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 goal automobile.”
OpenAI warned earlier this month that the tokens being provided by Robinhood don’t characterize 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 suppose it is totally related that it isn’t technically an fairness instrument,” Tenev mentioned on CNBC. “What’s essential is that retail clients have a possibility to get publicity to this asset.”
Robinhood is not the primary platform to supply shares in pre-IPO corporations with this mannequin.
Linqto, which provided retail buyers publicity by way of particular goal automobiles 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 corporations 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