AMC Entertainment CEO Adam Aron and Robinhood CEO Vlad Tenev publicly clashed over Robinhood’s tokenized stock plan after Aron denounced tokens tied to AMC and more than 190 other companies as unauthorized and unregistered under U.S. securities law. Aron said AMC never authorized the products, does not condone them, and has retained outside securities counsel to investigate, while citing Robinhood disclosures that the tokens may not be issued, sold or delivered in the United States or to U.S. persons and face further limits in markets including Canada, the United Kingdom and Switzerland. The issuer is Robinhood Assets (Jersey) Limited. Tenev answered on X by asking what the concern was, turning the dispute into an open exchange over legality and authorization. The episode has fueled trading in MEME, a Robinhood Chain meme coin linked by the community to AMC after users read AMC as “A Meme Coin,” with GMGN data showing its market value briefly exceeding $60 million and standing near $59.79 million after an intraday surge of more than 3,100 times. The move follows Robinhood’s report of more than $3 billion in onchain stock-token volume within 63 days.