OpenAI has issued a clear warning to consumers regarding Robinhood’s recent launch of “OpenAI tokens,” emphasizing that these tokens do not represent any form of equity or stock ownership in the company. In a statement posted on its official newsroom account on X (formerly Twitter), OpenAI stated, “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.”
This announcement follows Robinhood’s move earlier this week to offer tokenized shares of private companies—including OpenAI and SpaceX—to investors in the European Union. According to Robinhood, the initiative aims to provide ordinary consumers with indirect exposure to some of the world’s most valuable private firms through blockchain-based tokens.
However, OpenAI quickly distanced itself from the effort, stressing that no official partnership or equity transfer had occurred. Because companies like OpenAI and SpaceX are private, their shares are typically sold only to selected investors, not the general public. OpenAI’s public disavowal highlights the risks of confusion in secondary and tokenized investment offerings.
In response to OpenAI’s statement, Robinhood spokesperson Rouky Diallo told TechCrunch that the tokens were part of a “limited” giveaway intended to provide indirect exposure through Robinhood’s interest in a special purpose vehicle (SPV) that holds OpenAI shares. An SPV is a legal entity that can hold shares in a company, but owning part of an SPV does not equate to owning actual shares in that company.
Robinhood’s help center explains that its stock tokens represent “tokenized contracts that follow [stock] prices, recorded on a blockchain,” not the stocks themselves.
Robinhood CEO Vlad Tenev defended the move, posting on X, “While it is true that they aren’t technically ‘equity,’ […] the tokens effectively give retail investors exposure to these private assets. Our giveaway plants a seed for something much bigger.”
OpenAI declined further comment, while Robinhood has not responded to additional questions from TechCrunch. The situation highlights ongoing tensions between private firms and financial platforms offering retail access to otherwise restricted assets.
