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3 months ago
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Efforts to tokenize pre-IPO stocks, like what Robinhood is doing with OpenAI, may help unlock liquidity in private markets, but the structure likely qualifies as a security, carries bankruptcy risk and could spark lawsuits over shareholder agreement breaches.
By
Sam Reynolds|Edited by Nikhilesh De
Updated Jul 11, 2025, 3:59 a.m. Published Jul 11, 2025, 3:14 a.m.
