02.07.2025 22:22
OpenAI vehemently denied any association with "OpenAI tokens" appearing on Robinhood's new blockchain platform, clarifying that these tokens do not represent any form of OpenAI equity. The company issued a statement on X, explicitly stating that the listing was unauthorized and lacked their endorsement. This announcement underscored the importance of their approval for any OpenAI equity transfer, emphasizing that no such approval was granted. They urged investors to exercise caution, reminding them of the board's mandatory approval process for all equity transactions within the privately held company.
This clarification followed Robinhood's June 30th demonstration in Cannes, France, where CEO Vlad Tenev showcased a tokenized stock trade involving a purported "OpenAI" position on their upcoming layer-2 blockchain. Robinhood's platform, utilizing Arbitrum technology, aims to facilitate 24/7 commission-free trading of over 200 US equities and ETFs for eligible European users. The platform converts these assets into on-chain tokens for seamless transfer and settlement. This demonstration significantly boosted Robinhood's class-A shares, propelling them to a record high and adding fuel to an existing month-long rally. However, market speculation rapidly equated the demonstrated asset with actual OpenAI equity, despite the company's private status.
Robinhood's move is part of a larger trend towards migrating traditional equities onto public blockchains. Dinari, for example, recently secured broker-dealer registration for a subsidiary, paving the way for distributing its tokenized "dShares" to US brokerages after SEC approval. They already offer blockchain-recorded shares to international clients via Coinbase's Base network and intend to settle future transactions on a public chain while directing orders through registered exchanges. Furthermore, Kraken has introduced a 24/7 platform for tokenized US stocks, and Coinbase has applied for regulatory clearance to engage in similar activities. This demonstrates a significant industry-wide push towards tokenized securities.
