Robinhood’s OpenAI and SpaceX Tokens Under EU Investigation
Robinhood's stock token offerings are under scrutiny in the EU following OpenAI's warning that its tokens do not confer equity stakes. Lithuania's central bank is investigating these offerings, particularly those linked to OpenAI and SpaceX, and is awaiting clarifications from Robinhood. The brokerage launched a layer-2 blockchain on June 30 to support its tokenized securities in Europe, planning to issue over 200 US stock and ETF tokens. Concerns focus on private equity tokens for non-public companies, as OpenAI clarified these do not represent equity. Tokenization is a growing market valued over $24 billion, with major firms like BlackRock entering the space. Tokenization is enhancing private credit markets by improving access and liquidity, with industry executives suggesting tokenized stocks could represent a trillion-dollar opportunity.
