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Robinhood CEO: Tokenized Stocks of OpenAI and SpaceX Are Derivatives, Not Equity
BlockBeats News, July 3rd, according to The Block, Robinhood CEO Vlad Tenev stated, "The promotion of tokenized stocks is a seed of a larger vision, these tokens are not technically equivalent to stocks, but still allow retail investors to track changes in company valuation. Users can see the specific mechanism in our terms."
The brokerage's official website also clearly states that these "stock tokens" are not actual company shares, but rather a blockchain-based derivative contract whose price tracks the real stock's market value.
Previously reported, OpenAI officially released a statement denying authorization for Robinhood to launch related tokenized stocks. The so-called "OpenAI Token" does not represent company equity, nor has it established any partnership with Robinhood or endorsed any related projects. OpenAI emphasized that any transfer involving company equity must receive official approval, and the company has not approved any such transactions to date, urging the public to remain vigilant.
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