OpenAI issued a press release on Wednesday clarifying that OpenAI tokens distributed to European Union customers by the buying and selling platform Robinhood don’t signify fairness within the firm.
“We’re not concerned on this and don’t endorse it,” representatives of the corporate wrote on social media. “Any switch of OpenAI fairness requires our approval — we didn’t approve any switch. Please watch out.”
Robinhood distributed $5 price of OpenAI and SpaceX tokens to shoppers within the EU area on Monday as a part of the corporate’s push into tokenized stock trading, which included launching a layer-2 blockchain community to settle tokenized fairness trades.
In a press release to Cointelegraph, representatives for Robinhood stated the token giveaways had been restricted to “eligible European prospects.”
“These tokens give retail buyers oblique publicity to personal markets, opening up entry, and are enabled by Robinhood’s possession stake in a particular goal automobile.”
SpaceX and OpenAI co-founder Elon Musk took the chance to criticize OpenAI’s company construction. “Your ‘fairness’ is pretend,” Musk stated in a X post.
Musk left OpenAI’s board in 2018 and has since been outspoken about what he sees as a departure from the nonprofit, mission-driven mannequin towards a profit-first mannequin. He has filed lawsuits accusing OpenAI of breaching its constitution and diverting charitable property for personal achieve.
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Robinhood broadcasts tokenized real-world asset buying and selling
Robinhood first tipped plans to introduce tokenized stock trading for European prospects in Could 2025. No date or timeline has been given for a US rollout.
Talking at Consensus 2025 in Toronto, Canada, senior vice chairman and normal supervisor of Robinhood Crypto Johann Kerbrat stated that the combination of tokenized real-world assets on the platform promotes financial inclusion.
The corporate’s foray into tokenized equities comes amid a broader effort by crypto exchanges to integrate tokenized stocks, authorities securities, company bonds and different conventional property into their platforms, blurring the road between conventional and digital finance.
Robinhood argues that tokenization opens up beforehand inaccessible asset courses like personal fairness, personal credit score, and industrial actual property investing to most people by means of the magic of asset fractionalization.
Personal fairness and personal credit score are sometimes reserved for accredited buyers which have $1 million or extra in investible property or meet the annual revenue and licensing requirements of accreditation beneath EU and US rules, making them prohibitive to common retail buyers.
The corporate introduced the rollout of its layer-2 blockchain community and tokenized real-world asset buying and selling through the firm’s event in Cannes, France on Monday.
“Crypto is rather more than a speculative asset, it has the potential to change into the spine of the worldwide monetary system,” CEO and co-founder Vlad Tenev stated.
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