Elon Musk responded to OpenAI’s warning about “fake stocks,” asserting that even true equity may be illusory. OpenAI, the creator of ChatGPT, issued a statement on X (formerly Twitter) cautioning investors against crypto-like financial products labeled as “OpenAI tokens.” The organization clarified that these tokens do not represent shares in the company, have no partnership with Robinhood, and require approval for any equity transfer—none of which was granted. This warning follows Robinhood’s announcement of a limited stock token giveaway for its European users, which claimed to offer indirect exposure to OpenAI and SpaceX shares. Robinhood described using a Special Purpose Vehicle (SPV) to acquire stakes in these companies, facilitating tokenization for retail investors. CEO Vlad Tenev affirmed that while the tokens aren’t technically equity, they aim to democratize access to private markets and that interest from other companies is growing in this tokenization initiative.
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