OpenAI issued an announcement on Wednesday clarifying that OpenAI tokens distributed to European Union customers by the buying and selling platform Robinhood don’t characterize fairness within the firm.
“We’re not concerned on this and don’t endorse it,” representatives of the corporate wrote on social media. “Any switch of OpenAI fairness requires our approval — we didn’t approve any switch. Please watch out.”
Robinhood distributed $5 price of OpenAI and SpaceX tokens to purchasers within the EU area on Monday as a part of the corporate’s push into tokenized inventory buying and selling, which included launching a layer-2 blockchain community to settle tokenized fairness trades.
In an announcement to Cointelegraph, representatives for Robinhood mentioned the token giveaways had been restricted to “eligible European clients.”
“These tokens give retail buyers oblique publicity to non-public markets, opening up entry, and are enabled by Robinhood’s possession stake in a particular objective car.”
SpaceX and OpenAI co-founder Elon Musk took the chance to criticize OpenAI’s company construction. “Your ‘fairness’ is faux,” Musk mentioned in a X put up.
Musk left OpenAI’s board in 2018 and has since been outspoken about what he sees as a departure from the nonprofit, mission-driven mannequin towards a profit-first mannequin. He has filed lawsuits accusing OpenAI of breaching its constitution and diverting charitable belongings for personal achieve.
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Robinhood declares tokenized real-world asset buying and selling
Robinhood first tipped plans to introduce tokenized inventory buying and selling for European clients in Could 2025. No date or timeline has been given for a US rollout.
Talking at Consensus 2025 in Toronto, Canada, senior vp and normal supervisor of Robinhood Crypto Johann Kerbrat mentioned that the combination of tokenized real-world belongings on the platform promotes monetary inclusion.
The corporate’s foray into tokenized equities comes amid a broader effort by crypto exchanges to combine tokenized shares, authorities securities, company bonds and different conventional belongings into their platforms, blurring the road between conventional and digital finance.
Robinhood argues that tokenization opens up beforehand inaccessible asset lessons like non-public fairness, non-public credit score, and business actual property investing to most people by the magic of asset fractionalization.
Non-public fairness and personal credit score are sometimes reserved for accredited buyers which have $1 million or extra in investible belongings or meet the annual earnings and licensing necessities of accreditation underneath EU and US laws, making them prohibitive to common retail buyers.
The corporate introduced the rollout of its layer-2 blockchain community and tokenized real-world asset buying and selling through the firm’s occasion in Cannes, France on Monday.
“Crypto is far more than a speculative asset, it has the potential to turn out to be the spine of the worldwide monetary system,” CEO and co-founder Vlad Tenev mentioned.
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