OpenAI condemns Robinhood's 'OpenAI tokens' | TechCrunch https://t.co/gOUbDBdlaU ...

Core Viewpoint - OpenAI has clarified that the "OpenAI tokens" offered by Robinhood are not actual equity of OpenAI and that there is no partnership or involvement between the two companies regarding this product [1][2]. Group 1: OpenAI's Position - OpenAI stated that any transfer of its equity requires company approval, which was not granted in the case of the tokens offered by Robinhood [1][2]. - The company advised users to exercise caution regarding the tokens, emphasizing that they do not endorse or support the product [2]. Group 2: Robinhood's Initiative - Robinhood announced the launch of tokenized shares as part of a broader initiative involving tokenized equities, staking, and blockchain infrastructure [3]. - A spokesperson from Robinhood mentioned that these tokens provide retail investors with indirect exposure to private markets, facilitated by Robinhood's ownership stake in a special purpose vehicle [3]. Group 3: Market Reactions - Following the announcement of the tokenized shares, Robinhood's stock reached a new all-time high, reflecting positive market sentiment [4]. - KeyBanc Capital Markets raised its price target for Robinhood's stock from $60 to $110, citing innovation and total addressable market (TAM) expansion as key drivers for the upgrade [5]. - Despite the positive outlook, Robinhood shares experienced a slight decline of 1.71% to $96.30 in extended trading on Wednesday [5].

Group 1 - OpenAI has distanced itself from Robinhood's offering of tokenized shares, clarifying that these "OpenAI tokens" are not actual equity and that they did not partner with Robinhood [1] - OpenAI emphasized that any transfer of its equity requires approval from the company, which was not granted in this case, and advised users to exercise caution [1] - Robinhood launched the tokenized shares as part of a broader product showcase, which contributed to a surge in its stock price, reaching an all-time high above $100 [1] Group 2 - A Robinhood spokesperson stated that the tokens provide retail investors with indirect exposure to private markets, facilitated by Robinhood's ownership in a special purpose vehicle [2]

Equity & Partnership - OpenAI tokens are not OpenAI equity [1] - OpenAI did not partner with Robinhood [1] - OpenAI was not involved in the token offering [1] - OpenAI does not endorse the token [1] - Any transfer of OpenAI equity requires OpenAI's approval [1] - OpenAI did not approve any transfer of equity [1] Risk Alert - Public should be careful regarding the tokens [1]

Alternative Investments & Regulatory Landscape - Republic (excluding Robinhood) offers instruments mimicking the price of companies like SpaceX, explicitly stating no affiliation with the underlying company [1] - These instruments function as notes for future upside, contingent on a liquidity event [1] - The backing of these instruments is unclear, potentially involving the issuing company purchasing shares or the dollar equivalent [1] - This practice leverages an SEC crowdfunding exemption, allowing private companies to raise up to $5 million in securities from retail investors [1] Tokenized Securities & Disclaimers - "OpenAI tokens" are not OpenAI equity, and OpenAI has not partnered with Robinhood or endorsed them [1] - Any transfer of OpenAI equity requires OpenAI's approval, which has not been granted [1] - The industry advises caution regarding these types of investments [2]

Bullish robinhood for creating a OpenAI memecoin. Directly on RobinhoodOpenAI Newsroom (@OpenAINewsroom):These “OpenAI tokens” are not OpenAI equity. 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. ...