Tesla CEO Elon Musk has publicly criticized OpenAI, calling its shares “fake” after the company clarified that “OpenAI tokens” available on Robinhood are not actual shares. OpenAI emphasized that it has not partnered with Robinhood to sell any equity, stating, “Any transfer of OpenAI equity requires our approval.” Musk’s response to OpenAI’s assertion was sharp, labeling the tokens as fake equity. In defense, Robinhood explained that these tokens provide retail investors indirect access to private markets through a special purpose vehicle. Aiming to innovate, Robinhood is launching tokenized shares as part of its broader strategy to integrate blockchain and expand into digital equities. The tokens, pegged at 5 euros for eligible EU users, enable trading of digital versions of real stocks, reflecting the company’s commitment to democratize access to the financial markets. This move aligns with the growing trend of tokenization in finance, enhancing consumer participation in the economic landscape.
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