According to Beating Monitor, two AI giants with a combined valuation nearing $2 trillion have simultaneously moved to clean up their cap tables ahead of their IPOs. Today, OpenAI announced a formal policy on its website declaring all股权转让 without written consent invalid, covering direct sales, SPV (special purpose vehicle) shares, tokenized equity, and forward contracts. Neither buyers nor sellers will receive any economic value, and such transactions may violate U.S. securities laws. Back in August 2025, OpenAI had already publicly warned investors about unauthorized SPV scams; this is now formalizing those warnings into binding rules. Anthropic has similarly tightened its policies, using the term “void” rather than “voidable” on its equity transaction policy page. Crypto lawyer Gabriel Shapiro noted this represents the most aggressive legal stance under Delaware corporate law: voidable transactions can still be remedied, while void transactions are legally considered to have “never occurred.” Sellers may retain both their shares and the proceeds, while buyers can only seek recourse upstream. Anthropic also specifically named platforms including Open Door Partners, Unicorns Exchange, Forge Global, and Hiive, declaring that shares purchased through these channels carry no shareholder rights whatsoever. The crackdown follows an explosive secondary market: Anthropic’s primary funding valuation in February was $380 billion, yet its secondary market valuation had surged to approximately $1 trillion. OpenAI’s valuation stands at $852 billion. Both companies plan to go public in the fourth quarter of this year; clearing uncontrolled “wild shareholders” from their cap tables before listing is both a compliance necessity and a strategic move to assert pricing control.
OpenAI and Anthropic Crack Down on Unauthorized SPV Investments
MarsBitShare
Summary
OpenAI and Anthropic have issued new on-chain alerts warning against unauthorized SPV investments. Both companies declared that equity transfers without written consent are invalid, targeting platforms such as Open Door Partners and Unicorns Exchange. This action follows recent concerns over exchange hacks, as the companies prepare for IPOs later this year. OpenAI and Anthropic are strengthening control over tokenized rights and secondary market activity.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.