OpenAI says Robinhood tokens are not equity in the company

The platform's OpenAI private equity tokens were disavowed by the company and co-founder, Elon Musk, who called them "fake."

OpenAI issued a statement on Wednesday clarifying that OpenAI tokens distributed to European Union users by the trading platform Robinhood do not represent equity in the company.

"We are not involved in this and do not endorse it,” representatives of the company wrote on social media. “Any transfer of OpenAI equity requires our approval — we did not approve any transfer. Please be careful."

Robinhood distributed $5 worth of OpenAI and SpaceX tokens to clients in the EU region on Monday as part of the company's push into tokenized stock trading, which included launching a layer-2 blockchain network to settle tokenized equity trades.

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