Anthropic implied valuation exceeds $2 trillion in crypto derivatives markets

Anthropic, the AI safety laboratory behind the Claude model family, is experiencing a massive divergence in valuation between traditional secondary markets and crypto-native derivatives. While traditional secondary market platforms price the company at approximately $1.2 trillion, synthetic pre-IPO perpetual futures on platforms like Binance and Hyperliquid have implied valuations exceeding $2 trillion.

These synthetic instruments allow traders to gain price exposure without owning actual equity or having voting rights. This speculative activity in the crypto market has significantly outpaced the valuations seen in regulated secondary share sales. In response to these developments, Anthropic updated its terms in May 2026 to declare that unauthorized transfers of its shares, including those through tokenized products, would be deemed void.

Despite the speculative frenzy, Anthropic remains a private company, meaning its shares are not available for direct public investment. The company continues to focus on raising funds from institutional investors to support the development of its next chatbot models.