Adam Aron: Robinwood's unauthorized tokenization of AMC stocks, Vlad Tenev: aimed at meeting the needs of international investors

AMC Entertainment CEO Adam Aron stated that Robinhood tokenized AMC stock without the company's consent and called the product disgusting. Robinhood CEO Vlad Tenev stated that the company does not need to obtain consent, and the related products are designed to meet the needs of international investors for exposure to US stocks. The disputed product is issued by an offshore subsidiary of Robinhood and belongs to debt securities. Tokens track stock prices, but buyers do not own the corresponding underlying stocks. The industry refers to such synthetic products as "packers". (Source: Reuters)