Robinhood tokens providing fairness in OpenAI technically aren’t fairness, Vlad Tenev confirmed in a current CNBC interview, however are backed by “Robinhood’s possession stake in a particular function automobile.”
OpenAI warned earlier this month that the tokens being supplied by Robinhood don’t signify fairness within the firm, and any switch of fairness would require OpenAI’s approval which they have not given.
“In and of itself, I do not assume it is fully related that it isn’t technically an fairness instrument,” Tenev stated on CNBC. “What’s essential is that retail clients have a chance to get publicity to this asset.”
Robinhood is not the primary platform to supply shares in pre-IPO firms with this mannequin.
Linqto, which supplied retail traders publicity by way of particular function autos that purchased up shares on the secondary market, just lately filed for chapter, elevating questions on what precisely its clients, now collectors, owned.
Among the many firms is Ripple (XRP), and its CEO, Brad Garlinghouse, has publicly distanced Ripple from Linqto.
“We stopped approving extra Linqto purchases on secondary markets in late 2024 amid rising skepticism,” Garlinghouse tweeted earlier in July.
Learn extra: OpenAI Warns That Tokenized Fairness Sale on Robinhood Is Unauthorized
