Stock tokens=on chain derivatives Robinhood officially launched its new product, the stock token, at a crypto event in Cannes and stated that eligible European users will receive OpenAI and SpaceX stock tokens, which are minted on the Arbitrarum blockchain. This product has caught the attention of OpenAI, who has questioned Robinhood's practice of allowing European users to obtain its private equity tokens. Tenev subsequently responded to OpenAI's questioning on X, stating that this move is "a seed that nurtures greater change" and mentioning that many unlisted companies are actively contacting them to participate in this "tokenization revolution". He emphasized that these tokens are not actually company stocks, but rather on chain derivative contracts that track real stock prices. Robinhood's official website also clearly states that these "stock tokens" do not represent shareholder equity, but rather serve as on chain derivatives used to track changes in the company's valuation. Robinhood also plans to expand this tokenized product to over 200 tokens representing shares of US listed companies and other unlisted companies. However, the day after the announcement, OpenAI issued a statement stating that they did not authorize or support the issuance of this tokenized stock. OpenAI also reminds investors to carefully review official company documents before purchasing these tokens.