Why Are AI Crypto Tokens Down? Anthropic’s S-1 Filing Exposes an $80.7 Billion Loss

AI crypto tokens are sliding on October 26 for a reason that has nothing to do with their own networks: Anthropic publicly filed its S-1 with the U.S. Securities and Exchange Commission, and the prospectus put a hard number on the cost of the AI trade — an $80.7 billion net loss in the first half of 2026. Bittensor (TAO) is down 1.1% to $250.50, NEAR is down 1.5% to $4.48, and Fetch.ai (FET) is off 0.5% to $0.174, while Bitcoin sits nearly flat near $80,000.