Robinhood CEO VLAD Tenev says that it is not “completely relevant” that the so -called technical shares of the trading platform in companies are not technically speaking.
After Openai has expressed concerns about the product that users in the European Union in various US shares – including private companies that are less liquidated than publicly listed companies, are to receive.
Openaai warned last week that Robinhood's shares did not represent equity in the company, and said in a post to X: “Every transfer of Openai's own capital requires our approval -we have not approved any transfer.”
According to Robinhood, his Openai Stock -Token -Token is “enabled by Robinhood's ownership participation in a special purpose”.
“It is true that this is technically not an equity,” said Tenev, who was Robinhood in 2013 with the entrepreneur Baiju Bhatt co -colleague, repeated CNBC's “Squawk Box Europe” on Tuesday and his first reaction to Openais.
Tenev said that the complex corporate structure of Openai enables institutional investors to gain the company through “various instruments such as equity after a conversion to a winner”.
Openaai was initially founded as a non -profit organization. In the meantime, however, it has developed into a profit -oriented unit that belongs to the non -profit company.
“In and of themselves, I don't think that it is completely relevant that it is technically not an equity instrument,” he said. “What is important is that retail customers have the opportunity to expose this asset” – even if it is a private company – he added.
On Monday, the Bank of Lithuania, which is the main authority of Robinhood in the European Union, informed CNBC that after Openaai declaration, it was waiting “clarifications” in relation to the structure of the company's shares in the past week.
“Only after we have received and evaluated this information can we evaluate the legality and compliance with these specific instruments,” the spokesman for the Bank of Lithuania, Giedrius Šniukas, told CNBC. “The information for investors must be provided in a clear, fair and non -mislassing language.”
In response to the comments from the Lithuanian supervisory authority, Tenev said that Robinhood “would be happy to answer questions from our supervisory authorities”.
“Since this is a new thing, the supervisory authorities will want to look at it, and we have built this program in a way that we believe that it will withstand the exam – and we expect to check as a big, innovative player in this area,” he told CNBC.
