Robinhood CEO rejects AMC token consent demand

• Robinhood CEO Vlad Tenev says AMC cannot veto third-party securities linked to its shares.
• The dispute centres on Robinhood’s tokenised AMC product, which gives economic exposure without shareholder rights.
• The clash could add pressure for clearer rules around tokenised stocks and real-world assets.

Robinhood Markets CEO Vlad Tenev has rejected AMC Entertainment Holdings’ demand to stop its stock token.

Tenev said public companies control their shares but not every financial product that references them.

“Issuer consent depends on what exactly you’re doing,” Tenev said, adding that Robinhood’s stock tokens “should not automatically require issuer consent.”

Robinhood’s Stock Tokens are tokenised debt securities issued by Robinhood Assets (Jersey) Limited and backed 1:1 by underlying shares.

Token holders receive economic exposure and dividends but do not receive voting rights or ownership rights in the underlying companies.

Robinhood launched more than 190 Stock Tokens for eligible investors outside restricted markets, including the US, UK, Canada and Switzerland.

The dispute has raised broader questions about issuer consent, investor rights and how regulators should treat tokenised securities linked to public companies.