OpenAI has denied any involvement or partnership with Robinhood after the trading platform unveiled tokenized shares of OpenAI and SpaceX earlier this week.
The announcement from Robinhood was made during a product event in Cannes, France, where the company introduced its new crypto features. This move has raised questions about the legitimacy and approval of the stock tokens linked to these private companies.
OpenAI Distances Itself from Robinhood’s Tokenized Shares
In a statement issued on X, OpenAI made it clear that it did not approve of any tokenized stock offerings associated with the company. “These ‘OpenAI tokens’ are not OpenAI equity,” OpenAI wrote.
“We did not partner with Robinhood, were not involved in this, and do not endorse it.” The company emphasized that any transfer of OpenAI’s equity must have its approval, and no such approval was granted in this instance.
Robinhood’s introduction of tokenized stocks was part of a broader strategy to provide retail investors with indirect exposure to private markets. The tokens were introduced to users in the European Union, with Robinhood offering 5 euros worth of tokens to new sign-ups. However, U.S. users are excluded from this offer due to regulatory barriers.
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Kelvin Munene Murithi
Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary .
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