OpenAI to Robinhood: That’s not our inventory, bro
AI large OpenAI has taken to X to remind an excited crypto group that Robinhood’s much-hyped “stock tokens” don’t signify fairness within the enterprise.
The put up clarifies that Robinhood isn’t working in partnership with OpenAI, and the tokens aren’t endorsed, insisting that “we did not approve any transfer” of fairness.
These “OpenAI tokens” aren’t OpenAI fairness. We didn’t companion with Robinhood, weren’t concerned on this, and don’t endorse it. Any switch of OpenAI fairness requires our approval—we didn’t approve any switch. Please watch out.
— OpenAI Newsroom (@OpenAINewsroom) July 2, 2025
Learn extra: Robinhood needs US newborns larping into shares
Introduced on the Ethereum Neighborhood Convention in Cannes this week, “stock tokens” give customers entry to tokenized variations of well-known shares, in addition to “shares” in non-public corporations, OpenAI and SpaceX.
The tokens are presently deployed on Ethereum L2 Arbitrum, although Robinhood has plans to launch its personal purpose-built blockchain sooner or later.
Trying into the on-chain roll-out of the tokens, Coinbase’s Conor Grogan noticed the deployer’s credentials as a real crypto-native degen.
The Robinhood pockets that transferred the OpenAI tokens was funded by somebody who misplaced $15k on Hyperliquid and minted a "Desperate Ape Wife" NFT for $500 in 2021 pic.twitter.com/sdIHwNz6PQ
— Conor (@jconorgrogan) July 1, 2025
Learn extra: Unique: Coinbase’s Conor Grogan on how he’s reuniting customers with misplaced crypto
Tom Schmidt, of crypto-focused enterprise fund Dragonfly, dug into the small print behind the tokens, mentioning that it’s “pretty clear that you’re buying a *derivative* that is *not* redeemable for the underlying and not backed 1:1”.
He additionally shot down comparisons to special-purpose automobiles in conventional finance, saying, “SPVs at least own the stock lol.”
Crypto Twitter’s response was sometimes tongue-in-cheek
Robinhood’s providing was likened by one X consumer to a scene from the movie The Massive Brief, during which Steve Carell’s character wrangles his approach by means of an evidence of collateralized debt obligations (CDOs).
In a reply to their very own put up, they seem to argue for simplicity in crypto, stating “fartcoin fixes this.”
"we're selling shares of private companies that don't actually represent any real equity or ownership to retail investors…they don't know the difference" pic.twitter.com/805AAWjxW8
— Dip Wheeler (@DipWheeler) July 3, 2025
Learn extra: Polymarket suitgate: Zelenskyy’s NATO look divides crypto bettors
The legitimacy of the providing was put below even additional scrutiny by way of a sartorial evaluation of Robinhood’s CEO, Vlad Tenev, with one consumer commenting that the mix of “pinstripe and the ascot [was] giving ’80s cocaine villain vibes.”
It seems that suit-related controversies are crypto’s sizzling matter this week.
Not desirous to go up a chance to get in a dig at OpenAI, Elon Musk replied, “your ‘equity’ is fake,” doubtless referencing their feud over the corporate’s flip-flopping on its standing as a non- or for-profit firm.
Musk, nonetheless, didn’t touch upon Robinhood’s “stock token” model of his personal firm, SpaceX.
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