Solana Tokens Backed by Anthropic and OpenAI Shares Plunge After Companies Warn SPVs May Be Invalid
Tokens on Solana that claim to track private-market valuations of Anthropic and OpenAI dropped sharply this week after both AI companies warned that the special purpose vehicles (SPVs) used to back the tokens may be invalid. Anthropic PreStocks (ANTHROPIC) fell 34% in seven days, while OpenAI PreStocks dropped 39%, according to CoinGecko data. Anthropic stated that it does not permit SPVs to acquire its stock and that any transfer to an SPV is void under its transfer restrictions. OpenAI issued a similar warning, noting that unauthorized transactions may violate U.S. securities laws and could invalidate the underlying equity. Both companies named intermediaries unauthorized to buy or sell shares, including Open Door Partners, Hiive, and Forge. PreStocks, the Solana-based platform issuing these tokens, claims 1:1 backing through SPVs but has not published promised attestation reports. Liquidity is also a concern: data shows just over $333,000 in stablecoins and $18,000 in SOL for Anthropic liquidity as of Wednesday, potentially preventing early buyers from fully cashing out. The dashboard implies an Anthropic valuation above $1.3 trillion against platform holdings of roughly $23 million, exposing a structural gap. PreStocks debuted in August 2025 with backing from Republic Capital and requires KYC for minting and redemptions.
Key facts
- Anthropic PreStocks token dropped 34% and OpenAI PreStocks fell 39% in seven days.
- Anthropic and OpenAI stated SPV transfers are invalid without board approval.
- PreStocks has not published promised attestation reports for 1:1 backing.
- Liquidity concerns: Anthropic pool has only $333k stablecoins and $18k SOL.
- Implied Anthropic valuation of $1.3T vs. platform assets of $23M highlights gap.