Crypto Morning Brief: SpaceX (SPCX.O) Falls Below IPO Price for First Time, Anthropic Plans to Hold IPO Investor Meetings in Coming Weeks
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Crypto Morning Brief: SpaceX (SPCX.O) Falls Below IPO Price for First Time, Anthropic Plans to Hold IPO Investor Meetings in Coming Weeks
DTCC partners with JPMorgan Chase, Goldman Sachs, BlackRock, and other institutions to pilot the tokenization of stocks and U.S. Treasuries.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
DeepSeek's First Financing Round Officially Closes, Tencent, CATL, National Artificial Intelligence Industry Fund, etc. Invest
According to Cailianshe, DeepSeek's first financing round has officially closed. Business registration information shows that Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd., the company associated with DeepSeek, recently underwent business registration changes, adding Hangzhou Chengli Enterprise Management Partnership (Limited Partnership) and National Artificial Intelligence Industry Investment Fund Partnership (Limited Partnership) as shareholders, with registered capital increased to 16.4475 million yuan.
Specifically, the National Artificial Intelligence Industry Fund holds about 0.28%, and Hangzhou Chengli holds about 8.52%. Equity penetration shows that Tencent holds more than 33% of Hangzhou Chengli through two holding platforms, Shanghai Hengxiu and Shanghai Zhimian; CATL holds about 11.7% through Ningbo Meishan Bonded Port Area Wending Investment Co., Ltd., and the associated Puquan Capital holds about 5%. In addition, NetEase, JD.com, IDG, Lisi Capital, Shixiang Technology, and Zhengxingu Capital also participated.
In addition to capital-level progress, DeepSeek is also continuing to advance basic model research and development. After the first financing round closed, the company has launched large-scale recruitment, with positions involving agents, code agents, native large language model search, underlying computing power frameworks, and vertical industry data. In terms of model progress, DeepSeek's most recent important release was the DeepSeek-V4 preview version launched in April this year, and the full version is scheduled to be released in the middle of this month according to previous plans.
SpaceX (SPCX.O) Falls Below IPO Price of $135 for the First Time
According to Bitget market data, SpaceX (SPCX.O) fell below the IPO price of $135 for the first time, currently down 1.7%, trading at $133.8 per share.
Private Equity Institutions Under Liang Wenfeng Have Heavily Bet on Changxin Technology
According to Shenwang Tencent News, the issuance announcement for Changxin Technology's initial public offering shows that national-level long-term funds such as the Social Security Fund and Basic Endowment Insurance Fund, as well as leaders in the upstream and downstream of the industry chain and large insurance funds, participated in the strategic placement. Shenzhen SanKuai Network Technology Co., Ltd., NIO Power Technology (Hefei) Co., Ltd., ZTE Corporation, Chery Intelligent Automotive Technology (Hefei) Co., Ltd., etc., were allocated amounts of 157,999,993.98 yuan, with a lock-up period of 18 months; Hangzhou Aliyun Feitian Information Technology Co., Ltd. was allocated an amount of 157,999,993.98 yuan, with a lock-up period of 36 months.
High-Flyer Quant participated in this offline IPO subscription with a proposed subscription price of 8.78 yuan/share. The maximum proposed subscription quantity per offline transaction was 230 million shares, and most of High-Flyer's products were reported in the range of 70 million to 140 million shares. High-Flyer Quant mainly consists of two parts: Zhejiang Jiuzhang and Ningbo High-Flyer Quant. Both are filed with the Asset Management Association of China, and the actual controller is Liang Wenfeng, where Liang Wenfeng holds 85% of Jiuzhang Assets and 85.15% of Ningbo High-Flyer Quant.
DTCC Pilots Stock and US Treasury Tokenization with JPMorgan, Goldman Sachs, BlackRock, etc.
According to The Wall Street Journal, the Depository Trust & Clearing Corporation (DTCC) launched a live test of tokenized securities on July 15, with nearly 40 financial institutions and technology companies participating, including JPMorgan, Goldman Sachs, BlackRock, Vanguard, and the New York Stock Exchange. The assets tested for tokenization include Microsoft (MSFT) stock, Circle Internet Group (CRCL) stock, Invesco QQQ Trust, State Street SPDR S&P 500 ETF, iShares 0-3 Month Treasury Bond ETF, and US Treasury bonds of different maturities.
DTCC stated that the relevant tokens will be stored on the blockchain and can be used for trading, which is seen as a step towards advancing traditional financial infrastructure towards a digital securities settlement system.
BNB Chain Completes 36th Quarterly BNB Burn, Burning Approximately 1.6158 Million BNB
The BNB Foundation announced that BNB Chain has completed the 36th quarterly BNB burn, which is also the third quarterly burn of 2026.
A total of 1,615,827.795 BNB were burned this time, valued at approximately $932 million based on the price at the time of burning. As of the time of writing, the remaining total supply of BNB is 133.17 million. This burn was executed through the BNB auto-burn mechanism, which is independent of the Binance centralized exchange, aiming to gradually reduce the total supply of BNB to 100 million.
Anthropic Plans to Hold IPO Investor Meetings in the Coming Weeks
AI company Anthropic is seeking to meet with investors before a potential large initial public offering (IPO). As the company prepares to join the AI-driven stock market listing boom, Anthropic is advancing relevant listing preparations. Sources familiar with the matter said that underwriting banks responsible for the offering are arranging for investors to meet with Anthropic in the coming weeks.
Previous reports indicated that Anthropic is considering an IPO as early as October. If the IPO proceeds, Anthropic will lead competitor OpenAI. Reports state that OpenAI previously planned to list in the fall of 2026 but is now considering postponing to 2027. Both companies have secretly filed relevant documents regarding their respective listing plans.
Pump.fun Team Tokens Unlocked for the First Time, 57.2 Billion PUMP to Enter Market
According to on-chain analyst Ember (@EmberCN), the one-year lock-up period for Pump.fun team and investor tokens expired today, officially entering a three-year linear unlock cycle. The first unlock released a total of 57.279 billion PUMP (approximately $86.49 million), distributed to 121 wallets, among which address ◎GsM3...u6ya transferred 52.039 billion (approximately $78.58 million), and address ◎ESRc...ZM67 transferred 5.24 billion
Korean Media: Samsung Secretly Studies Feasibility of US Listing, Company Previously Denied Related Plans
According to Korean media Bloter, sources revealed that Samsung Electronics has begun internal research on various options for issuing ADRs in the United States and has started evaluating relevant operational processes. Bloomberg reported on July 14 that Samsung Electronics has held preliminary discussions with several investment banks regarding listing in the US via ADRs, to which Samsung Electronics responded that it is not considering listing in the US market through ADR issuance.
However, market participants believe that Samsung Electronics' denial this time does not mean the possibility of issuing ADRs in the future has been completely ruled out. Although the company denied the plan, relevant business departments have begun evaluating the potential costs, benefits, and required procedures for issuing ADRs under management's instruction. Semiconductor industry sources revealed on July 15 that company management recently requested relevant departments to study whether a feasible architecture suitable for the company's ADR issuance can be designed. As part of the research, Samsung Electronics personnel have consulted SK Hynix, which recently completed an ADR issuance and listed on Nasdaq.
Hyperliquid Holds Meeting with SEC Crypto Task Force on Crypto Asset Regulation Issues
According to the memorandum, on July 14, 2026, SEC Crypto Task Force staff held a meeting with representatives from Hyperliquid Policy Center, Highland Labs Pte. Ltd. (Hyperliquid Labs), XYZ Ltd., and Sullivan & Cromwell LLP to conduct in-depth discussions on crypto asset regulation methods and topics such as the technical architecture and market ecosystem of the Hyperliquid protocol.
Today's Market Conditions
Recommended Reading
Wall Street's Six Major Banks Q2 Performance Collectively Positive: Goldman Sachs Profit Doubles Up 8%, SpaceX IPO Becomes "Strongest Catalyst"
https://www.techflowpost.com/article/32563
On July 14, JPMorgan, Goldman Sachs, Bank of America, Citigroup, and Wells Fargo, five major banks, released Q2 financial reports on the same day, all exceeding expectations. Goldman Sachs EPS $20.98, almost double last year's, stock price rose nearly 8% to a historic high; JPMorgan net profit of $21.2 billion set a quarterly record. The severe market volatility brought by geopolitical conflicts instead allowed trading desks to earn handsomely, and SpaceX's largest IPO in history ($86 billion) injected huge fee income into investment banking business. But "beating expectations" does not equal "rise", Citigroup performance fully beat expectations but fell 4.5%, JPMorgan fell 2% in pre-market before reversing. Morgan Stanley releases results on July 15, market expects EPS to increase over 30% year-over-year.
The five Wall Street banks submitted their results on the same day on July 14, with performance reports increasingly impressive.
Goldman Sachs set the strongest single-quarter performance in company history. JPMorgan net profit refreshed historical records. Bank of America, Citigroup, and Wells Fargo also all exceeded market expectations. However, stock price trends were severely differentiated, Goldman Sachs rose nearly 8% touching historic highs, Citigroup instead fell 4.5%. In June, SpaceX listed raising $86 billion, valuation $1.77 trillion, becoming the largest IPO in history, almost every major bank gained huge fees from it.
Podcast Notes | Wall Street 30-Year Veteran US Stock Barbell Strategy: Buy Apple Nvidia Microsoft for Tech, Configure Industrial Financial Medical for Defense
https://www.techflowpost.com/article/32561
Art Hogan has worked on Wall Street for more than thirty years, former Jefferies Chief Market Analyst, Lazard Capital Research Head, now Chief Strategist at B. Riley Wealth, and a regular on CNBC/Bloomberg. This episode's title is "Pullback Manual", but the core is actually a debate about concentration and diversification: When your Nvidia rises from 5% position to 12%, do you continue to enjoy the benefits of concentrated betting, or admit the portfolio is already imbalanced?
Hogan's answer is a barbell: one end continues to hold his three most favored tech stocks (Apple, Nvidia, Microsoft), the other end adds positions to three sectors that are making a comeback (Industrial, Financial, Medical). He gave a S&P 500 year-end target of 7800 points, leaning upside even possibly touching 8000. But he also made the Sword of Damocles very clear: If the Iran situation drags on until Labor Day and oil prices are still in the $75-80 range, Q3 earnings growth rate could be directly halved.
Robinhood Chain Comprehensive Review: Besides cashcat and other memes, Which Projects Are Worth Watching?
https://www.techflowpost.com/article/32553
Two weeks after Robinhood Chain mainnet launch, the ecosystem has gradually shifted from Meme-driven to infrastructure and financial application-driven. As the hype for memes like CASHCAT cools down, native projects such as Arrow Finance, INDEX, Arcus, and Rialto are beginning to become the focus of market attention, and whether Robinhood Chain can truly fulfill the "on-chain financial infrastructure" narrative still depends on whether tokenized stocks and RWA ecosystems can form real demand.
Morgan Stanley Research Report Interpretation: Apple's Price Hike Game is Essentially Hedging Against Chip Cost Explosion
https://www.techflowpost.com/article/32551
Morgan Stanley released the latest research report on Apple, the title looks very tempting: "Price Increases Bring Profit Improvements". But the story is actually not that simple. Apple increased prices for Mac, iPad, and accessories by 15-54% in the past two weeks, while iPhone remained unchanged. On the surface, this is using the lack of price sensitivity in demand to extract profits. But the deep logic is exactly the opposite: these price increases are forced, hedging against the crazy rise in memory chip costs. DRAM costs are expected to rise 190% in 2027, NAND rise 280%. If Apple does not raise prices, gross margin will be eaten up. This is survival self-defense. Morgan Stanley's hint is clear: iPhone will increase price by $200 in September, rather than the $100-150 previously assumed by models. Behind this number is a cost war. Target price $360, compared to current $317 there is a 34.4% increase, but the implied risk is consumer tolerance to this round of price increases.
Only 67 of Top 1000 Crypto Projects by Market Cap Have Wikipedia Pages, ChatGPT's "Understanding" of Crypto Industry Being Distorted
https://www.techflowpost.com/article/32552
Crypto communication agency Chainstory audited the Wikipedia coverage of the top 10,000 tokens by CoinGecko market cap, finding that only 67 of the top 1,000 have entries. Wikipedia is the single most cited source by ChatGPT (accounting for about 7.8% of total citations), which means AI tools have systemic blind spots in their cognition of the vast majority of crypto projects. $15 billion Hyperliquid, $5 billion Sui both have no Wikipedia pages.
The crypto industry hardly exists on Wikipedia.
According to CoinDesk report on July 14, a research report released by crypto communication agency Chainstory shows that ranked by CoinGecko market cap, only 67 of the top 1,000 crypto projects have Wikipedia entries, with coverage less than 7%. In the current situation where AI tools are increasingly becoming the main channel for users to obtain information, this gap is systematically affecting the understanding and presentation of the crypto industry by models such as ChatGPT.
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