value locked. Stablecoin market capitalization stood near $400 million within three weeks of launch.

HOOD Stock Surges During Tokenization Debate

Google Finance data أظهرت that HOOD stock closed Sept. 3 at $124.72, gaining 16.57% during the session. The Robinhood stock rose $17.73 from its previous close of $106.99. It opened near $113 and quickly moved above $120 before approaching the $124 to $125 range.

Robinhood (HOOD) Stock Price | Source: Google Finance
Robinhood (HOOD) Stock Price | Source: Google Finance

Robinhood shares then traded mostly between $122 and $125. Volume was strongest during the early rally and faded later in the session. The stock tested $125 several times without reaching a move above it. Premarket trading later showed HOOD stock at $123.67, down 0.84%.

The share move came as Aron challenged the stock tokens tied to AMC. His concern centered on registration, U.S. distribution limits, and AMC’s lack of involvement.

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أنا شغوف بأسواق المال ولدي خبرة 4 سنوات، متخصص في العملات الرقمية والقطاع المالي الأوسع. خريج تخصص اللغة الإنجليزية، أجمع بين شغفي الصحفي واهتمامي العميق بالبلوكشين، الأصول الرقمية، واتجاهات التكنولوجيا المالية. بالإضافة إلى التغطية والتحرير، أحب الكتابة وتأليف الأغاني.