OpenAI Disavows Robinhood’s Tokenized Shares, Elon Musk Chimes In – What’s Going On?

Key Points

1. OpenAI issued a statement rejecting any association with Robinhood's 'OpenAI token' campaign, clarifying that the tokens are not equity.

2. Elon Musk, co-founder of OpenAI, called OpenAI's equity 'fake' in a post on X, echoing his criticism of the company's shift to a profit-driven model.

3. Robinhood defended its token offering, with CEO Vlad Tenev stating the tokens provide access rather than equity, and highlighted the promotion's limited nature in Europe.

4. Robinhood's announcement of the token giveaway contributed to a surge in its stock price, reaching an all-time high above $100.

5. The debate centers on the legitimacy of tokenized assets as a means of accessing equity, with Robinhood leveraging relaxed EU crypto regulations.