EU is scrutinizing Robinhood for offering tokenized equities of OpenAI and SpaceX after OpenAI disavowed any ties to these assets.
The central bank of Lithuania, Robinhood's main regulator in the EU, has requested clarifications regarding the structure of these stock tokens to assess legality and compliance.
OpenAI issued a warning to investors stating that the 'OpenAI tokens' offered by Robinhood are not OpenAI equity and that they did not approve any transfer of their equity.
Robinhood responded that it provided a 'limited Stock Token giveaway' for OpenAI and SpaceX to eligible European customers, allowing retail investors indirect exposure to private markets through tokenized contracts.