AMC Entertainment CEO Adam Aron criticized Robinhood on Sept. 3, 2026, over what he described as an effort involving tokenized real-world assets, including stock tokens linked to AMC shares and those of more than 190 other companies. The dispute matters because Aron said the tokens were not registered under U.S. securities laws and were launched without AMC’s involvement or endorsement.

“Robinhood apparently is behind an effort related to ‘tokenized real-world assets including Stock Tokens’ for AMC Entertainment (and supposedly 190+ other companies). They are not registered under U.S. securities laws !!!!!! I find this practice to be contemptible, outrageous, disgusting, detestable, inexcusable, vile. How can it possibly be legal?” Aron said in an X post.

Aron said AMC had nothing to do with the launch of the tokens and did not endorse the practice. “We immediately are going to have our outside securities counsel look into this,” he added.

Robinhood co-founder and CEO Vlad Tenev responded briefly: “What’s the concern?”

Robinhood documentation outlines restrictions

Robinhood documentation cited by Aron states that its stock tokens are not registered under U.S. securities laws and may not be offered, sold or transferred, directly or indirectly, within the United States or to U.S. persons.

The documentation also says offers and sales of the tokens are restricted in other jurisdictions, including Canada, the United Kingdom and Switzerland.

The issuer is Robinhood Assets (Jersey) Limited, a private company registered on the island of Jersey. The documentation separately states that the stock tokens have not been and will not be registered under the U.S. Securities Act of 1933, with state regulators or in other U.S. jurisdictions.

Those restrictions mean that tokenizing shares does not by itself allow the corresponding tokens to be offered freely to U.S. investors. Aron’s statements focused on the tokens’ lack of registration and AMC’s lack of involvement.

MEME token records speculative surge

Amid the public dispute, a memecoin called MEME, linked to tokenized AMC, appeared on Robinhood Chain.

OpenSea data showed that MEME had a fully diluted valuation of $131.7 million and 15,401 holders at the time of writing. Its 24-hour trading volume was $41.5 million.

The token’s fully diluted valuation increased 206,400% over 24 hours and 94,200% over seven days. Its separate 24-hour change was listed as 181,600%.

The asset emerged during a broader increase in Robinhood Chain activity. On Sept. 1, 2026, daily trading volume on the network’s decentralized exchange exceeded $1.55 billion, while total value locked in decentralized-finance protocols topped $750 million. Real-world-asset trading volume reached $390 million, setting new highs across the individual categories.

PONS, a launchpad token used to roll out native tokens on Robinhood Chain, also climbed by more than 360% over seven days. Its market capitalization surpassed $500 million.

Source: Incrypted