BlockBeats reported on September 5 that AMC CEO Adam Aron again targeted Robinhood on X, sharply criticizing the platform for advertising offshore Stock Tokens on its U.S. website. Aron argued that Robinhood is effectively circumventing the spirit of securities laws and creating an unauthorized synthetic market.
"Playing fast and loose with U.S. securities law is not something that brings honor to Robinhood. It is also not something that adds integrity or credibility to the financial markets," Aron said directly to Robinhood co-founder Vlad Tenev. "You yourself admitted that under these circumstances, you are not complying with U.S. securities law, and therefore you cannot offer or sell these Jersey offshore tokens to U.S. persons. Yet your company is aggressively promoting them on your U.S. website."
Possibly influenced by the remarks, the MEME token accelerated its decline, falling below $40 million in market cap to a temporary value of $38.82 million, according to GMGN market data.