OpenAI Denies Endorsing Robinhood’s Token Giveaway

OpenAI has publicly distanced itself from Robinhood’s recent campaign involving “OpenAI tokens,” asserting that it did not authorize or participate in the promotion. The AI company issued a statement on X, clarifying that the tokens offered by Robinhood are not actual OpenAI equity and that the company did not endorse or approve any transfer of its equity. This statement came in response to Robinhood’s announcement of a giveaway of 5 euros worth of OpenAI and SpaceX tokens to eligible users in the European Union who register to trade its newly introduced stock tokens by July 7. The giveaway was part of a broader product rollout in Cannes, France, focused on tokenized equities and blockchain infrastructure.

Elon Musk, who co-founded OpenAI and currently leads SpaceX, amplified OpenAI’s denial with a blunt post on X. Musk wrote, “Your ‘equity’ is fake,” echoing his long-standing criticism of OpenAI’s shift from a nonprofit to a profit-driven model. However, his comment focused on OpenAI’s internal structure and did not address the SpaceX tokens that were also part of the promotion. Robinhood, for its part, defended the offering, with CEO Vlad Tenev acknowledging that the tokens were not technically equity but arguing they give retail users a rare opportunity to gain exposure to private tech giants. Tenev stated that the giveaway plants a seed for something much bigger, adding that the company has heard from many private firms interested in joining what he called a “tokenization revolution.”

According to Robinhood, the assets are issued through a special purpose vehicle and then offered via Robinhood’s crypto platform. The company is using the EU’s more relaxed rules on investor participation to enable the launch. These tokens are designed to offer indirect exposure to private companies, aiming to expand access for individual investors who are typically excluded from traditional venture capital markets. Supporters online echoed that view, with one user posting that the critics were “missing the forest for the trees,” emphasizing that access matters more than legal precision for everyday investors. In response, Tenev replied with a single word: “precisely.”

However, the episode highlights ongoing tensions in the crypto space. On one side are platforms eager to democratize access to financial markets, and on the other are companies whose brand and equity are being represented on-chain without formal partnerships. Additionally, regulatory barriers prevent users in the United States from accessing these tokens. The debate over the legitimacy of such tokenized assets continues, with critics questioning the authenticity and regulatory compliance of these offerings. The situation underscores the need for clearer guidelines and regulations in the rapidly evolving world of digital assets and tokenized equities.