Ventuals, the team behind OpenAI and Anthropic perpetual markets on Hyperliquid, is winding down, freezing its pre-IPO markets and settling all open positions using 24-hour average prices. The shutdown freezes OPENAI and ANTHROPIC contracts, with OPENAI settling at $1,341.80 (implying $1.34 trillion valuation) and ANTHROPIC at $1,618.90 ($1.62 trillion). Trading halted Monday, and vHYPE holders can withdraw deposited HYPE plus staking rewards. This closure highlights rapid consolidation among HIP-3 operators, as TradeXYZ now controls about 95% of Hyperliquid's $1.46 billion lifetime pre-IPO volume, with $106 million open interest. TradeXYZ's accurate pricing—Cerebras within 1.3% of Nasdaq open and SpaceX above offering price—has solidified its dominance. Hyperliquid's HYPE token rose nearly 12% to $68 despite Ventuals' exit. The wind-down leaves minimal competition, shaping future pre-IPO trading on the platform.

Key facts

• Ventuals shuts down pre-IPO markets for OpenAI and Anthropic on Hyperliquid.
• OPENAI settles at $1,341.80, ANTHROPIC at $1,618.90 based on 24-hour averages.
• TradeXYZ dominates 95% of Hyperliquid's $1.46 billion pre-IPO volume.
• HYPE token rises 12% to $68 despite Ventuals' exit.
• TradeXYZ's accurate pricing key to its market lead.