On July 2, OpenAI clarified that the digital tokens trading under its name on Robinhood’s new blockchain platform do not represent OpenAI equity and were listed without its permission. The AI developer noted, “These ‘OpenAI tokens’ are not OpenAI equity,” emphasizing that they did not partner with Robinhood, nor did they endorse this activity. OpenAI urged investors to exercise caution, reinforcing that any equity movement requires board approval.
This announcement came after Robinhood showcased a tokenized stock trade for “OpenAI” during a June 30 event in Cannes, promoting its layer-2 blockchain for trading over 200 US equities 24/7. Despite the company being privately owned, market speculation began regarding the demo asset as OpenAI equity. The trend of tokenizing stocks is gaining traction, with other companies like Kraken and Coinbase exploring similar initiatives, aiming to enhance trading efficiency and reduce costs through blockchain technology.
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