Anthropic and OpenAI tokens crater 40% after both AI giants declare pre-IPO SPV structures invalid!

Solana-based tokens marketed as pre-IPO exposure to Anthropic and OpenAI collapsed this week after both companies issued formal warnings that the special purpose vehicles backing the tokens were never authorised. Anthropic's PreStocks token dropped 34% in seven days; OpenAI's fell 39%, per CoinGecko data.

Both companies stated that any share transfer to an SPV requires board approval — and that no such approval was granted. Anthropic went further, warning that third parties selling exposure through tokenized securities or forward contracts are "likely either engaged in fraud or offering an investment that may have no value." OpenAI echoed the language, flagging potential U.S. securities law violations and possible equity invalidation.

The structural problems run deeper than the legal warnings. PreStocks has never published the attestation reports it promised at launch. On-chain…