Robinhood CEO: OpenAI and SpaceX's "stock tokens" are derivatives, not equity

Robinhood chief executive Vlad Tenev has responded to OpenAI's questions by stressing that its OpenAI and SpaceX "stock tokens" for European users are not real equity, but blockchain-based derivatives contracts. These tokens are issued on the Arbitrum chain and track the share price of the underlying company, but investors do not enjoy shareholders' equity. OpenAI has previously stated that it does not license any tokenized stock products, reminding investors to check official documents carefully.