Anthropic Names Eight Firms Selling Its Shares Illegally; Removes Four After Backlash
Anthropic named eight firms selling its shares illegally. After the backlash, it quietly removed four.
Hiive’s CEO Questions Anthropic’s Approach
Hiive’s CEO said Anthropic never contacted his platform before the public warning. The company has now raised $65 billion at a $965 billion valuation.
May 30, 2026 – 2:50 pm
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Summary
Anthropic cut its unauthorized share platform list from eight to four after causing panic among investors. It raised $65B at $965B the same week.
Anthropic updated its warning about unauthorized secondary market platforms selling its shares, cutting the list from eight firms to four: Open Door Partners, Unicorns Exchange, Pachamama, and Upmarket. Several prominent names in private market trading, including Hiive, were removed.
Original Notice and Its Impact
The original notice stated that any sale or transfer of Anthropic stock by the named platforms was void and would not be recognized on the company’s books. This applied to both preferred and common stock. It was the first time a major AI company had publicly named specific platforms as unauthorized.
The result was chaos. Publicly traded funds that marketed exposure to Anthropic shares plunged. Private brokers scrambled to reassess positions. Investors who had purchased Anthropic stock through the named platforms were suddenly unsure whether their shares had any legal standing.
Sim Desai’s Response
Sim Desai, CEO of Hiive, pushed back publicly on LinkedIn. He stated that Hiive does not facilitate share transfers “without the company’s approval.” After Hiive’s name was removed, Desai noted that the original post caused confusion among investors and damage to his company’s reputation.
"Had Anthropic approached us before their aggressive new stance and corresponding public statements (they did not), we would have gladly worked with them to deliver a unified message to the market," Desai wrote.
Legal Language and Market Overheat
Both Anthropic and OpenAI have long included transfer restrictions in their shareholder agreements. The fine print was overlooked by buyers eager to gain exposure to pre-IPO AI companies. Anthropic’s decision to publicly name specific platforms turned boilerplate legal language into a market-moving event.
Anthropic shares were already trading at an implied $1 trillion on secondary markets in April, driven by revenue acceleration from $9 billion to $30 billion ARR in one quarter. The unauthorized platform warning hit a market that was already overheated.
Timing of Walkback
The timing of the walkback is notable. On Thursday, Anthropic announced a $65 billion funding round that valued the company at $965 billion including the new investment. That valuation eclipses rival OpenAI for the first time. Anthropic is simultaneously raising the largest private funding round in history and fighting over who is allowed to sell its shares.