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      Debate Intensifies Over Tokenized Stock Models in AMC Dispute

      The ongoing dispute between AMC Entertainment CEO Adam Aron and Robinhood regarding tokenized AMC stock has sparked a broader debate among industry leaders about the future of tokenized stock issuance. Gabriel Otte, co-founder of Dinari, has criticized Robinhood's synthetic tokens, labeling them as detrimental to investors compared to traditional stocks. Meanwhile, Hayden Adams, founder of Uniswap, has likened the situation to the early days of stablecoins, emphasizing the demand for programmability and continuous trading.

      Currently, three distinct models are vying for dominance in the $2.91 billion tokenized stock market. Robinhood's model involves debt securities issued by a Jersey entity, which are only accessible to non-U.S. persons. In contrast, Ondo, xStocks, and Dinari utilize regulated intermediaries to hold the underlying stocks and distribute economic benefits. The third model, employed by Securitize and Superstate, involves placing company-registered stocks directly on-chain. The U.S. SEC's Division of Corporation Finance has officially defined these models as of January 28.

      Recent data indicates that the tokenized stock market has experienced a 14.4% growth over the past month, with a total market size of $2.91 billion. Ondo currently leads the market with $869.6 million in tokenized stocks. Securitize CEO Carlos Domingo has voiced support for Aron, expressing concerns over the creation of offshore derivatives of company stocks. Additionally, Brian Huang, co-founder of Glider, has pointed out that the trading venue's reliability is more critical than the specific packaging format of the tokens.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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