Tesla CEO Elon Musk has once again criticized OpenAI, this time saying that the company’s shares are “fake.” The tech billionaire made the statement on his social media platform X (formerly Twitter) in response to OpenAI’s clarification that the "OpenAI tokens" being sold by trading app Robinhood are not real shares of the company. The company said that it has not partnered with Robinhood or any other platform to offer its stock.
“These “OpenAI tokens” are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval—we did not approve any transfer. Please be careful,” reads an X post shared by OpenAI.
Musk responded to it saying “Your “equity” is fake”.
Robinhood responds to OpenAI’s post
Responding to OpenAI’s post, a Robinhood spokesperson told CNBC: “These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle”.
Robinhood announced earlier this week that it is launching tokenized shares as part of a larger plan to expand into blockchain, staking, and tokenized equities. The company offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users who have signed up trade stock tokens by July 7. These tokens are issued under the EU’s looser investor restrictions via the company’s crypto platform. This means the platform aims to let users trade digital versions of real company stocks using blockchain technology.
Johann Kerbrat, Robinhood’s SVP and GM of crypto said “This is about expanding access. The goal with tokenization is to let anyone participate in this economy.”
“These “OpenAI tokens” are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it. Any transfer of OpenAI equity requires our approval—we did not approve any transfer. Please be careful,” reads an X post shared by OpenAI.
Musk responded to it saying “Your “equity” is fake”.
Robinhood responds to OpenAI’s post
Responding to OpenAI’s post, a Robinhood spokesperson told CNBC: “These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle”.
Robinhood announced earlier this week that it is launching tokenized shares as part of a larger plan to expand into blockchain, staking, and tokenized equities. The company offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users who have signed up trade stock tokens by July 7. These tokens are issued under the EU’s looser investor restrictions via the company’s crypto platform. This means the platform aims to let users trade digital versions of real company stocks using blockchain technology.
Johann Kerbrat, Robinhood’s SVP and GM of crypto said “This is about expanding access. The goal with tokenization is to let anyone participate in this economy.”
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