The stock token debate, and the gap nobody can close alone

AMC CEO Adam Aron called Robinhood's tokenized AMC shares a "quasi-fake market" and threatened legal action. Robinhood’s Vlad Tenev pushed back, saying a public company does not get to approve every product built on its stock.

In the wake of their social media dust-up, an argument over which kind of token is legitimate has ensued: a wrapped token, which is a claim on the underlying share, or an…