I want to extend my highest praise to Paul Atkins, Chairman of the U.S. Securities and Exchange Commission, for the wise decision — perhaps a better characterization being the brilliant decision — he announced today on behalf of the SEC about Stock Tokens.
The SEC granted a five year period of experimentation on this topic in U.S. markets. In doing so, the SEC laid out some inviolate and unequivocally annumerated conditions:
The SEC highlighted that “Investor Protection Is Not Optional.” The SEC clearly laid out that even as it puts forward an “Innovation Exemption,” the SEC has an implicit right to govern on this issue. This means that at least within the U.S., there is an underpinning that appropriate regulatory bodies can regulate
as they think is needed. I believe that over the last full century, investors have best been protected when U.S. regulatory bodies have been involved and U.S. securities laws have been applicable. Thank you, SEC.
The SEC also emphasized that there can be “No Synthetics.” Any such Stock Tokens must carry full voting and dividend rights. No synthetics is such a vital and basic concept. Thank you, SEC.
Also of crucial importance, the SEC mandated that “Issuers Can Object.” It said that issuers of stock must have the opportunity to object and prevent their security from being trading on a Tokenized Securities Venue if companies so choose. This puts companies in charge of their own securities and capital structures, not brokerage houses. Thank you, SEC.
I applaud what the SEC did today. Bravo!
And @vladtenev and @DanGallagherDC I note that at Robinhood you accepted and supported the SEC’s ruling today. I call on you now to adhere to the exact same standards internationally. How hypocritical would it be if Robinhood’s stock tokens abroad were to differ materially from stock tokens in the U.S. on these hyper-important matters of investor protections, synthetics and issuer objections.
Adam Aron
Chairman and CEO
AMC Entertainment
@JordanDajani Peyton Manning had a 3-13 record as the starting quarterback for the Indianapolis Colts in his rookie season in 1998.Rookie Season
Stats:
Games started: 16
Passing yards: 3,739
Touchdowns: 26
Interceptions: 28
Completion percentage: 56.7%
@eMTBrides In 1994, there was a Marine that entered Navy bootcamp in a Great Lakes , IL., because he wanted to be a HM and the Marine Corps didn’t have that. So I would respectfully argue that in the 90’s this was not a true statement Marines would have to go through Navy boot camp.
In my crosshairs as much as Robinhood’s shameful Stock Tokens and the trademark- infringing meme coins that they trade: dreaded TICKET SCALPERS.
So far, we have reclaimed more than 1,600 AMC tickets from resale sites posted there.
Scalpers beware, AMC is coming after you.
Hey there @DanGallagherDC, in the past week you and @vladtenev CEO of Robinhood have made public comments defending your use of and “standing behind” your relatively new Stock Token concept.
I think this practice is abhorrent. It defeats the very ethos of share ownership. Public financial markets were created so that companies could raise capital, and so that investors could share in the wealth created as a result. Not to turn investing instead merely into some gamified business-oriented casino.
If by your own admission you can’t offer or sell Stock Tokens to “U.S. persons” why does your U.S. web site talk about them so much and so favorably?
Vlad: How can a U.S. brokerage firm be proud of creating an offshore Channel Island operation in far off Jersey specifically with the intent to operate outside U.S. securities laws? Is there potential confusion that Stock Token purchasers are getting less than all the rights accorded to real shareholders, and if so do you care? If those tokens are theoretically backed 1:1 by real shares, but hypothetically some of those underlying real shares are in turn lent out to short sellers, are the Tokens really backed 1:1 in fact?
Dan: I think U.S. securities laws have protected the public very well over the past century. You spent much of your career at the SEC. Deep down, in your heart of hearts, how can you really think a world without the precautions imposed by U.S. securities laws creates a better, safer environment for investors?
Choose whatever descriptors you think best make sense under the circumstances: Non-regulated, derivative, synthetic, sham, debt-backed securities trying to simulate actual real stock, or pick your own words if these don’t fit.
Stock Tokens may make you an innovator in your own eyes. In my eyes, they bring your firm dishonor.
@CEOAdam the vast majority of your $AMC share holders are asking for an updated count of shareholder distribution as we have not had one in several years. Can you please report these numbers at the annual #AMC meeting or Q3 reporting. I am asking for the millions of us.
August 2026 had the highest industry-wide domestic box office grosses for any month of August since record keeping started 50 years ago. See for yourself: https://t.co/F2DMd8G681
Experts moronically predicting movie theatres were dead?
What a total crock of - - - - !
Robinhood says the AMC token is backed 1:1. @CEOAdam is now asking a bigger question: why does a parallel AMC-linked market exist at all without AMC’s authorization? The token trades 24/7, carries AMC’s economic exposure, can move through DeFi and collateral markets, yet token holders own no AMC equity and have no voting rights. Aron just amplified the argument that this isn’t simply about backing. It’s about price discovery, shareholder rights and a second market AMC never approved. If Robinhood says everything is clean, show the plumbing: token supply, custodial shares, minting and redemption. Transparency ends the argument. $AMC Over Noise. 🔎⛓️⚖️
On Monday, AMC made quite a consequential announcement. We have created a new venture, Leawood Films. It’s a disciplined, low risk way for AMC to distribute movies to movie theaters in the US and around the world. Our goal is simple – get some movies made and released into theaters that might not otherwise be greenlit for theatrical exhibition.
Obviously, our bread and butter will always come from major Hollywood studios, and our other key distribution partners. But if we can get some extra movies made, it will be gravy for AMC as well as for other movie theater operators with whom we will work.
We are pleased to be taking this innovative step forward.