OpenAI Denies Robinhood’s Tokenized Shares – Elon Musk Weighs In: Crypto Drama Unfolds

OpenAI just dropped a bombshell—Robinhood’s tokenized shares got the cold shoulder. No warning, no sugarcoating. Cue the market chaos.

Elon Musk couldn’t resist chiming in. Because of course he did. His tweet? A cryptic shrug tossed into the crypto-sphere.

What’s really going on? Wall Street’s latest ‘innovation’ meets Silicon Valley’s skepticism. Tokenization was supposed to be finance’s holy grail—until someone remembered this industry loves overpromising.

Meanwhile, traders are left holding synthetic bags, wondering if decentralization was just a buzzword all along. Classic.

“Your Equity is Fake”: Elon Musk

In response, Elon Musk, who co-founded OpenAI and currently leads SpaceX, amplified OpenAI’s denial with a blunt post of his own.

“Your ‘equity’ is fake,” Musk wrote on X. His remark echoed his long-standing criticism of OpenAI’s shift from a nonprofit to a profit-driven model.

However, his comment focused on OpenAI’s internal structure. He did not address the SpaceX tokens that were also part of the promotion.

Robinhood, for its part, defended the offering. CEO Vlad Tenev acknowledged that the tokens were not technically equity but argued they give retail users a rare opportunity to gain exposure to private tech giants.

“Our giveaway plants a seed for something much bigger,” he wrote, adding that the company has heard from many private firms interested in joining what he called a “tokenization revolution.”

At our recent crypto event, we announced a limited Stock Token giveaway on OpenAI and SpaceX to eligible European customers. While it is true that they aren’t technically “equity” (you can see the precise dynamics in our Terms for those interested), the tokens effectively give…

Robinhood Says Tokens Offer Access, Not Equity, as Debate Over Legitimacy Grows

According to the company, the assets are issued through a special purpose vehicle. They are then offered via Robinhood’s crypto platform.

In addition, the company is using the EU’s more relaxed rules on investor participation to enable the launch.

Further, Robinhood has stated that these tokens are designed to offer indirect exposure to private companies. This approach aims to expand access for individual investors who are typically excluded from traditional venture capital markets.

Supporters online echoed that view. One user posted that the critics were “missing the forest for the trees. According to the post, access matters more than legal precision for everyday investors. In response, Tenev replied with a single word: “precisely.”

Still, the episode shows ongoing tensions in the crypto space.

On one side are platforms eager to democratize access to financial markets. On the other are companies whose brand and equity are being represented on-chain without formal partnerships.

Additionally, regulatory barriers prevent US users from accessing these tokens.