Robinhood CEO: OpenAI and SpaceX tokenized stocks are derivatives, not equity

CoinRank News: Robinhood CEO Vlad Tenev said, The promotion of tokenized stocks is the seed of a larger vision. These tokens are not technically equivalent to stocks, but they still allow retail investors to track changes in company valuations. Users can see the specific mechanism in our terms. The brokerages official website also clearly pointed out that these stock tokens are not real company equity, but a blockchain-based derivative contract whose price tracks the market value changes of real stocks. As previously reported, OpenAI officially issued a statement denying that it authorized Robinhood to launch related tokenized stocks. The so-called OpenAI token is not the companys equity, nor has it established any partnership with Robinhood or participated in endorsement-related projects. OpenAI emphasized that any transfer involving the companys equity must be officially approved, and the company has not yet approved any such transactions, and called on the public to remain vigilant. (The Block)