Distinguished stocks are the following large word. Are they innovation or organizational gap?
At the end of June, the CEO of Robinhood Vlad Tenev stood in front of a reflective group overlooking the Mediterranean Sea, wearing a striking dignified suit that made him look like an encrypted version of Jay Gatsby. Speaking to a crowd from the Cannes Festival, TENEV reached a bag. A metal cylinder withdrew. “I now hold the keys of the first codes ever in Openai,” I declared Teev. “I would like to convey these distinctive symbols to you,” he told the sitting spectators, who are politely waving to survive in the summer heat.
Gambit’s Gambit was the best launch of loud products increasingly in the world of Crypto and Fintech: symbolic stocks, which are traditional shares in Blockchain cover. Supporters argue that through the symbol of shares circulating to the public, such as apple and TimingInvestors will be more easily able to trade and access assets, including outside the United States, Robinhood has taken a bolder step by claiming that they can distinguish stocks in private companies, such as Openai and SpacexWhich are usually available only for the wealthy in the world through investment funds or secondary salaries.
Openai did not take this announcement, and publish it x A few days later that Openai from Robinhood is not an openai equity. “We did not participate with Robinhood, and we did not participate in this, nor do we support it,” the company books. “Please be careful.” Tenev I confess The distinctive symbols of Robinhood Openai are not “technically”, but added that she is still displaying retail investors to private assets. (If you want a more comprehensive explanation on how to actually work, you can Go to the kingLevin died.)
Although Robinhood’s cheerful advertisement was more marketing than anything else, as the product is still limited to the European Union, you can expect to be immersed soon with the discourse about distinctive stocks, which has already permeated the encryption industry for several years. Until recently, any serious invasions in the space have been limited to Blockchain companies such as kraken and CoinbaseBut Robinhood represents the crossing of Rubicon. Don’t forget, after all, Robinhood helped push her wonderful competitors to commission -free trade for retail customers. The Chairman of the Securities and Stock Exchange Committee gave Paul Atkins interview On the same day, like an Openai’s publication, saying that “the distinctive symbol is innovation”, and a friend of the Hyster Pierce encryption Absolute Last week’s message invites the distinctive securities “the charming, but not magic.”
As emerging red companies such as Openai and Spacex and tape Keep special for a longer period, companies from Robinhood to Forge It tries to create new vehicles that allow retail customers to reach them, from investment funds circulating in the private market to symbolic stocks. But while these companies will promote innovations such as “democratic transformation”, they also come with the same risks associated with private companies – that is, lack of disclosure and supervision. At a hearing last week on the proposed encryption legislation, Senator Elizabeth Warren argued Give a statement Participants in the market must adhere to federal securities laws.
The future of shares trading is just around the corner. But even if Openai asks you to be careful, you may want to read the beautiful print.
Leo Schwartz
x: leomschwartz
Email: leo.schwartz@fortune.com
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Adventure deals
–Nucleidiumand Basel, a Switzerland -based biotechnology company in Switzerland, raised $ 99 million in financing from the series B. Corma growth opportunitiesand Angelini adventuresand Landton partnersAnd NEVA SGR (Intesa Sanpaolo Group) He led the tour, joined Deeptech & Climate Fonds (DTCF)and The capital of Bavaria, And others.
–Artificial Intelligence Engineand An independent Berlin -based vehicle company raised $ 20 million in seed financing. Segenia Capital and ECAPITAL He led the tour.
–TenthBalo Alto’s investment capital and capital platform and a $ 14 million of seed financing. Draper Associatsand Javelin Venture PartnersAnd Obsessive He led the tour.
–HeliusAI-NATITION TECH Startup has collected its general policy professionals, with a $ 4 million of financing. The extraordinary projects led the tour and joined it Founders, Inc. , Project graduatesAnd others.
Private property rights
– Capital is a tendency acquired SS8 networksIntelligence and Monitoring Center platform in the Silicon Valley. The financial conditions have not been revealed.
–imperialWith the support of who Stone Point CapitalAcquired Peerlink MedicalLos Angeles -based pendant. The financial conditions have not been revealed.
last
– Entertainment is a flutter Agree to get a 5 % stake in Vandaynt GroupNew York City, a sports beta operator, from Boyd Games Company For 1.755 billion dollars.
–Quanterix acquired Countryand A company in spatial biology in Marlburo, Masousa, for $ 20 million in cash.
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