SEC · CoinDesk
Robinhood CEO Vlad Tenev fires back at AMC's Aron in escalating fight over stock tokens
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Robinhood CEO Vlad Tenev pushed back against AMC Entertainment CEO Adam Aron, who last week accused the trading platform of creating a “fake market” for AMC shares and threatened to involve the U.S. Securities and Exchange Commission.
Key facts
- Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume
- Robinhood CEO Vlad Tenev pushed back against AMC Entertainment CEO Adam Aron, who last week accused the trading platform of creating a “fake market” for AMC shares and threatened to involve the U.S
- Tenev also shed more light on how Robinhood’s stock tokens are structured, arguing that each token is backed 1:1 by an underlying share held as collateral, while the token itself is a debt security
- Carlos Domingo, CEO of tokenization firm Securitize (SECZ), also raised concerns about how such products trade
Summary
Robinhood CEO Vlad Tenev told CNBC on Wednesday that Robinhood does not need AMC’s consent to offer stock tokens tied to the movie-theater chain’s shares. Robinhood’s stock tokens are debt securities backed 1:1 by underlying shares held as collateral, according to Tenev. The comments follow a public feud in which AMC CEO Adam Aron called Robinhood’s stock tokens a “fake market” and threatened to take the dispute to the SEC. Securities and Exchange Commission. Tenev argued that once a company’s shares are publicly traded, it cannot control every financial product built around them, ’s “Squawk Box,” on Wedneasday.