Inside the Controversy Brewing Over Robinhood’s Tokenized Stocks
OpenAI condemned the unauthorized tokenization of its equity after Robinhood listed digital stock tokens labeled as "OpenAI" and "SpaceX." OpenAI clarified that it did not partner with Robinhood, was not involved in the token launch, and did not approve any equity transfer. Robinhood stated that the tokens provide indirect exposure to private markets but do not confer ownership or voting rights. U.S. customers are prohibited from purchasing these tokens due to regulatory restrictions. Legal experts expressed concerns about the lack of transparency and potential SEC scrutiny, arguing that the tokens could mislead investors. Criticism was also directed at the design of Robinhood's tokenized contracts, which are seen as limiting interaction with decentralized finance (DeFi).
