OpenAI has distanced itself from tokens distributed by Robinhood that claim to offer exposure to the AI company’s private equity, asserting that the offerings are not connected to or endorsed by the company.
In a statement posted Wednesday, OpenAI clarified that “any transfer of OpenAI equity requires our approval — we did not approve any transfer.” The company urged caution, saying it has no involvement in Robinhood’s initiative.
The move follows Robinhood’s launch of tokenized stock trading for European Union users, including a promotional airdrop of $5 worth of OpenAI and SpaceX tokens to eligible clients. Robinhood emphasized the tokens merely offer indirect exposure via a special purpose vehicle (SPV) and do not represent actual equity ownership.
The controversy prompted a sharp rebuke from OpenAI co-founder Elon Musk, who posted on X, “Your ‘equity’ is fake,” continuing his criticism of OpenAI’s corporate transformation since his departure in 2018. Musk has repeatedly accused the company of straying from its original nonprofit charter.
Robinhood launched its layer-2 blockchain and tokenized asset trading platform earlier this week at an event in Cannes, France, where CEO Vlad Tenev described the effort as part of a broader mission to democratize access to financial markets.
“Crypto is much more than a speculative asset; it has the potential to become the backbone of the global financial system,” Tenev said.
While no U.S. rollout date has been announced, Robinhood's European strategy mirrors a growing push among exchanges to integrate tokenized real-world assets (RWAs) such as stocks, bonds, and private equity — asset classes traditionally inaccessible to retail investors.
The company’s European expansion coincides with a wave of regulatory changes and growing interest in financial inclusion through blockchain technology, though the OpenAI token incident highlights the legal and reputational risks associated with tokenized equity offerings.
