OpenAI Rejects Robinhood’s Release of “OpenAI Tokens” in EU
OpenAI has opposed Robinhood's launch of “OpenAI tokens” in the EU, clarifying that these tokens do not represent ownership in OpenAI. Key points include:
- OpenAI stated, “These tokens are not OpenAI equity. We did not approve or endorse this.”
- Robinhood claims the tokens allow access to private markets, linked to a special purpose vehicle (SPV) holding shares in companies like OpenAI and SpaceX.
- Investors are removed from actual equity, with tokens reflecting only a derived value.
- Critics, including Elon Musk, labeled the claims as “fake,” highlighting legal and ethical issues in selling synthetic exposure.
- Other startups, such as Figure AI, have initiated legal actions against unauthorized token sales.
- Robinhood defends its approach as financial innovation, but skepticism persists as major firms distance themselves from the tokens.