Catenaa, Sunday, July 13, 2025-Robinhood faces an EU regulatory probe over its blockchain-based “Stock Tokens” after OpenAI publicly disavowed any connection with the crypto investment product launched June 30.
The Bank of Lithuania is investigating whether the tokenized assets comply with European financial rules amid concerns the tokens mislead retail investors by implying ownership of real equity in companies like OpenAI and SpaceX.
“We have contacted Robinhood and await clarifications regarding the structure of OpenAI and SpaceX stock tokens and related consumer communications,” said Giedrius Šniukas, spokesperson for the Bank of Lithuania.
The regulator stressed investor information must be clear and non-misleading before legality can be assessed.
OpenAI’s official statement on July 1 said it did not partner with Robinhood nor approve any transfer of equity linked to the tokens, warning investors to be cautious.
Elon Musk, co-founder of OpenAI who left in 2018, echoed skepticism, calling the tokenized equity “fake.”
Robinhood’s tokens represent price-tracking contracts on Ethereum’s Arbitrum network, with no voting rights or actual company ownership, and are accessible only to European Union users.
Robinhood’s stock surged nearly 13% following the token launch but has since cooled, trading around $93. Critics say the tokens’ centralized control, illiquidity, and opaque structure risk confusing investors and could attract SEC scrutiny in the US Some defenders argue the tokens democratize access to private market valuations.
Robinhood’s crypto business has driven significant growth, boosting Q1 revenue by 50%, supported by acquisitions including Bitstamp and WonderFi.
