From Ledger Insights, July 8:
Robinhood last week launched tokenized stock offerings to European retail investors, making more than 200 US listed companies available for trading. The platform also provided $1.5 million in token giveaways for unlisted companies OpenAI ($1 million) and SpaceX ($500,000), with trading available 24/5 including weekdays outside Nasdaq hours.
OpenAI quickly distanced itself from the offering. “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,” the company posted on X.
The tokens are technically derivatives rather than actual stocks, though Robinhood says it holds the underlying securities in custody in the United States. While OpenAI and SpaceX are privately held, secondary market platforms like Forge allow accredited investors to trade their shares. Robinhood CEO Vlad Tenev has promoted tokenization as giving retail investors access to AI stocks that would otherwise be unavailable to them.
Following OpenAI’s statement, Tenev responded that other private companies have approached Robinhood about offering similar tokens.
Regulatory questions emerge...
....MUCH MORE
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