Robinhood Markets Inc. (NASDAQ:HOOD) CEO Vlad Tenev clarified the nature of the company’s OpenAI token giveaway on Wednesday amid growing controversy about the nature of the equities.
What Happened: In an X post, Tenev talked about Robinhood’s recent crypto event, where it announced a limited “stock token” giveaway on OpenAI and SpaceX for eligible European customers.
“While it is true that they aren’t technically ‘equity’… the tokens effectively give retail investors exposure to these private assets,” Tenev stated.
He further added that the giveaway is a precursor to “something much bigger” and that many private companies have expressed interest in joining the “tokenization revolution” since the announcement.
At our recent crypto event, we announced a limited Stock Token giveaway on OpenAI and SpaceX to eligible European customers. While it is true that they aren’t technically “equity” (you can see the precise dynamics in …Full story available on Benzinga.com
