According to CoinMeta, Adam Allen, the CEO of AMC Entertainment Holdings, launched a fierce critique of the tokenization of Robinhood's shares, questioning the legality of these products. AMC's stock price rose by 14.17% in pre-market trading following Allen's statements on social media that he has no association with the tokens and did not approve or endorse them. He also pointed out that Robinhood's stock tokens are not registered under U.S. securities laws, describing this practice as "despicable, infuriating, and repulsive." Robinhood's CEO, Fred Tenev, responded by saying, "What's the problem?" The stock tokens of Robinhood are not shares of the companies they track but rather tokenized debt securities issued by Robinhood Assets (Jersey) Limited, providing exposure to the underlying stocks and ETF. Holders do not enjoy ownership, voting rights, or other shareholder privileges of AMC.