Anthropic and OpenAI Token Prices Fall as AI Firms Challenge Pre-IPO Share Transfers

Anthropic and OpenAI Tokens Drop After Company Warnings

Tokens linked to private artificial intelligence companies saw sharp declines after both OpenAI and Anthropic questioned the legal structure behind pre-IPO investment products built on the Solana blockchain. Tokens claiming to track the private market value of these firms dropped heavily, with Anthropic-linked tokens falling around 34% and OpenAI related tokens declining nearly 39% over the past week.

Why AI Companies Are Rejecting Tokenized Share Exposure

The issue centers on special purpose vehicles (SPVs), legal entities used to hold private company shares for investors. Both firms argued that any transfer of their stock into SPVs requires board approval, and without that permission, the transactions may be invalid.

Anthropic warned that unauthorized share offerings through tokenized securities, forward contracts, or indirect sales could leave investors holding assets with little or no value. OpenAI also raised concerns that unapproved transfers may conflict with securities rules.

Liquidity and Valuation Concerns Around AI Tokens

Questions are also growing around liquidity. Some platforms reportedly hold limited stablecoin reserves while advertising extremely high implied valuations. This has raised doubts over whether investors could fully exit positions if selling pressure increases, adding fresh uncertainty to tokenized pre-IPO markets.