Tron users can now trade tokenized shares of popular American companies as xStocks expands after topping $500 million in on-chain trading. https://t.co/VUzoGNURFU ...

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].

Crypto Expansion - Robinhood stock is up nearly 10% following the unveiling of a new crypto expansion [1] - The expansion includes tokenized shares of Open AI and SpaceX for European users [1] - Robinhood is giving out free tokens of both Open AI and SpaceX to all EU customers as part of the launch [1] - This expansion is aimed at turning the app into a global crypto investment platform [1] European Market Initiatives - Robinhood will offer tokenized US stocks and ETFs in Europe [2] - Over 200 assets at launch with 24/5 trading, dividend support and zero commissions or spreads [2] - Robinhood is launching a new layer 2 blockchain built on Arbitrum [2] US Market Initiatives - The company is also expanding into crypto yield for US customers [2]