OpenAI Denies Partnership with Robinhood Over Stock Tokens
On July 2, OpenAI publicly stated that it has not partnered with Robinhood regarding the recently announced stock tokens that claim to offer exposure to OpenAI and SpaceX.
Robinhood’s Token Launch in the EU
Earlier this week, Robinhood revealed its new financial product targeting European investors: stock tokens linked to private companies, including OpenAI and SpaceX. These tokens are designed to mimic exposure to high-profile startups without traditional equity ownership.
OpenAI Responds Firmly
OpenAI made it clear on Wednesday that it had no involvement with Robinhood, did not collaborate on the project, and does not endorse it in any way. The company emphasized that it had no role in the token creation or distribution.
Legal and Ethical Implications
The announcement raises concerns about the legality and transparency of offering tokens based on private shares. Many private firms, including OpenAI, retain a right of first refusal (ROFR), allowing them to repurchase shares before they can be sold to outside investors.
What Investors Should Know
While tokenized assets can increase access to private markets, they often come without ownership rights, voting power, or company approval. Investors should approach such products cautiously and verify whether the underlying asset is officially sanctioned.
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