The mania for tokenized actions creates a fight between Robinhood and Openia

The Robinhood financial platform launched tokenized actions on June 30 that track the valuation of the Chatgpt, OpenAI creator company, presenting them as a digital representation of its assets. However, from OpenAi They have denied that these tokens represent their actionsstating that he did not authorize or participate in the initiative.

On July 2, the OpenAI team issued an official statement through its X account:

“These ‘Openai tokens’ are not OpenAi actions. We have not established an alliance with Robinhood, we were not involved in this and we did not support it. Any opening action transfer requires our approval, and we do not approve of any transfer. Please be careful.”

OpenAI, artificial intelligence company.

This statement underlines Openai’s position, which seeks to protect its corporate structure and avoid misunderstandings among investors.

On the other hand, Robinhood defended his movement in an announcement of the same day:

“To close our recent cryptocurrency event, we announce a limited delivery of shares on OpenAi and Spacex for eligible European clients. These tokens offer retail investors an indirect exposure to private markets, opening access, and are enabled by Robinhood’s shareholding in a special purpose vehicle.”

Robinhouse cryptocurrency exchange.

Tokenization consists in representing the property or value of an asset (such as shares, real estate or, in this case, the assessment of a private company) by digital tokens in a cryptocurrency network.

These tokens can be negotiated As if they were financial assetsbut their value depends on the structure that supports them. In the case of Robinhood, Openai tokens They are not direct actions of the companybut alleged derived from the participation that Robinhood has in that entity.

This explains why Openai rejects its link, since real equity (that is, the shareholding) remains under its exclusive control.

In that sense, Vlad Tenev, CEO of Robinhood, hours later of Openai statement, clarified that, although these tokens “They are not technically an action”They offer retail investors an effective exposure to these private assets.

Tenev said that this action feels the foundations for something much bigger, revealing that, after the announcement, numerous private companies have shown interest in joining the tokenization revolution. Openai, as a company, is not listed in a traditional stock exchange, as would be the 200 public companies that Robinhood also Tokeniza.

Private markets are those where shares or participation transactions are carried out in a restricted manner, generally between institutional or accredited investors, and are not open to the general public.

In this case, Robinhood bases his Openai tokens on his own participation in a special purpose vehicle (SPV), which It derives from an estimated OpenAI assessment in this private spherenot an official public contribution.

The lack of approval of OpenAI It could lead to questions about the transparency and viability of these instruments in a global market that still regulates this type of innovations.