9 hours ago
Vlad Tenev told CNBC that these tokens are technically not equity, but supply akin exposure.
Jul 9, 2025, 5:36 a.m.
Robinhood tokens offering equity successful OpenAI technically aren't equity, Vlad Tenev confirmed successful a caller CNBC interview, but are backed by "Robinhood's ownership involvement successful a peculiar intent vehicle."
OpenAI warned earlier this month that the tokens being offered by Robinhood bash not correspond equity successful the company, and immoderate transportation of equity would necessitate OpenAI's support which they haven't given.
"In and of itself, I don't deliberation it's wholly applicable that it's not technically an equity instrument," Tenev said connected CNBC. "What's important is that retail customers person an accidental to get vulnerability to this asset."
Robinhood isn't the archetypal level to connection shares successful pre-IPO companies with this model.
Linqto, which offered retail investors vulnerability via peculiar intent vehicles that bought up shares connected the secondary market, recently filed for bankruptcy, raising questions astir what precisely its customers, present creditors, owned.
Among the companies is Ripple (XRP), and its CEO, Brad Garlinghouse, has publically distanced Ripple from Linqto.
"We stopped approving much Linqto purchases connected secondary markets successful precocious 2024 amid increasing skepticism," Garlinghouse tweeted earlier successful July.
Read more: OpenAI Warns That Tokenized Equity Sale connected Robinhood Is Unauthorized
Sam Reynolds
Sam Reynolds is simply a elder newsman based successful Asia. Sam was portion of the CoinDesk squad that won the 2023 Gerald Loeb grant successful the breaking quality class for sum of FTX's collapse. Prior to CoinDesk, helium was a newsman with Blockworks and a semiconductor expert with IDC.
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