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A synthetic SpaceX futures contract on Hyperliquid cleared roughly $1.4 billion in volume during the rocket maker's Nasdaq debut, while three rival exchanges scrapped their tokenized versions. Key Points: Hyperliquid's SpaceX perpetual handled about $1.4 billion in volume on listing day, near 30% of

Kraken launched pre-IPO perpetual futures tied to OpenAI and Anthropic, giving eligible traders leveraged exposure before either AI company lists publicly. Key Points: Kraken’s new contracts let eligible users trade long or short exposure to OpenAI and Anthropic before any IPO. The products offer up

SpaceX’s record IPO has left SPCX trading as a new off-benchmark gauge for mega-cap risk while S&P 500 inclusion remains delayed. Key Points: SpaceX is excluded from the S&P 500 for at least 12 months under existing IPO rules. SPCX’s first session lifted its market value above $2.0 trillion after a

Anthropic said a U.S. directive forced it to suspend two frontier AI models for foreign nationals, hitting pre-IPO-linked trading tied to the company. Key Points: Anthropic said the order forced it to disable Claude Fable 5 and Claude Mythos 5 for foreign nationals. The company said the government c

Solana (SOL) stock tokens faced a real-world supply test after SpaceX-linked demand overwhelmed xStocks’ ability to source underlying shares. Key Points: Binance Wallet’s SPCXx subscription window drew about $557 million in USDC from roughly 27,689 addresses. Bybit, Binance Wallet and Bitget Wallet