OpenAI Denies Robinhood Tokenized Stock Launch
OpenAI Denies Involvement in Robinhood's Tokenized Equity Launch
OpenAI has publicly denied any involvement or endorsement of Robinhood's recent launch of tokenized equities on the Arbitrum blockchain. The statement follows Robinhood's introduction of over 200 tokenized US equities, including those of Microsoft, Nvidia, and notably, OpenAI itself, targeted at European clients.
Key Takeaways:
- OpenAI explicitly denied authorization or endorsement of the "OpenAI tokens" on Arbitrum.
- Robinhood's launch included approximately 213 tokenized equities on Arbitrum, with minimal minting fees (around three cents per token).
In a statement posted on X (formerly Twitter), OpenAI clarified that these tokens do not represent OpenAI equity and that any transfer of genuine OpenAI equity requires their explicit approval, which was not given in this instance.
“These ‘OpenAI tokens’ are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it,” OpenAI stated. “Any transfer of OpenAI equity requires our approval—we did not approve any transfer.”
This launch by Robinhood follows similar moves by centralized exchanges like Bybit and Kraken, who offer tokenized stock products via Backed Finance’s xStocks. This expanding market already includes over 60 stocks across various platforms, highlighting the growing interest in tokenized securities.
The Securities Industry and Financial Markets Association (SIFMA) has cautioned against the rapid expansion of tokenized equity products, urging the US SEC to carefully scrutinize these offerings and implement a transparent regulatory framework.
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