Same Ticker. Different Can. — Robinhood, AMC & Who Controls the Shelf | Onchain Radio Ep. 004
On Friday we were in the kitchen. Monday we went to the store. I grew up stacking cans in my parents’ Italian bakery and specialty market. My old man never trusted the picture on the front. He turned the can around. What’s in it. Where was it packed. Naples on the lid, or California in the tin. That is this episode. Robinhood put an AMC name on a token packed in Jersey. Not an AMC share. A separate instrument. Economic exposure. No vote. Not for U.S. investors. AMC’s CEO found it and called it vile. On Friday, Vlad Tenev published the brief: once a stock is public, going onchain should not give the issuer a veto it never had offchain. Options desks have been cooking off that plate for decades. The other rule sits next to it. If you packed the second can, the lid has to say so. Same ticker. Different can. Live Monday–Friday, 8:30 AM ET on X. In this episode 0:00 Kitchen to grocery store 2:00 Turning the can around 6:00 AMC on the lid, Jersey in the tin 10:00 Does the issuer get a new veto onchain? 14:00 Vlad’s Friday brief 18:00 Share vs. separate instrument 24:00 24/7 rails, wallets, what the consumer actually owns 31:00 Land the plane Read Vlad Tenev, “Tokenization: On Issuer Consent” (Sept 11, 2026) Nothing here is legal, financial, or tax advice.