Onchain Pre-IPO Trading Data Values Anthropic at $1 Trillion

According to the source, Anthropic’s implied pre-IPO valuation rose 733% since October 2025, with onchain pre-IPO instruments on Jupiter (Solana-based trading platform) backed 1:1 by SPV (special purpose vehicle) exposure.

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Fact Check
The claim is supported by two mutually consistent sources available in this run: The Kobeissi Letter X post and the crypto.news article. The X post is the strongest available source here because it explicitly contains all key elements of the claim, including the 733% increase since October 2025 and the statement that the Jupiter instruments are backed 1:1 by SPV exposure. The crypto.news article independently corroborates the $1 trillion implied valuation and 733% rise. However, because neither source is an official Anthropic or Jupiter statement and no primary market documentation was retrieved, confidence is medium rather than high.
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