Crypto Morning Brief: Anthropic to Mandate Employee Stock Trading Plan After Planned IPO, US Senate Releases Updated Clarity Act

Author: TechFlow

Yesterday Market Updates

US SEC to Hold Roundtable Meeting to Discuss Preparations for 24-Hour Stock Market Trading

According to the SEC official website, the U.S. Securities and Exchange Commission (SEC) announced that it will hold a roundtable meeting at its headquarters in Washington, D.C. on September 17, 2026, focusing on preparations for the transition of the U.S. stock market to 24-hour trading, with topics covering overnight trading support, market operations and resilience, as well as expansion opportunities and challenges. SEC Chairman Paul S. Atkins stated that this move aims to align the U.S. stock market with global continuous trading markets while balancing investor protection.

Coinbase Invests in Abu Dhabi Sovereign Wealth Fund Mubadala's Tokenized Product

According to Fortune, Abu Dhabi sovereign wealth fund Mubadala Capital announced a partnership with Coinbase and infrastructure provider KAIO to tokenize its evergreen private market fund, issuing compliant on-chain tokens to qualified investors. Coinbase will use its Base blockchain as one of the underlying networks and purchase the token itself, bringing the Mubadala fund onto its balance sheet.

It is reported that this is the first time a major U.S. listed company has used compliant tokenized assets for native on-chain treasury management. The product has currently attracted approximately $75 million in funds, with investors covering traditional institutions and crypto-native allocators. Mubadala manages assets nearing $400 billion, and this tokenization aims to break through the high barriers of traditional private equity and expand the potential investor base.

Bitcoin Security Consortium Officially Established, Nine Institutions Commit $15 Million Over Three Years

According to the official press release, Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy, nine leading financial institutions and Bitcoin companies, jointly announced the establishment of the Bitcoin Security Consortium on July 23, 2026. Each member independently committed to contributing a total of $15 million over the next three years to support long-term security research for the Bitcoin network, with a focus on development work in the field of post-quantum cryptography. Daily affairs of the consortium will be coordinated on a voluntary basis by Mike Schmidt, Executive Director of Brink, without intervening in protocol development or specific change decisions, and will regularly release Bitcoin security status reports to investors and the public.

U.S. Senate Releases New Version of Clarity Act, Incorporating Developer Protection and Digital Asset Ethics Provisions

According to The Block, Senate Republicans have released the latest text of the Clarity Act, integrating previous versions from the Agriculture Committee and the Banking Committee, planned to be submitted for a full Senate vote as early as next week.

The new version of the bill adds digital asset ethics provisions, prohibiting public officials and their spouses from issuing or sponsoring digital assets, but still allowing investment in related assets; this provision will expire at noon on January 20, 2029. The bill also incorporates the 'Blockchain Regulatory Certainty Act', providing a legal safe harbor for non-custodial software developers, clarifying that they do not belong to money transmission institutions. Overall, the bill has made progress in advancing U.S. digital asset market structure legislation, but whether it can gain sufficient support from Democrats remains uncertain.

Anthropic Plans to Mandate Employee Stock Trading Plan After IPO

According to The Information: Anthropic is considering an unconventional arrangement for employee stock sales after going public, planning to mandate a 10b5-1 stock trading plan for all employees.

DeepSeek's Liang Wenfeng: Nvidia's Moat is Crumbling, Huawei Super Nodes Can Fully Replace

On July 23, in leaked internal talks from DeepSeek's investor exchange meeting, DeepSeek founder Liang Wenfeng elaborated on core views regarding the domestic AI computing power industry and ecosystem development. He stated that the substitution of domestic AI chips is currently facing a historic opportunity, there are no adaptation barriers for its hardware and ecosystem, Nvidia cannot block the substitution process, and the only current problem is insufficient production capacity; it is expected that within a year, the market's perception of domestic chips as 'unusable' or 'hard to use' can be reversed.

He pointed out that Nvidia's CUDA ecosystem moat is crumbling rapidly, and multiple industry changes combined with export controls have opened a development window for domestic AI chips. He revealed that DeepSeek has cooperated with Huawei, obtaining 16,000 950 cards to run through the ecosystem; Huawei's 950 super nodes can fully replace Nvidia GB200 and GB300 in terms of performance and price, and he holds an optimistic attitude towards the development of the domestic computing power industry.

Cathie Wood Strongly Supports SpaceX: May Become 'The Most Important Company in Global History'

Although SpaceX (SPCX.O)'s stock price has fallen significantly below the IPO price, Wall Street star fund manager and head of Ark Invest, Cathie Wood, still strongly supports it, stating that this aerospace and satellite network pioneer company could become 'the most important company in global history'. Ark Invest, under Cathie Wood, also purchased SpaceX stocks through multiple ETFs on Wednesday, including ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (BARKQ), ARK Next Generation Internet ETF (ARKW), and ARK Space Exploration & Innovation ETF (ARKX). It is reported that this transaction purchased a total of 121,384 shares; calculated at SpaceX's closing price of $115.26 on the day, the total investment amount is approximately $14 million.

Arthur Hayes Purchased Another 644.34 ETH 8 Hours Ago, Worth Approximately $1.25 Million

According to on-chain analysis platform Lookonchain, Arthur Hayes bought another 644.34 Ethereum 8 hours ago, worth approximately $1.25 million. Within the past 8 days, he has cumulatively purchased 3,270 Ethereum, with a total value of approximately $6.27 million, and an average buy price of approximately $1,917.

Circle Partners with Toss to Explore South Korea Blockchain Payment Infrastructure and Stablecoin Applications

According to official news, Circle announced a partnership with South Korean fintech platform Toss and Toss Bank to explore blockchain-based payment infrastructure and stablecoin technology. Both parties will evaluate feasible opportunities to advance stablecoin payment applications on the fintech platform widely used in South Korea.

Today's Market Performance

Recommended Reading

Podcast Notes | Musk Spent $1 Billion of His Own Money to Buy a Power Generation Fleet, Just to Power GPUs?

https://www.techflowpost.com/article/32766

Musk spent approximately $1 billion of personal funds to quietly acquire a company called APR Energy. This company does not make chips, does not make rockets, and does not work on AI models; it does only one thing: mounting gas turbines on trailers, transporting them to your data center campus, and powering up your GPUs within a few days. A person who has shouted for solar energy transition for 20 years turned around and bought fossil fuel power generation equipment; this matter itself illustrates where the real bottleneck of the AI arms race lies.

This episode starts with this acquisition, breaking down two rotations currently happening: first, memory stocks (DRAM, HBM, NAND) going from surge to correction, but underlying demand has not changed at all; second, funds are starting to flow into the power infrastructure sector. The two hosts sorted out the complete power technology stack from mobile gas turbines (APR Energy), solid oxide fuel cells (Bloom Energy), gas turbines + grid equipment (GE Vernova) to small modular nuclear power plants (Valor), believing that power is the next frontier of AI investment in the second half of 2026.

King of Leverage Takes a Bow: BitMEX is Dead, Perpetual Contracts Live On

https://www.techflowpost.com/article/32763

This article tells how BitMEX went from the most influential leveraged trading platform in the crypto industry to taking a bow, but the perpetual contracts it created have become core financial tools being absorbed by the entire crypto market and even traditional finance.

Goldman Sachs Research Report Interpretation: IPO Financing Scale Breaks Records, Three Experts Believe Market Alarm Has Not Yet Sounded

https://www.techflowpost.com/article/32762

U.S. IPO market financing amount in 2026 has exceeded $125 billion, breaking the full-year record of 2021. The market is worried about two things. Does this count as a warning signal of the end of the cycle? Can the market digest so many new stocks?

Goldman Sachs invited three experts, namely its own Chief U.S. Equity Strategist Ben Snider, IPO research authority Jay Ritter, and Acadian fund manager Owen Lamont. The three have different views. Snider says no need to worry too much, late-cycle signals have not yet appeared, and market digestion capacity is underestimated. Ritter says high issuance volume does predict low returns, but this signal is only slightly better than random. Lamont says the issuance wave is one of the four horsemen of the bubble, but may mean the bubble has just begun, far from the time of ending.

The consensus of the three is that IPO quantity is far lower than during historical bubble periods, first-day gains are not out of control, and the real danger signal has not yet lit up.

AI is Moving from a 'Tool' that Helps You Work to a 'Labor Market' to Generate Income for You

https://www.techflowpost.com/article/32765

The article believes that AI is evolving from a tool for improving efficiency into 'digital labor' capable of autonomously creating value. Future Agents will not only execute tasks but also enter the market to take orders, pay, collaborate, and form a complete economic cycle. But currently AI still lacks infrastructure such as identity, payment, reputation, and dispute resolution, limiting its true participation in economic activities. OKX.AI is attempting to build this Agentic Economy infrastructure, through Agent markets, on-chain wallets, payment protocols, and settlement networks, turning AI from a 'tool used by people' into an 'economic participant capable of making money'. As AI Agents begin to trade autonomously, the model of one person managing multiple AI labor forces and creating a 'one-person company' may become the next wave of entrepreneurship.