jitsu

Seriously? What’s the concern you ask, @vladtenev? The list of concerns is almost existential. U.S. securities laws are in place to protect investors. For good reason, we spend millions and millions of dollars every year to comply with U.S. securities laws. In good. conscience, how can Robinhood as a U.S. company set up an operation in far offshore Jersey, an island 3000 miles away, and market a security sort of posing as AMC in some shape or fashion, and not comply with U.S. securities laws. That is shocking and shameful. Our past issuance of equity to strengthen our balance sheet was vital to our success. Your setting up some kind of fictitious synthetic equity market decouples stock token ownership from a company’s ability to control its own capital raising efforts. Share ownership gives shareholders various rights, including the right to vote their shares. Your stock token pretend to be some form of stock ownership, but disclosures to the contrary notwithstanding, they are not ownership and they deprive investors of their rights. This quasi-fake market you are creating on the island of Jersey sows distrust amongst the public about financial markets in general. There already is distrust in financial institutions, you are potentially making it far worse. These are but a few of my concerns about your actions. I hereby call on you and Robinhood to voluntarily CEASE AND DECIST the trading of AMC stock tokens. If you don’t, our high priced securities counsel has been asked to see whether we can force you to stop. I also wonder how can the SEC possibly support your sham ignoring of U.S. securities laws. You can be sure we will be asking them.