Anthropic, OpenAI tokens plunge as AI firms say pre-IPO share transfers are invalid
CoinDesk·
60-second summary
Anthropic and OpenAI tokens on Solana are plummeting as both AI companies declare pre-IPO share transfers invalid, potentially rendering the tokens worthless. The tokens, valued at $1.2 billion, claim to track private-market valuations of the companies. This development raises concerns about the legitimacy of these tokens and their holders, sparking a market-wide reevaluation of AI-related assets.
Tokens on Solana that claim to track the private-market valuations of Anthropic and OpenAI dropped sharply this week after both AI companies warned that the structures used to back the tokens may be invalid.