Key Details:
- OpenAI made it clear that any tokenized equity offerings for its company on Robinhood are unauthorized and not supported by the organization.
- The new tokenized stock trading features involve various equities and ETFs; however, the source of equity related to companies like OpenAI is uncertain.
- Experts caution that private companies, such as OpenAI, might choose to disregard unauthorized equity transactions on secondary marketplaces.
Tokenized equity offerings circulating among Robinhood users in Europe are not legitimately authorized, OpenAI stated in a recent social media update.
“These ‘OpenAI tokens’ aren’t representative of actual OpenAI equity. We did not partner with Robinhood, were not involved in these offerings, and do not endorse them,” OpenAI stated on X. “Any transfer of OpenAI equity requires our approval — we did not authorize any transfer.”
OpenAI warning
Earlier in the week, Robinhood launched its new tokenized stock trading initiative in Europe based on the Arbitrum blockchain, allowing users to trade in 200 different equities and ETFs, including those linked to popular startups like OpenAI and SpaceX.
The concept of tokenizing equity in private companies is not unfamiliar, having been previously attempted by various platforms. However, this move has raised concerns about compliance and the possibility that the companies involved may not recognize or honor such unapproved sales.
