OpenAI has strongly criticized Robinhood’s recent launch of crypto tokens representing indirect exposure to the company, clarifying that these tokens are not genuine shares of OpenAI. In a post on X, OpenAI emphasized they did not authorize any transfer of equity and were not involved with Robinhood’s initiative. The launch initially spurred Robinhood’s stock prices to climb beyond $100, yet soon after OpenAI’s denial, the company experienced a stock decline. While Robinhood CEO Vlad Tenev argued that the assets provide valuable exposure to private firms like OpenAI and SpaceX, various investors raised concerns about the legal implications of promoting synthetic assets without explicit approval. Elon Musk, CEO of SpaceX, took the opportunity to mock OpenAI’s stance, further complicating the narrative with no official comment from SpaceX regarding the tokenized shares. This controversy highlights the potential risks of offering unverified market exposure.
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