Markets
What to know:
- Tokens woven upon Solana that promised an indirect thrill with Anthropic and OpenAI nosedived nearly forty percent, after the noble houses declared their bearer-mage SPVs a contrivance beyond the limits of board approval.
- Writers at Anthropic and OpenAI declared these “special purpose vehicles”-the humble hounds of ownership-void, warning that any third party pawning them might be courting fraud or spilling velvet‑wrapped nonsense.
- PreStocks, the so‑called purveyor of tokens, flounders; promised attestations vanish, liquidity is a trickle, and valuations for Anthropic soar to a rumored $1.5 trillion, yet the vault contains merely about $23 million of treasure. Investors perch on a mirage and wonder if the exit will ever materialise.
The Solana‑born tokens, heralded as a portal to Anthropic and OpenAI before their grand unveiling, met a catastrophic truth this week.
The two titans proclaimed that the transfer of privately held shares to the very SPVs backing these tokens is invalid because such passages could only be undertaken with the sanction of the corporate council.
Consequently, the tokens collapsed: Anthropic PreStocks (ANTHROPIC) decreased thirty‑four percent in seven days, while OpenAI PreStocks slid thirty‑nine percent, according to CoinGecko data.
PreStocks, a platform built upon Solana, relies on SPVs-designated legal entities created solely to hold assets on behalf of investors-and then issues tokens on Solana that represent indirect economic exposure to those shares.
“We do not permit special purpose vehicles to acquire Anthropic stock, and any transfer of shares to an SPV is void under our transfer restrictions,” announced Anthropic in an updated investor warning page.
Any third party claiming to sell its shares through “direct sales, forward contracts, tokenised securities, or other mechanisms” is “likely either engaging in fraud or offering an investment that may have no value due to our transfer restrictions,” the company stated.
OpenAI issued a similar caution, asserting that unauthorized transactions could violate U.S. securities laws and render the underlying equity invalid. Both companies named several intermediaries. Anthropic listed Open Door Partners, Hiive, and Forge as unauthorized to buy or sell its shares.
Although PreStocks tokens claim a 1:1 backing through SPVs, neither the platform nor any third‑party auditor has released the attestation reports promised at launch.
Liquidity is also a matter of concern. PreStocks data reveals just over $333,000 in stablecoins and $18,000 in Solana (SOL) in Anthropic liquidity as of Wednesday, implying that early buyers raking in profits may find themselves unable to cash out fully. This exposes the chasm between the platform’s implied valuations and the actual deliverables of the SPVs.
The dashboard also shows an implied Anthropic valuation exceeding $1.3 trillion against the platform holding approximately $23 million in total assets, a gap that prompted the companies to push back.
PreStocks debuted in August 2025 with backing from Republic Capital and is steered by CEO Xavier Ekkel. The platform is unavailable to residents of the U.S., Singapore, the European Union, and certain sanctioned jurisdictions, and requires due‑diligence KYC processes for minting and redemptions. Partnerships announced at launch included Jupiter and Meteora, both decentralized exchanges on Solana.
Read More
- XRP’s Price Tango: Can It Outdance the 100 EMA?
- Top 5 Hilarious Mistakes That Cost This Trader $2 Million on Polymarket! 😱💸
- Ripple moves 250M XRP – Can supply crunch trigger a $2.50 move?
- 10M Crypto Users Targeted by Malware Ads!
- Base Loses $1.4B: A Tragicomic Tale of Chains, Cash, and Clashing Visions
- Bitcoin’s Plunge: A Tale of Woe and 0.3% Despair
- 🚀 Solana’s $1B Treasury: A Celestial Heist or Cosmic Blunder? 🌌
- Polkadot’s $2 ‘Home’ Range: Bulls Test, Bears Wait… 🐻💸
- Bitcoin Mining Difficulty Plummets: The Universe’s Most Dramatic Haircut (Again)
- Silver Rate Forecast
2026-05-13 17:46