A token called "A Meme Coin," launched on Robinhood Chain and loosely tied to AMC Entertainment, fell over 55% in 24 hours after a public feud between AMC's CEO and Robinhood executives. The token has now dropped roughly 79% from its intraday peak, though trading volume stays elevated.
"A Meme Coin" fell over 55% in a single 24-hour stretch, extending a broader collapse that has erased roughly 79% from its intraday peak. At its high, the token traded between $0.13 and $0.1585; by September 5, it sat around $0.038.
From $3 million to $150 million and back
The token launched on September 3, 2026, on Robinhood Chain, the blockchain platform Robinhood rolled out in July 2026 to support tokenized equities and 24/7 trading. It carries a total supply of 1 billion tokens. Within hours of going live, its market cap rocketed from approximately $3 million to nearly $150 million, then gave back most of those gains in a swift retracement.
Trading volume, however, stayed elevated, fluctuating between $70 million and $150 million even as the price fell. The market cap settled around $40 million once the dust cleared.
A public feud lit the fuse
The launch turned combustible after AMC Entertainment CEO Adam Aron publicly criticized Robinhood's tokenized AMC product. According to Crypto Briefing: Aron labeled it "contemptible", requested its termination, and threatened legal action against the brokerage platform. Robinhood executives responded by defending the product's legality.
Robinhood Chain did not create or endorse the token — blockchains are permissionless, so anyone can launch one. Still, the episode raises questions about the platform's positioning, which launched in July 2026 promising to bring traditional financial assets on-chain.
Trading volume still ranges between $70 million and $150 million after the collapse, a level Crypto Briefing says suggests the token has not fully died. Its market cap now sits near $40 million, with the price around $0.038, down sharply from the launch-day high.
Source: Crypto Briefing
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