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OpenAI Casts Doubt on Robinhood’s New Tokenized Equity Products
Robinhood Markets Inc. shares fell after OpenAI advised caution to customers taking advantage of the brokerage’s offer for access to equity “tokens” for the closely held company led by Sam Altman.Most Read from BloombergNYC Commutes Resume After Midtown Bus Terminal Crash ChaosStruggling Downtowns Are Looking to Lure New CrowdsMassachusetts to Follow NYC in Making Landlords Pay Broker FeesForeign Buyers Swoop on Cape Town Homes,
Robinhood shares fell nearly 6% after OpenAI denied any involvement in the trading platform’s new tokenized shares offering ...
CEO Vlad Tenev made a public announcement that the company was developing a blockchain called the Robinhood Chain.
Stock investors have been bullish on Robinhood's push into tokenization and other new product offerings.
The stock tokens give E.U. investors exposure to hundreds of U.S. stocks, as well as to private companies SpaceX and OpenAI.
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