OpenAI Denies Involvement In Robinhood’s Token Giveaway

Key Takeaways

• OpenAI disavows tokens distributed by Robinhood, clarifying that they do not represent actual equity.

• Robinhood launched the tokens in the EU as part of a broader push into RWA tokenization via a new layer-2 blockchain.

• Elon Musk criticized the token offering, labeling the tokens “fake equity.”

• Robinhood aims to democratize access to private market assets by enabling fractional investments.

Clarification From OpenAI On Token Misrepresentation

The statement was made following Robinhood’s decision to distribute $5 worth of OpenAI and SpaceX tokens to eligible customers in the European Union.

Source: X (@OpenAINewsroom)

This clarification addresses growing confusion around the legitimacy and ownership structure of the tokens being distributed.

Robinhood’s Tokenized Giveaway

On Monday, Robinhood launched a campaign aimed at expanding its footprint in the tokenized asset space. As part of this initiative, the trading platform distributed tokens labeled “OpenAI” and “SpaceX” to EU-based users.

The move was in line with Robinhood’s broader vision of making real-world asset (RWA) tokenization more accessible to retail investors.

Robinhood’s Statement

Robinhood clarified that these tokens were:

“Available only to eligible European customers and are enabled by Robinhood’s ownership stake in a special purpose vehicle (SPV).”

These SPVs are designed to provide indirect exposure to private market assets, essentially allowing retail investors to engage with asset classes traditionally limited to accredited investors.

Elon Musk Weighs In

Elon Musk, co-founder of both SpaceX and OpenAI, responded with skepticism and criticism. On X, Musk posted:

“Your ‘equity’ is fake.”

This comment aligns with Musk’s ongoing critiques of OpenAI’s shift from its nonprofit roots to a more commercially-driven structure. Since stepping down from OpenAI’s board in 2018, Musk has repeatedly expressed concern about the organization’s direction and has taken legal action over what he alleges are breaches of its founding principles.

Robinhood’s Larger Vision

The Cannes Announcement

The company made headlines earlier in the week by announcing the official launch of its layer-2 blockchain network and a broader initiative around tokenized real-world asset (RWA) trading at an event in Cannes, France.

Robinhood CEO Vlad Tenev stated:

“Crypto is much more than a speculative asset. It has the potential to become the backbone of the global financial system.”

 

Driving Financial Inclusion Through Tokenization

Speaking at Consensus 2025 in Toronto, Johann Kerbrat, Robinhood’s General Manager of Crypto, explained that the new offerings aim to democratize access to traditionally exclusive investment opportunities such as private equity, commercial real estate, and private credit.

Johann Kerbrat Speaking At Consensus 2025

Source: Cointelegraph

These types of investments are generally limited to accredited investors, those who meet strict income or asset requirements under EU and U.S. regulatory frameworks. By using blockchain and fractional ownership models, Robinhood seeks to break down these barriers.

FAQ

Are OpenAI tokens distributed by Robinhood real equity?

No. OpenAI has publicly stated that it does not endorse these tokens and has not approved any transfer of equity.

What is RWA tokenization?

RWA (Real-World Asset) tokenization refers to converting physical or traditional financial assets into digital tokens on a blockchain, allowing fractional and broader access.

Can U.S. users access Robinhood’s tokenized offerings?

Currently, the tokenized equity offerings are restricted to eligible customers in the European Union. No U.S. rollout date has been announced.

What does Elon Musk’s criticism mean?

Musk’s comments highlight ongoing concerns over OpenAI’s governance and deviation from its original nonprofit mission.