OpenAI Issues Firm Warning Over Unauthorized Tokenized Shares on Robinhood

OpenAI has issued a strong objection to Robinhood's decision to offer tokenized versions of its shares on the platform's European cryptocurrency services. In a statement posted on X (formerly Twitter), the AI firm clarified: 'These ‘OpenAI tokens’ do not represent actual OpenAI stock. We have no affiliation with Robinhood, were not consulted in this process, and do not endorse this product.' The company further emphasized that any transfer of its shares requires explicit approval, warning investors to exercise caution.

Meanwhile, Robinhood unveiled its new crypto-focused offerings, including tokenized stocks of private companies like OpenAI and SpaceX, at an event in Cannes, France. The platform is distributing €5 worth of these tokens to eligible European users who sign up by July 7. A Robinhood spokesperson defended the initiative, stating these tokens 'create opportunities for retail investors to access private markets indirectly through shares held by a special purpose vehicle.'

The development highlights the ongoing tension between crypto platforms seeking to democratize financial access and companies maintaining control over their equity. Due to U.S. regulatory restrictions, American users cannot access these tokenized offerings. Robinhood’s stock surged past $100 following the announcement, reaching a new all-time high.