What to know:
- Tokens on Solana that claim to offer indirect exposure to Anthropic and OpenAI plunged almost 40% this week after the companies warned the structure behind them violates their share-transfer rules.
- The companies said the special purpose vehicles used to hold their stock without board approval are invalid and warned that third parties selling such exposure may be engaging in fraud or offering investments with no real value.
- PreStocks, which issues the tokens, has not produced promised attestation reports, shows thin liquidity and implied valuations as high as $1.5 trillion for Anthropic despite holding only about $23 million in assets, raising doubts about whether investors can fully cash out.
AI Tokens Take a Hit as Anthropic and OpenAI Invalidate Pre-IPO Share Transfers
Tokens representing privately held equity in Anthropic and OpenAI have taken a significant plunge, dropping almost 40% this week. This downturn comes after the companies issued a warning that the structure behind these tokens violates their share-transfer rules. The special purpose vehicles used to hold their stock without board approval have been deemed invalid, and third parties selling such exposure may be engaging in fraud or offering investments with no real value.
Concerns Over Token Legitimacy and Liquidity
PreStocks, the issuer of these tokens, has failed to produce promised attestation reports, raising concerns about the legitimacy of these investments. Furthermore, the thin liquidity and implied valuations as high as $1.5 trillion for Anthropic, despite holding only about $23 million in assets, have sparked doubts about whether investors can fully cash out. As the crypto and Cloud Rewards space continues to evolve, it’s essential to prioritize secure and reliable platforms like EcoPool for earning and managing Passive Income with Coin like $ECP.
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