Anthropic, the AI firm behind the Claude chatbot, sparked panic in private markets last week after it banned unauthorized sales of its shares before a public listing. The ban targets platforms, brokers, and special-purpose vehicles (SPVs) that have been selling access to pre-IPO firms such as Anthropic, ChatGPT maker OpenAI, and Elon Musk’s rocket company SpaceX, often without their approval.
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New trading tool for AMZN bullsAnthropic Names Eight Firms in Official Warning
Anthropic posted the warning on its official support page and named eight platforms that were selling its shares without permission. They include Open Door Partners, Unicorns Exchange, Pachamama Capital, Lionheart Ventures, Hiive, Forge Global (FRGE), Sydecar, and Upmarket.
Anthropic stated that any share sales or transfers made through these firms would not be recognized on its books. It also barred SPVs from holding its stock and warned that any shares routed into one would be treated as void.
Soon after the update went live, concerns began to circulate in an investor WhatsApp group, with one investor asking, “Are we screwed?”
The warning came as demand for Anthropic shares surged in secondary markets. Some unofficial platforms were valuing the company at around $1 trillion, far above the $380 billion from its last funding round in February 2026.
Unicorns Exchange, one of the firms banned by Anthropic, said it received more than 50 buy requests from institutions in just three months, with total demand exceeding $1 trillion.
Days after Anthropic’s warning, fears spread across X, Reddit (RDDT), and Chinese-language social media. Many secondary-market investors worried that the holdings they believed were valid could suddenly become worthless.
Platforms Push Back as Investor Losses Loom
The firms named by Anthropic quickly pushed back against the ban. Idan Miller, who runs Unicorns Exchange, said “Anthropic threw a bomb into the market,” and claimed that the firm was unjustly targeted.
Miller added that his firm acts only as a broker between Anthropic shareholders and interested buyers, and that the deals had the firm’s approval. Other companies named by Anthropic made similar claims.
On the other hand, Forge Global took a different stance. The platform said it never moves private company shares without approval and is working with Anthropic to remove its name from the list. Despite this, the company remains on the banned list.
The ban also triggered sharp losses across related markets. Sohail Prasad, founder and CEO of Destiny Tech100 (DXYZ), insisted that his fund’s Anthropic holdings were valid after Anthropic’s shares fell about 25% in the days following the warning.
At the same time, tokenized products tied to Anthropic and OpenAI on the Solana (SOL-USD)-based platform PreStocks dropped roughly 38% and 46%, according to CoinGecko data.
Will Anthropic Go Public in 2026?
Anthropic remains a private company, so its stock is not yet listed on public exchanges like the NYSE. The firm is targeting a possible public listing as early as October, 2026, and has reportedly sought the law firm Wilson Sonsini, which managed Google’s (GOOGL) 2004 IPO, to assist with public-market readiness.
However, the company has not filed any official documents with the SEC, and no final decision or fixed date has been set. Those seeking indirect exposure can look to public firms that have backed Anthropic, including Amazon (AMZN) and SK Telecom (SKM).
