AMC Entertainment CEO Adam Aron rejected Robinhood’s tokenized product linked to AMC shares, saying the theater chain neither participated in nor condoned the offering. He called the practice "contemptible" and "outrageous" and said AMC would ask outside securities counsel to examine the use of its name and stock. Robinhood’s Stock Tokens provide economic exposure to underlying U.S. equities and exchange-traded products but do not give holders ownership, voting rights or other legal or beneficial rights against the issuing companies. The products use different structures, including derivative contracts and ERC-20 tokenized debt securities issued by Robinhood Assets (Jersey) Limited. Robinhood launched its Ethereum Layer 2 Robinhood Chain, built using Arbitrum technology, on July 1, opening Stock Token trading through Robinhood Wallet to eligible users in more than 120 countries. The network launched with 95 tokenized equities, and combined tokenized-stock trading volume through Uniswap on Robinhood Chain reached $1 billion in August, according to Uniswap founder Hayden Adams. The products are unavailable to U.S. investors. AMC has not announced legal action and will first seek an outside legal review. OpenAI raised a similar objection in July 2025, saying Robinhood tokens linked to the privately held company were not OpenAI equity and had not been endorsed by OpenAI.