OpenAI Issues Warning Over Unauthorized Tokenized Equity Sales on Robinhood Platform

OpenAI Denounces Unauthorized Tokenized Stock Listings on Robinhood Europe

OpenAI has publicly denied any involvement in the tokenized equity linked to its stock that recently appeared on Robinhood’s European trading platform, emphasizing that such offerings were never approved by the company.

In a statement, OpenAI clarified: “All transfers of OpenAI equity require our approval. No such approval was given.”

Taking to X (formerly Twitter), OpenAI warned users not to be misled by the so-called “OpenAI tokens,” reiterating that these do not represent actual ownership in the company. “We have no partnership with Robinhood and do not endorse these offerings,” the post read.

The controversy stems from Robinhood’s recent rollout of a tokenized stock trading feature on the Arbitrum blockchain for its European clients. As reported by CoinDesk, the platform is offering exposure to 200 stocks and ETFs, including access to shares in high-profile private firms like OpenAI and SpaceX via a secondary market mechanism.

Robinhood responded by stating that its new tokens offer indirect access to private markets. “As part of our recent crypto expansion, we launched a limited token giveaway tied to OpenAI and SpaceX for eligible European users. These tokens reflect indirect exposure to private companies, made possible through Robinhood’s investment in a special-purpose vehicle,” a spokesperson told CoinDesk.

The idea of fractional, tokenized equity in private companies is not unprecedented. In 2018, blockchain firm Swarm attempted something similar, offering tokens linked to shares in startups like Robinhood. Those companies denied involvement, though Swarm maintained the shares were sourced legally from secondary markets.

It remains unclear how Robinhood is sourcing the equity behind these latest token offerings. CEO comments suggest the tokens may be backed by shares obtained through legitimate secondary sales.

Despite this, legal experts and venture capitalists note that private companies can — and often do — refuse to acknowledge or permit unapproved share transactions.

“This kind of tension could push more private firms to block equity transfers outright when their shareholder agreements are violated,” said Dragonfly general partner Rob Hadick in a post on X.