OpenAI Slams Robinhood’s “Fake Equity” Tokens

OpenAI has publicly rejected Robinhood’s claim of offering exposure to its equity via blockchain tokens, warning investors the product is unauthorized and misleading.

In a growing dispute between tech and finance, OpenAI has strongly opposed Robinhood’s release of so-called “OpenAI tokens” to users in the European Union. The AI company made it clear that these tokens are not tied to any real ownership or equity in OpenAI. “These tokens are not OpenAI equity. We did not approve or endorse this,” the company posted on social media, urging users to stay cautious.

Robinhood had promoted the tokens as a way for regular investors to access previously closed-off private markets. The firm explained that these tokens are based on contracts linked to its ownership in a special purpose vehicle (SPV), which holds shares in companies like OpenAI and SpaceX. However, investors are at least two steps removed from actual equity, with tokens reflecting only a derived value.

Criticism quickly followed. Elon Musk, a co-founder of OpenAI and SpaceX, called the claims “fake,” while industry experts pointed out the legal and ethical gray areas of selling synthetic exposure to private assets. Other startups, like Figure AI, have taken legal action to block similar unauthorized token sales.

Robinhood defends the move as financial innovation, arguing that tokenization can open access to private markets. But for now, many remain skeptical, especially as leading firms like OpenAI distance themselves from such offerings.