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Anthropic, OpenAI tokens plunge as firms say pre-IPO share transfers are invalid

Tokens on Solana claiming exposure to Anthropic and OpenAI dropped nearly 40% after the companies warned that the SPV structures violate their share-transfer rules. PreStocks, the token issuer, has not provided attestation reports and shows thin liquidity, raising concerns about investor redemption.

SourceHacker News AIAuthor: SilverElfin
Anthropic, OpenAI tokens plunge as firms say pre-IPO share transfers are invalid
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Key points

  • Tokens representing indirect exposure to Anthropic and OpenAI fell nearly 40% this week.
  • Anthropic and OpenAI stated that the SPV share transfers are invalid and may constitute fraud.
  • PreStocks, the issuer, lacks attestation reports and holds only $23 million in assets despite implying a $1.5 trillion valuation for Anthropic.

Highlights and analysis are generated automatically and may contain errors. Check the original source.