Trader books $2M paper gain from MEME rally tied to Robinhood-AMC feud
A crypto trader recorded an unrealized gain of over $2 million in under 12 hours by trading a meme coin, MEME, that surged amid controversy involving Robinhood Markets and AMC Entertainment. On Sep. 3, AMC CEO Adam Aron criticized Robinhood for offering a tokenized AMC stock without registering under U.S. securities laws and threatened legal action to stop the trading.