{ "story_id": "401b4cad9bbeadb7898c5ac517ee2dea", "desk": "drm3", "revision": 2, "published_at": "2026-09-05T00:20:00.000Z", "content_hash": "e222d9437229730a3e5116b5bdb9d887f181b6c30d0cb2344978734b023236c6", "hash_basis": "sha256 over `headline\\ndek\\nprose`, plus `\\n` + the canonical citations JSON when any source is placed, plus `\\n#blog` for blogs", "basis": { "headline": "AMC CEO Demands Robinhood Halt Stock Tokens; Robinhood Challenges Legal Action", "dek": "AMC CEO Adam Aron demands Robinhood stop trading unregistered stock tokens, prompting a legal challenge from Robinhood.", "prose": "Adam Aron stated that AMC would ask outside securities counsel to examine the offering and asked Robinhood to voluntarily CEASE AND DESIST the trading of AMC stock tokens. [^1][^5][^7]\n\nDan Gallagher, Robinhood's chief legal officer, stated that the company will not stop trading the AMC token and said they would educate the opposing lawyers on U.S. securities laws. [^2][^8] On September 4, the Robinhood Chain Ethereum layer-2 network halted block production for at least 14 minutes, stalling transactions before activity began recovering. [^3] AMC Entertainment Holdings CEO Adam Aron publicly criticized Robinhood's tokenized equities (TEQs) as 'contemptible, outrageous... and vile' on September 4, 2026. [^4]\n\nThe token's onchain supply grew from 157,844 to 1.5 million in the 18 hours between the CEO's posts. [^6] Token Terminal estimated that Robinhood Chain accounted for 78.5% of layer-2 blockchain revenue over the past 30 days. [^9] Adam Aron stated that Robinhood's tokenized equities are not registered under U.S. securities laws and do not provide actual ownership or voting rights. [^10]\n\nAMC shares jumped as much as roughly 17% in the wake of the exchange's announcement, though they sold off from those highs later. 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