The Daily: AMC's CEO slams Robinhood's tokenized shares as 'outrageous,' and more

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Happy Friday! Bitcoin dipped back below $80,000 after a stronger-than-expected U.S. jobs report pushed rate-hike odds higher. 21Shares' Matt Mena is eyeing a recovery toward $82,000, while Bitget Research's Ryan Lee said holding above $78,000 through next week would indicate the rate move has been priced in.

In today's newsletter, AMC CEO Adam Aron hits out at Robinhood's tokenized stocks, bitcoin ETFs see their largest daily inflows since January, Trezor says the ShipMonk data breach affected another 67,000 of its customers, and more.

Meanwhile, Zcash tops $1,000 as ETF inflows ramp up and miners pile in.

P.S. Don't forget to check out today's reader poll on bitcoin's reaction to the jobs report later in the newsletter.

AMC CEO slams Robinhood over 'outrageous' tokenized shares

AMC CEO Adam Aron blasted Robinhood for tokenizing U.S. stocks, calling the practice "outrageous" and questioning how it could be legal.

• Aron said AMC has no connection to the tokens offering exposure to its stock and will ask its outside securities counsel to review the matter.
• Robinhood CEO Vlad Tenev fired back with a terse "What's the concern?" while the company's own docs describe the tokens as debt securities issued by an offshore affiliate that carry no ownership or shareholder rights.
• The fintech giant stipulates that tokenized stocks have not been registered as securities in the U.S. and may not be offered in the country.
• AMC's stock jumped nearly 21% in overnight trading to $3.07 amid the spat. AMC is currently up 5.3% in the regular Friday session.
• It echoes a similar 2025 clash when OpenAI disowned Robinhood's tokens tied to it, with Tenev arguing then that they're derivatives, not equity, and shouldn't need a company's opt-in.
• Tokenized stocks have surged in recent months, with total market cap hitting $13.4 billion as of Sept. 1, up from $2.5 billion at the start of the year.

US bitcoin ETFs report the largest inflow day since January, worth $731 million

U.S. spot bitcoin ETFs pulled in $730.9 million Thursday, their biggest single-day haul since mid-January, led by about $454 million into BlackRock's IBIT.

• BTC Markets' Rachael Lucas said the concentration in IBIT signals institutional allocation rather than tactical positioning, suggesting bigger players are accumulating.
• BTSE COO Jeff Mei credited Fed Governor Christopher Waller's dovish comments, saying his signal that he'd back holding rates steady if inflation cools sent crypto and growth stocks higher on Thursday.
• However, Lucas warned that following today's job numbers, next week's CPI data will decide whether the recent rally holds.

Trezor says ShipMonk breach affected another 67,000 customers

Trezor said Friday that another 67,000 U.S. customers were impacted by the ShipMonk data breach, sharply expanding an incident initially disclosed as impacting nearly 14,000 people last month.

• ShipMonk told Trezor on Sept. 2 that the breach had also hit orders from November 2019 to August 2021, exposing names, emails, phone numbers, shipping addresses, and order numbers.
• Trezor said it had repeatedly asked ShipMonk to delete customer data within 90 days and received written assurances it had, adding that it is "very disappointed" the records were never actually removed.
• The company stressed its own systems and hardware wallets were not compromised, and warned affected customers to watch out for scam emails, fraudulent calls, and letters, as well as potential physical security risks.

South Korea to start tokenizing securities in three stages from 2027

South Korea's Financial Services Commission unveiled plans to build infrastructure to tokenize "all types" of securities, including stocks, bonds, and funds, in three stages from 2027.

• The first stage starts when the securities token law takes effect in February, tokenizing private money-market funds and corporate bonds for institutions, with unlisted shares tokenized via trusts.
• Later stages would expand to publicly offered securities and eventually build onchain settlement, letting investors settle tokenized securities with stablecoins.
• Existing brokerages can handle tokenized securities without a new license, according to the regulator, citing BlackRock's BUIDL and Hong Kong's green bonds as models.

El Salvador has not used public funds to accumulate bitcoin since June 2025, IMF says

The IMF said El Salvador hasn't used public funds to accumulate bitcoin since June 2025, with the country providing documentation that later additions came solely from private donations.

• The disclosure came as IMF staff struck a deal on El Salvador's combined second and third program reviews that would unlock about $140 million, pending board approval.
• The IMF said no further accumulation beyond the documented donations is expected, and noted El Salvador is improving transparency across its bitcoin wallets while winding down public control of its Chivo e-wallet.

Looking ahead to next week

• U.S. markets are closed on Monday for Labor Day. U.S. mortgage data are out on Wednesday. U.S. jobless claims and PPI figures follow on Thursday. UK GDP and U.S. CPI numbers are released on Friday.
• Ethena, Hyperliquid, Aerodrome Finance, and Aptos are among the crypto projects set for token unlocks.
• Lagos Blockchain Week, Boston Blockchain Week, Crypto Expo Dubai UN, Blockchain Week, and ETHRome all get underway.

Reader poll

Bitcoin just fell below $80K after a blowout jobs report. Does it reclaim $80,000 by Monday?

YES, BACK ABOVE

NO, STAYS BELOW

One click records your pick. We'll share the result in a later edition.

*51% of respondents in last Friday's poll said they expect the Fed to hold or cut rates on Sept. 16.

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