Robinhood Markets Inc. (HOOD) experienced a nearly 6% drop in shares, reaching an intraday low of $92.11 after OpenAI disavowed its newly launched token shares, clarifying that these “OpenAI tokens” do not represent equity in the company. OpenAI asserted that it had no partnership with Robinhood, emphasizing the necessity of prior approval for any equity transfers, which had not been granted. This news followed a surge in Robinhood’s stock, hitting an all-time high of $100.88 after announcing tokenized shares in Europe, part of a broader initiative to enhance its crypto services, including over 200 tokenized stocks and ETFs. While investors in the EU can take advantage of this offering, U.S. users remain restricted due to regulatory hurdles. Despite this, Robinhood’s CEO is advocating for regulatory changes to expand access to private equity markets, highlighting the ongoing conflict between innovation and brand integrity in the tokenized finance sector.
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