OpenAI rejects Robinhood’s token offering
Robinhood faces backlash after launching tokens linked to OpenAI without permission, prompting OpenAI to issue a public warning on X.
OpenAI has publicly disavowed Robinhood’s decision to sell so-called ‘OpenAI tokens’, warning that these blockchain-based contracts do not offer real equity in the company.
In a statement posted on X, OpenAI made clear that it had not approved, endorsed, or participated in the initiative and emphasised that any equity transfer requires its direct consent.
Robinhood recently announced plans to offer tokenised access to private firms like OpenAI and SpaceX for investors in the EU. The tokens do not represent actual shares but mimic price movements using blockchain contracts.
Despite OpenAI’s sharp rejection, Robinhood’s stock surged to record highs following the announcement.
A Robinhood spokesperson later claimed the tokens were linked to a special purpose vehicle (SPV) that owns OpenAI shares, though SPVs do not equate to direct ownership either.
The company said the move aims to give everyday investors indirect exposure to high-profile startups through digital contracts.
Robinhood CEO Vlad Tenev defended the strategy on X, saying the token sale was just the beginning of a broader effort to democratise access to private markets.
OpenAI, meanwhile, declined to comment further.
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