In a recent CNBC interview, Robinhood CEO Vlad Tenev clarified that the tokens offered for OpenAI do not represent actual equity but are instead backed by Robinhood’s investment in a special purpose vehicle. OpenAI previously cautioned that these tokens do not equate to equity ownership, emphasizing that any equity transfers would require their approval, which has not been granted. Tenev noted that while these tokens aren’t technically equity instruments, they provide retail investors with the opportunity to gain exposure to OpenAI. This model isn’t new; other platforms like Linqto have also offered pre-IPO shares through similar structures. However, Linqto’s recent bankruptcy has raised concerns regarding the ownership rights of its investors. Ripple CEO Brad Garlinghouse has distanced Ripple from Linqto, highlighting the need for caution in such investments. For more details, visit our site on Robinhood’s unauthorized tokenized equity sales.
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