Robinhood’s stock hit record highs with its crypto token launch, but shares slid after OpenAI denied involvement, warning the tokens aren’t legitimate equity.

Robinhood's tokenized equity launch sparks market excitement and legal backlash as OpenAI denies any connection to the offering.

Key Takeaways ChatGPT maker OpenAI distanced itself from the "stock token" project Robinhood announced earlier this week.OpenAI said tokenized versions of its stock are not official equity in the private company.