OpenAI disavows Robinhood tokens

OpenAI has distanced itself from Robinhood's offering of 'OpenAI tokens' to EU users, clarifying these tokens do not represent equity in OpenAI and were launched without their approval. Robinhood's initiative involves tokenising stocks, providing users exposure to companies like OpenAI and SpaceX through a new layer-2 blockchain network.

OpenAI has stated they have no partnership with Robinhood regarding these tokens and do not endorse them. The company emphasised that any transfer of OpenAI equity requires their explicit approval, which was not granted in this case.

Robinhood has described the tokens as providing retail investors with indirect access to private markets via Robinhood's stake in a special purpose vehicle. The move by Robinhood is part of a broader trend towards bringing traditional equities onto blockchain, but it highlights the challenges of tokenising private company stock without explicit partnerships.