Altcoin Founder and Elon Musk Warns About These New Tokens: Your Stocks Are Fake! - Coin Bulletin

OpenAI announced that it has no association with the “OpenAI Tokens” launched by Robinhood and that these tokens do not represent company shares.

Worldcoin (WLD) founder Sam Altman’s company OpenAI reacted to the tokenized private company shares offered to European Union users by Robinhood. In a statement made from the platform’s social media account, it was stated that the “OpenAI Tokens” have no relation to the company’s stocks, there is no partnership with Robinhood, and these tokens have not been approved. The company clearly emphasized that its own approval is required for the transfer of shares and that no approval has been granted in this case.

Robinhood CEO Vlad Tenev recently announced that they have started offering tokenized products based on the shares of over 200 private companies, including OpenAI and SpaceX, to their users in the European Union. Although tokenized shares do not provide investors with actual shareholder rights in the company, they are traded as a derivative product that tracks the prices of the company’s shares.

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A statement has come from Elon Musk

Following OpenAI’s response, Elon Musk also did not remain indifferent to the situation. Musk shared a short but clear message criticizing the tokens: “Your ‘stocks’ are fake.” Thus, Musk clearly expressed that he does not endorse these products offered by Robinhood.

Robinhood is not alone in tokenizing private company shares. Previously, the Republic platform announced that it would also tokenize shares of private AI companies like OpenAI and Anthropic, making them accessible to retail investors. However, it is emphasized that these products do not provide investors with shareholder rights; they only track the company’s value.