- Bitcoin holds near $64,086 as total crypto market cap rises to $2.27 trillion.
- Anthropic’s annualized revenue surpasses $65 billion ahead of a fall IPO.
- Jane Street discloses $990M in Bitcoin ETFs after a $15B July loss.
Bitcoin traded near $64,086, up 1.2% over the past 24 hours though roughly flat for the week, while Ethereum held around $1,893, up 0.5% on the day. XRP slipped to $0.992, dipping below the $1 mark, down 1.1% on the day. Solana traded near $75.63, and Hyperliquid’s HYPE token stood at $59.15.
Total crypto market capitalization stood at $2.27 trillion, up 1.5% over the past day.
Trending Searches
The Black Bull surged 10% to lead trending searches, followed by Venice Token, up 8.2%, and Pudgy Penguins, down 0.2%. Among top gainers, Tutorial jumped 42.8%, Nockchain added 41.0%, and GoPlus Security rose 39.2%, reflecting continued heavy rotation into smaller AI and security-themed tokens.
Anthropic’s Revenue Surges Ahead of IPO Push
Anthropic’s annualized revenue is expected to exceed $65 billion as of the end of July, more than seven times its level at the end of last year, according to people familiar with the matter. The company reportedly shared the figure in regular investor updates, and the acceleration has strengthened confidence in advancing IPO plans, with Anthropic potentially reaching Wall Street as early as this fall, ahead of OpenAI.
Separately, hedge fund Situational Awareness, founded by former OpenAI researcher Leopold Aschenbrenner, sold its roughly $5 billion Anthropic stake at a 20% discount amid an ongoing liquidity crisis tied to high-leverage positions.
Jane Street’s Bitcoin ETF Exposure Revealed
Jane Street disclosed holding approximately $990 million in Bitcoin spot ETFs, equivalent to roughly 15,394 BTC, with $828 million concentrated in BlackRock’s IBIT. The disclosure came just days after the firm revealed a roughly $15 billion loss in July tied to its stake in Situational Awareness and Asian equity market losses, its first monthly loss in about a decade.
Despite the setback, Jane Street’s year-to-date net trading revenue has already surpassed $40 billion, exceeding last year’s full-year record.
Treasury Yields Stay Elevated Despite Rate Cut Bets
Citadel Securities said the Fed’s current policy path is keeping long-term Treasury yields near multi-decade highs despite cooling inflation and employment data, with the 30-year yield briefly touching 5.28%, its highest level in 19 years. The firm said it favors cloud infrastructure and hyperscalers like Microsoft and Alphabet over frontier AI model developers within the AI trade.
Crypto Lending Continues Gradual Deleveraging
Galaxy Research reported crypto asset-backed lending fell 16.8% in Q2 to $56.16 billion, a third consecutive quarterly contraction, though the pace remains far milder than the 55%+ single-quarter collapse seen in 2022. CeFi lending overtook DeFi lending for the first time since Q3 2023, with Tether holding a 58.5% share of the CeFi market.
Institutional and Corporate Developments
IREN delivered the first of four AI infrastructure phases under its $9.7 billion, five-year cloud agreement with Microsoft, a 50-megawatt liquid-cooled deployment in Texas that received Nvidia’s “Exemplar Cloud” certification. Kraken parent Payward joined Anthropic’s Project Glasswing AI security initiative, gaining access to the Claude Mythos 5 model alongside existing members AWS, Apple, Google, Microsoft, and JPMorgan Chase.
Strategy’s Michael Saylor said the company is prioritizing STRC preferred stock, cash reserves, and its credit business over share buybacks, with MSTR down about 38% this year. The firm currently holds $4.8 billion in cash to cover dividend obligations.
Security and Legal Developments
A Georgia man was extradited from Fiji to face charges over an alleged $165 million crypto Ponzi scheme that defrauded more than 6,000 investors between 2022 and 2023. Additionally, security researchers warned that pirated copies of a newly released Hollywood film are being used to distribute infostealer malware targeting crypto wallets and browser credentials.
Related: Strategy Holds 840K BTC After $334M Share Sale
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