Robinhood (HOOD) Stock: Tenev Fires Back at AMC CEO Over Tokenized Stock Fight

TLDR

• Robinhood CEO Vlad Tenev said public companies cannot control third-party securities that reference their publicly traded stock.
• Tenev confirmed Robinhood’s stock tokens are debt securities backed 1:1 by underlying shares, but holders receive no voting rights.
• AMC CEO Adam Aron called Robinhood’s tokenized AMC product “contemptible” and demanded it stop trading.
• The tokens are issued by Robinhood Assets (Jersey) Limited under Regulation S and are not available to U.S. customers.
• AMC has hired outside securities counsel to review the token structure, with no outcome announced yet.

Robinhood CEO Vlad Tenev appeared on CNBC’s Squawk Box on Wednesday to defend the company’s tokenized stock products after AMC Entertainment CEO Adam Aron publicly attacked them last week.

BREAKING: Robinhood CEO says companies can’t control how their stock is tokenized

The comments come on the heels of AMC CEO Adam Aron’s fiery criticism of Robinhood’s tokenized stocks, which include tokenized AMC shares.

Aron said that the increasingly popular practice of…

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