Crypto News

Crypto ETP outflows totaled $2bn last week, marking the largest weekly withdrawal since February and extending a three-week slump that has reduced assets under management (AUM) to $191bn, down 27% from October. The United States accounted for $1.97bn of crypto ETP outflows, while Germany saw a $13.2m inflow and Brazil recorded modest gains. Other regions including Switzerland, Sweden, Hong Kong, Canada and Australia experienced combined outflows of around $93m. Bitcoin ETPs led redemptions with $1.4bn (2% of AUM) withdrawn, and Ethereum lost $700m (4% of AUM). Smaller products saw outflows of $8.3m for SOL and $15.5m for XRP. In contrast, SUI attracted $6m, LTC $3.3m and ADA $0.4m in inflows. Multi-asset ETPs drew $69m over three weeks, while short Bitcoin funds saw $18.1m of inflows. Analysts attribute the outflows to monetary policy uncertainty and whale selling, triggering a rotation into diversified and hedged products. They view the sell-off as a broader market correction rather than a structural downtrend, and expect cautious accumulation near support levels ahead of renewed ETF inflows.

Japan’s Financial Services Agency (FSA) has unveiled a comprehensive crypto regulation overhaul under the Financial Instruments and Exchange Act. The proposal reclassifies 105 digital tokens, subjecting them to stricter market conduct standards and investor protection rules by 2026. Domestic exchanges must disclose each asset’s issuer, blockchain infrastructure and volatility profile. The crypto regulation introduces a flat 20% capital gains tax on crypto profits, replacing the current income-based system that can reach 55%. It also bans insider trading on crypto listing or delisting events, with penalties to bolster market integrity. Lawmakers are scheduled to debate the proposal in the 2026 session after its submission next year. Alongside the regulatory framework, the FSA is reviewing bank crypto holdings and piloting yen-denominated stablecoins through its Payment Innovation Project. Traders and institutions should prepare for stricter compliance requirements, clearer rules and reduced tax uncertainty under Japan’s upcoming crypto regulation.

Bitmine has appointed Chi Tsang as CEO effective November 14, 2025, succeeding Jonathan Bates. The board added independent directors Robert Sechan, Olivia Howe and Jason Edgeworth under chairman Tom Lee. Bitmine shifted from mining rigs to balance-sheet strategies, becoming the largest corporate holder of Ether with over 3.5 million ETH (3% of circulating supply). The company aims to raise its holdings to 5% of free-floating ETH. Bitmine’s stock (BMNR) fell 36% last month and 6% on the day, reflecting short-term pressure on digital asset treasuries. Despite market volatility, Bitmine plans continued ETH accumulation, staking operations, governance enhancements and partnerships with traditional finance. Analysts anticipate further purchases if ETH surpasses $4,000, potentially supporting long-term demand in the Ethereum treasury market.

Travis Ford, CEO of Wolf Capital Crypto Trading, has been sentenced to five years in prison after pleading guilty to orchestrating a $9.4 million crypto fraud Ponzi scheme. Between January and August 2023, Ford defrauded 2,800 investors by promising daily returns of 1–2%, equating to over 500% annual yields, then diverted funds to personal use and trading losses. The United States Department of Justice (DOJ) ordered him to forfeit over $1 million and pay $170,000 in restitution. This high-profile ruling underscores the DOJ’s intensified enforcement against crypto fraud. Globally, regulators in the US, China and other jurisdictions are stepping up actions, while Southeast Asia’s border regions have emerged as hotspots for scams using BTC, ETH and stablecoins. The DOJ’s new Scam Center Strike Force and the recent seizure of $13.4 billion in Bitcoin from tycoon Chen Zhi illustrate the broader crackdown on illicit crypto activity, which costs Americans nearly $10 billion annually.

US-based Bitcoin Depot has launched its first Bitcoin ATM in Hong Kong, marking its entry into Asia’s crypto market. The new Bitcoin ATM supports cash-to-crypto transactions, allowing users to buy and sell BTC with cash. This move follows Bitcoin Depot’s expansion across 223 ATMs in North America and aligns with its global growth strategy. Hong Kong’s clear regulatory framework requires all ATM providers to hold a Money Service Operator license, reflecting the city’s push for regulated crypto adoption. The global Bitcoin ATM network has grown nearly 177% since January 2021 to almost 39,500 machines, underscoring strong retail demand and on-ramp liquidity in key markets. Bitcoin Depot plans to roll out additional Bitcoin ATMs across Hong Kong over the coming months, a catalyst for broader Bitcoin adoption and improved liquidity in Asia’s cash-to-crypto sector.

JPMorgan has officially rolled out its JPM Coin dollar deposit token on Coinbase Base, the Ethereum layer-2 network, enabling institutional clients to conduct near-instant, 24/7 USD settlements on-chain. By leveraging Base’s low transaction fees and Ethereum’s security, the bank bridges traditional finance and DeFi, streamlining cross-border payments and boosting liquidity. The launch builds on a pilot with Mastercard, Coinbase and B2C2, and signals a strategic move toward broader adoption of tokenized USD as an alternative to stablecoins. JPMorgan also plans to introduce a euro-denominated version under the JPME trademark, pending regulatory approval. Major banks like DBS are exploring similar deposit tokens to simplify interbank transactions. This deployment accelerates JPMorgan’s digital asset strategy and may drive increased transaction volume on Base.

JPMorgan Chase boosted its Bitcoin ETF holdings by 64% in the third quarter, adding 5.28 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) worth $343 million. The bank also purchased $68 million in call options and $133 million in put options to manage risks and capitalize on price swings. This move highlights growing institutional investment in Bitcoin ETFs despite recent market volatility and IBIT outflows. JPMorgan analysts cite reduced crypto leverage and rising gold volatility as drivers behind this shift. They forecast Bitcoin could reach $170,000 within 6–12 months. Bitcoin trades near $102,900. The expanded ETF stake and bullish price outlook signal renewed institutional confidence in regulated Bitcoin ETFs.

Kazakhstan plans to establish a national crypto reserve fund valued at $500M to $1B by early 2026. The crypto reserve fund will be funded by seized, repatriated and mining-related digital assets. It will invest in crypto ETFs and shares of blockchain companies rather than holding tokens directly. Officials say the fund will strengthen economic sovereignty and formalise the digital asset framework. They plan to channel assets from gold and FX reserves, alongside confiscated crypto, into this state-run digital asset fund. The government is also exploring licensed crypto banks, a national exchange and energy deals with state miners in exchange for virtual currencies. Regulators have closed 130 illicit platforms this year, seizing $16.7M in crypto. Bitcoin (BTC) remains near $100K, down 9% over the past week.

Spain’s Institute of Technology and Renewable Energies (ITER) in Tenerife plans to liquidate 97 Bitcoin purchased in 2012 for about €10,000. With Bitcoin trading above $100,000, the holdings are valued at over $10 million. After previous sale attempts stalled over compliance and regulatory hurdles, ITER has engaged a Bank of Spain- and CNMV-regulated firm to conduct a transparent institutional sale. The transaction will follow detailed compliance procedures and official channels rather than retail exchanges. Proceeds will fund ITER’s future research in quantum technology, renewable energy and genomics. This move highlights growing institutional interest in cryptocurrency and underscores the importance of regulatory clarity for large-scale Bitcoin transactions.

Bitcoin price plunged below key support levels this week, first breaching $101,000 and then falling under $100,000 to hit $99,971 on Binance’s USDT pair. Traders attribute the drop to profit-taking by large holders, shifting market sentiment, regulatory concerns and institutional flows. The breach of the $100,000 psychological barrier has triggered automated stop-loss orders, intensifying market volatility. Technical analysts are closely watching trading volume and institutional buying as potential stabilizers for Bitcoin price. To navigate the pullback, traders are advised to use dollar-cost averaging, set clear entry and exit points, rebalance portfolios and diversify holdings. While short-term volatility may persist, many investors view this correction as a buying opportunity, citing Bitcoin’s fixed supply, growing institutional adoption and long-term growth narrative.

Franklin Templeton has launched Hong Kong’s first tokenized US Treasury fund, the Franklin OnChain US Government Money Fund, under the HKMA’s Fintech 2030 strategy and Project Ensemble sandbox. Registered in Luxembourg, it issues digital shares on a blockchain for short-term US Treasuries, enabling near-instant settlement, 24/7 trading, improved liquidity and lower fees. HSBC and OSL Group participated in settlement tests, demonstrating seamless integration with traditional banking infrastructure. This tokenized US Treasury fund aligns with HKMA’s broader plans to create a tokenized deposit settlement framework, potentially incorporating CBDCs. The SFC has revised rules to support digital asset distribution and tokenized securities. Future phases of Project Ensemble will expand to corporate bonds, trade finance and cross-border investments, targeting settlement times in seconds, robust stress-testing and enhanced cybersecurity, alongside investor education programs. Global consulting firms forecast real-world asset (RWA) tokenization growing from US$36 billion today to US$190 trillion by 2033, underscoring the transformative potential of tokenized US Treasury fund products for institutional investors and market infrastructure. Franklin Templeton’s pioneering vehicle marks a landmark step in Hong Kong’s digital finance and could serve as a template for future tokenized money market funds.

Franklin Templeton has revised its S-1 filing for a spot XRP ETF by shortening the Section 8(a) clause to trigger automatic SEC effectiveness after a 20-day review. This fast-track approach is also used by Bitwise and Canary Funds. It bypasses potential SEC amendments and leverages reduced regulator activity during the recent government shutdown. Upon securing Form 8-A effectiveness and exchange approval, the spot XRP ETF could list as early as mid-November. It may debut on November 13, pending Nasdaq clearance. Bloomberg analyst James Seyffart and ETF expert Nate Geraci note that auto-effective S-1 amendments could shave weeks off traditional review times. Market analysts forecast up to five spot XRP ETF listings by mid-November 2025, with over $10bn in inflows. Traders should monitor SEC filings for updates. They must prepare for increased XRP ETF liquidity and volatility at launch.

U.S. prosecutors in the Southern District of New York have requested the maximum five-year prison term under the Bank Secrecy Act for Samourai Wallet co-founders Keonn Rodriguez and William Lonergan Hill. The Bitcoin privacy app is accused of running an unlicensed money-transmitting service that processed at least $237 million in illicit proceeds from drug trafficking, dark web markets, cyberattacks, fraud and child exploitation. Prosecutors allege Whirlpool and Ricochet features were designed to conceal criminal funds and that developers marketed the tool as a “laundry service.” They claim the founders collected about 246.3 BTC in fees and retained user data enabling traceability. The pair pleaded guilty to unlicensed transmission after a plea deal dropped money laundering counts. Defense attorneys argue Samourai Wallet was a non-custodial privacy tool built with legal counsel, citing cooperation, time served and academic support in the cypherpunk tradition. The probation office recommended 42 months, and sentencing hearings are set for November 6–7, 2025. The case underscores rising regulatory scrutiny of crypto privacy services and highlights compliance risks for Bitcoin traders.

Senator Elizabeth Warren’s legal team has dismissed a defamation threat from Binance CEO Changpeng Zhao over her social media post linking his November 2023 guilty plea for anti-money laundering compliance failures to a presidential pardon. Zhao’s counsel demanded a retraction, arguing the post misrepresented his plea and falsely suggested he financed Binance’s stablecoin USD1 and lobbied for a pardon. Warren’s lawyer countered that her statements are fact-based and protected opinion under the First Amendment, citing court records, Zhao’s four-month sentence served in April 2024, and the stablecoin’s role in a $2 billion transaction. The dispute highlights growing crypto regulation risks for Binance and the impact of political influence on market sentiment.

Binance says a security breach on October 30 affected an estimated $6.3 billion in cryptocurrency, potentially making it larger than the $1.5 billion Bybit theft in February 2025. The final loss remains uncertain as investigators trace the funds. Binance has frozen about $3 billion in assets on-chain with help from blockchain partners, temporarily suspended deposits and withdrawals, and is working with law enforcement. The exchange says it will cover losses through its SAFU fund and company funds. A preliminary investigation identified a DevOps engineer’s compromised laptop as an initial lead. Binance says an attacker used it to access a service container and submit withdrawal transactions through internal infrastructure. The exchange has found no evidence that wallet private keys were exposed. The incident may weigh on confidence in Binance and prompt short-term caution among traders, although the freeze and loss coverage could limit longer-term concerns.

Bitcoin rose from 81,004.9 USDT, up 0.05% over 24 hours in the earlier update, to 81,013.8 USDT, with its 24-hour gain increasing to 0.63% in the latest OKX data. The move marks a modest rise in the BTC price, but neither update cites a catalyst or broader market context. Traders may view the move as a short-term price update rather than a clear signal of a sustained trend.

Strategy faces possible removal from MSCI’s global equity indexes under proposed rules for companies with limited operating assets and concentrated financial holdings. MSCI is expected to name affected companies on November 11, with changes scheduled after the market close on November 30, 2026. The decision on Strategy is not final. The proposed framework considers operating assets and financial tests, and includes safeguards for existing index constituents. Other firms, potentially including digital-asset treasury company Metaplanet and uranium investor Yellow Cake, could also be affected. JPMorgan estimates that Strategy’s removal could prompt about $2.8 billion in passive selling of its shares. If other major index providers adopt similar rules, the total could reach $8.8 billion. These estimates concern Strategy stock, not its Bitcoin holdings. MSCI’s classification could therefore pressure Strategy shares without requiring direct BTC sales. Strategy says its financing and capital-allocation model—including common stock, preferred securities and convertible debt—makes it more than a vehicle holding Bitcoin. MSCI says its rules must distinguish operating companies from firms that primarily hold financial assets. Chairman Michael Saylor has played down MSCI’s influence on capital flows and criticised its approach. For traders, the main risks are index-driven selling and potentially more difficult fundraising. A weaker share premium or softer demand for securities could constrain Strategy’s ability to finance further Bitcoin purchases. The ruling may also shape how index providers classify Bitcoin treasury companies. It could weigh indirectly on BTC sentiment, but it does not change Bitcoin’s fundamentals or automatically trigger Bitcoin sales.

Resistance to tokenized US stocks has grown since 22 companies were initially reported to have objected to OKXICE’s planned service. The later update put the number at 33 issuers, representing about $17 trillion in combined market value. OKXICE, a joint venture between OKX and Intercontinental Exchange, plans to offer around 63 US stocks on OKX’s X Layer network under an SEC innovation exemption. The framework gives companies 30 days to object to third-party tokens of their shares. Issuers have raised concerns about investor confusion, share prices, liquidity, volatility, transparency and market oversight. OKXICE co-chair Andrew Cuomo said a cautious response was expected and that companies can opt out. The objections do not rule out tokenized stocks altogether, but they add uncertainty to third-party offerings and the wider tokenization sector. A separate model is advancing through established financial infrastructure. On 28 October, the Depository Trust Company, part of DTCC, launched a service covering 34 securities, backed one-to-one by assets held in its existing custody system; 20 financial institutions have signed up. The competing approaches—third-party tokenized stock platforms and services integrated with traditional securities infrastructure—could shape regulation and adoption. For crypto traders, the immediate effects are likely to be concentrated in digital-asset tokenization rather than broad market prices.

Strategy shareholders approved daily dividends for preferred stocks STRF, STRC, STRK and STRD, with 99.3% of votes cast in favor. Dividends will accrue every calendar day, including weekends and holidays, but payments will be made on business days. The change affects payment timing, not annualized rates or total dividend income, which remain roughly 8% to 12%. STRC is scheduled to begin daily payments on November 2; STRF, STRK and STRD are due to follow on January 4, 2027. Strategy says daily dividends could support liquidity and price stability by shortening the wait between accrual and payment. The move comes as Bitcoin treasury firm Strive competes for income-focused investors with its SATS preferred stock, which offers a 15% annualized rate and plans to start daily payments on November 9. Strategy recently repurchased $204.9 million of STRC as it traded just below its $100 par value, while pausing Bitcoin purchases. Traders will watch whether daily dividends help the preferred shares narrow their discounts to par and reduce future funding costs for Bitcoin purchases. The impact is uncertain and may be offset by competition and potential MSCI index-removal risk for Strategy.

Itaú Unibanco, Brazil’s largest private bank, filed a crypto notice with the central bank on 27 October, ahead of the 30 October deadline for regulated firms already offering digital-asset services. The Itaú crypto filing covers client crypto trading and custody, which Brazil classifies as brokerage services. It is a formal notification, not a licence application, and requires independent technical certification. The central bank can request more information or order the bank to wind down its operations. Itaú has offered crypto trading since December 2023 and supports more than 14 assets, including Bitcoin, Ether and USDC. Brazil’s licensing framework also sets requirements for asset segregation, capital, governance and anti-money-laundering controls, with further security requirements due from 2027. From 6 November, regulated firms will also be barred from facilitating certain transactions involving unauthorised providers. The filing reflects tighter oversight and growing bank involvement, but does not itself signal a change in Itaú’s services or a direct shift in crypto demand.

Ethereum developers have postponed the Glamsterdam upgrade on the Hoodi testnet, which was scheduled for October 26, while they investigate how EIP-8037 interacts with existing smart contracts. The Ethereum Foundation said on October 22 that no replacement activation date has been set and no confirmed exploit or failure has been identified. The change removes the planned Amsterdam execution-layer and Gloas consensus-layer activations from Hoodi’s schedule, as well as a planned increase in the testnet gas limit to 200 million. Hoodi operators should follow updated execution- and consensus-client instructions. The Foundation said Ethereum mainnet users do not need to take action. The Glamsterdam delay is a testnet readiness measure, not a mainnet rollback or a confirmed change to network performance. Its immediate impact on ETH trading is likely limited, though traders may watch for findings from the EIP-8037 investigation, client updates and a revised Hoodi schedule.

Samsung and the Solana Foundation plan to launch cross-border USDC transfers on Solana through Samsung Wallet in the final week of October 2026. The initial programme could reach users across 82 million US Galaxy devices, with fiat on- and off-ramps designed to convert funds to and from local currencies. The Samsung Wallet Solana USDC feature is planned, not confirmed as available on every eligible device or in every country. The announcement provides no transfer volumes, fees or confirmed adoption figures; expansion will depend on local regulations. For SOL traders, the integration could support Solana’s stablecoin payments narrative, but its market impact will depend on supported remittance corridors, conversion partners and actual transaction activity.

BNY has added XRP and Ripple’s RLUSD stablecoin to its Digital Asset Custody platform, allowing eligible institutional clients to safeguard, hold and transfer the assets. The bank, which reported $63.4 trillion in assets under custody or administration as of September 30, already serves as RLUSD’s primary reserve custodian and has a separate custody relationship with Ripple Prime. BNY and Ripple plan to explore direct RLUSD minting and redemption for BNY clients, subject to bank and regulatory approvals. They are also examining tokenized investment products on the XRP Ledger and a C2FO-backed trade-finance initiative that could represent approved receivables on-chain. These remain proposed applications, with no launch dates announced. The expanded XRP and RLUSD custody support may strengthen institutional digital-asset infrastructure, but it does not indicate regulatory endorsement, confirmed token purchases or broad adoption. Traders should watch for approval details, client availability and transaction volumes. The announcement alone does not establish a near-term effect on XRP’s price or on-chain activity.

Janus Henderson and Centrifuge have launched JQQQ, a tokenized fund tracking the Nasdaq-100 Index on the Stellar blockchain. The fund is the first officially licensed tokenized product to track the index and is initially available to eligible professional investors outside the US, with a reported $100,000 minimum investment. It provides indirect exposure to the index, not direct ownership of its constituent stocks. The launch expands Janus Henderson’s blockchain-based fund offerings, which the firm says exceed $1 billion and include products accessed by about 200 crypto wallets. Stellar has around $3.8 billion in tokenized assets, ranking fourth among blockchains, according to RWA.xyz. Other institutional activity includes Aviva Investors’ tokenized share class on XRP Ledger and planned links between the Depository Trust & Clearing Corporation’s tokenization service and Stellar, with assets potentially available in the first half of 2027. Franklin Templeton and Animoca Brands are also pursuing tokenized-asset initiatives. JQQQ is not a direct crypto investment, so its immediate effect on crypto trading may be limited. The launch supports the longer-term institutional adoption of tokenized funds, though liquidity, regulation and interoperability remain challenges. Stellar’s XLM was reported down about 16% year to date and near $0.17, underscoring that growing RWA activity has not necessarily translated into near-term token-price gains.

BlackRock Financial Management, BlackRock Japan, SBI Holdings and Startale Group signed a memorandum of understanding on 27 October to explore linking tokenised money market funds with JPYSC, a regulated yen-denominated stablecoin. The partners will assess technical interfaces, business and distribution models, and regulatory requirements in Japan. The proposal remains exploratory: no fund, blockchain, launch date, eligible investors or completed JPYSC settlement transactions have been announced. It does not confirm an integration with BlackRock’s BUIDL fund or the launch of a new fund or service. Any connection between JPYSC and tokenised fund shares would need clear rules for investor eligibility, custody, liquidity, ownership records and settlement. For crypto traders, the announcement signals institutional interest in Japanese tokenisation infrastructure, but it is not evidence of live demand or an immediate trading catalyst for JPYSC. A defined pilot and verified settlement activity would mark more concrete progress.

The US Office of the Comptroller of the Currency (OCC) is encouraging community banks to seek approval to issue payment stablecoins under the GENIUS Act, directly or through eligible subsidiaries. The regulator says stablecoin issuance could help smaller lenders compete in digital payments, while its guidance addresses concerns about deposit outflows, issuer yields and competition. The application process is not open yet: the OCC is awaiting federal approval of its application forms. The GENIUS Act’s requirements take effect on Jan. 18, 2027. Issuers operating without approval after that date could face criminal penalties; existing issuers with substantially complete applications submitted by then may seek temporary waivers during review. The OCC expects to assess application completeness within 30 days and issue decisions within 120 days. The OCC’s outreach comes as community banks challenge the regulator’s national trust-charter approvals for crypto firms. The move could widen banks’ role in the stablecoin market, but its immediate effect is limited until applications open. Stablecoin issuance and the treatment of yield-bearing products may influence future competition for deposits and the direction of US crypto regulation.

Ripple and South Korean securities firm Meritz Securities have agreed to explore digital asset custody and tokenisation infrastructure for regulated capital markets. The partnership, Ripple’s first with a Korean securities firm, will assess Ripple Custody within Meritz’s existing regulatory permissions. Any broader rollout will depend on South Korea’s evolving rules; no commercial launch or implementation timeline has been announced. Meritz is considering potential services including spot ETFs, fractional investing, security tokens and won-linked stablecoins. These remain possible business areas, not products launched under the agreement. Ripple has also worked with South Korean firms on tokenised government-bond settlement, digital wallets and cross-border payments. For crypto traders, the Ripple-Meritz agreement is an infrastructure development rather than a direct source of XRP demand. Meritz and its customers are not required to buy XRP, and the partnership’s effect on XRP’s price is uncertain. Commercial impact will depend on whether the companies move beyond exploration and introduce services under South Korea’s regulatory framework.

Ripple Prime has launched 24/7 real-world asset (RWA) perpetual swaps for eligible institutional clients, covering more than 100 markets, including stocks, indexes, ETFs, commodities and currencies. Announced on October 15, the contracts reference Trade.xyz perpetual futures listed on Hyperliquid, with Ripple Prime acting as principal to its institutional customers. Ripple says trading firm Virtu is already using the service. Ripple Prime clients can cross-margin positions with supported assets and, where available, use RLUSD as collateral. The swaps provide derivative exposure rather than ownership of underlying assets, and carry funding, margin, counterparty and liquidation risks. While contracts trade around the clock, traditional markets do not provide continuous price discovery. Limited liquidity—especially outside regular market hours—could make large trades costly or move prices. A reported episode saw nearly $52 million in leveraged chip-stock positions liquidated in 10 minutes while the underlying shares were closed. The service is currently available through Ripple Prime’s British Virgin Islands-licensed operation, with access subject to jurisdiction and licensing; Ripple has not disclosed trading volumes. The launch expands Ripple Prime’s cross-asset brokerage and offers institutions a crypto-native route to 24/7 exposure to traditional markets. RLUSD, not XRP, is the stated collateral, and Ripple has announced no direct role for XRP in settlement or collateral transfers. The development therefore signals institutional growth in token-linked derivatives, but does not establish an immediate catalyst for XRP demand.

Anthropic’s proposed Nasdaq IPO highlights rapid growth, heavy computing costs and governance questions. Its filing reported revenue of $4.7 billion in Q1 2026, $11.6 billion in Q2 and $16.8 billion in Q3, while quarterly growth slowed from 132% to 45%. The company recorded a $693 million operating loss in the first half of 2026 and held $131.65 billion in cash and short-term investments at June 30. An earlier report put minimum compute, infrastructure and commercial commitments at about $417 billion, with a further $125 billion to $150 billion in potential payments; the later summary says the filing names major providers, including Amazon, Google and Microsoft, but gives no consolidated total. The filing also flags reliance on a limited group of customers and cloud providers, alongside net revenue retention of about 900% as of September 30, 2026. Founders and a long-term benefit trust would retain substantial voting influence, and five co-founders are listed as selling shareholders. The proposed offering’s price, share count and final mix of new and existing shares remain undisclosed. The Anthropic IPO is a significant signal for AI and technology stocks, but it has no direct cryptocurrency token catalyst.