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Solana-based tokens marketed as a way to gain exposure to Anthropic and OpenAI got an unwelcome reality check this week.
Anthropic and OpenAI stated SPV share transfers backing Solana tokens are invalid without board approval.
KEY POINTS
- PreStocks tokens dropped over 34% amid company warnings that such exposure may be legally invalid.
- Neither PreStocks nor an auditor has published promised attestation reports for token backing.
- PreStocks' implied valuations vastly exceed actual assets held, exposing major structural discrepancies.
COMPANIES
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