Anthropic and OpenAI issued identical warnings Tuesday: any share transfer without board approval is void. Buyers using unauthorized channels-direct sales, special purpose vehicles (SPVs), tokenized interests, or forward contracts-will not be recognized as shareholders.
Anthropic published a blocklist of unauthorized platforms, including regulated marketplaces Forge Global and Hiive. The company stated any sale or transfer without board approval is "void," not voidable.
OpenAI used nearly identical language, declaring unauthorized sales carry "no economic value."
The tokenized market reacted sharply. The Anthropic token on PreStocks dropped from $1400 to $900; OpenAI's equivalent crashed from $1400 to $900 in 24 hours.
Both companies emphasized that authorized tender offers-like OpenAI's October 2025 sale allowing 600+ employees to sell $6.6 billion in vested shares to institutional buyers-remain valid.
The crackdown targets layered SPVs, tokenized wrappers, and platform listings that bypass company consent. Robinhood Ventures Fund I's $75 million OpenAI purchase three weeks ago faces uncertainty; OpenAI has not confirmed approving that transfer.
Anthropic's annualized revenue surged from $9 billion to $30 billion in a single quarter, driven by Claude Code, with Amazon committed to investing up to $25 billion.