Crypto Morning Brief: Anthropic Files IPO Prospectus, Relay Hit by Sandwich Attack Due to API Vulnerability

Author: TechFlow

Yesterday Market Dynamics

Anthropic Discloses IPO Prospectus, FY2025 Revenue Surges 1088% Year-on-Year

According to Jinshi Data, Anthropic's recently disclosed IPO prospectus reveals that the company outlined plans for developing transformative artificial intelligence technology in its investor pitch materials. The document details its specific roadmap for breakthroughs in model capabilities and commercialization.

In terms of financial performance, Anthropic's revenue reached $4.59 billion for fiscal year 2025, marking a 1088% year-on-year increase. The prospectus notes that this significant growth was primarily driven by the rapid expansion of corporate demand for AI infrastructure. The disclosure of these key metrics provides clear performance backing for its subsequent IPO progress.

OpenAI Cancels GPT-6.1 Astra Launch Plan Due to Security Concerns

According to Jinshi Data, The Wall Street Journal reported that OpenAI has canceled the planned launch of its next-generation AI model, GPT-6.1 Astra, which was scheduled for release within days to weeks. The cancellation follows the identification of security issues during internal testing.

Saachi Jain, head of OpenAI's safety systems, stated that while the new model demonstrates improvements in complex end-to-end tasks and writing capabilities, it has significantly regressed in safety compared to previous versions. The model performed poorly in tests measuring "alignment," lacking the ability to consistently adhere to human expected behaviors.

Specifically, Saachi Jain pointed out that GPT-6.1 Astra was detected exhibiting a higher degree of deception, failing to consistently truthfully inform users about its actual actions taken or avoided, thereby failing to meet safety release standards.

Manus 2.0 Officially Released: Introduces Cascade Framework, Cloud PC, and Brand-New Standalone Personal Agent App Cue

Manus officially launched version 2.0, featuring multiple updates across its underlying architecture, creative tools, and application layer.

Underlying Architecture & Compute Upgrades: Powered by the newly developed self-built Agent framework Cascade, testing shows a 23.2% reduction in token consumption, a 28.2% decrease in task completion time, and a 32% drop in costs. Additionally, a "Cloud PC" has been introduced to provide an exclusive 24/7 operating environment, supporting automated workflows triggered by multi-software events.

Desktop Upgrade to Manus Studio: Focused on professional creative scenarios, it introduces a new "Video Editor" supporting timeline fine-tuning and Alchemy Creative Mode, alongside "Game Dev" features covering asset management, code modification, and cross-platform multiplayer deployment; combined with Computer Use technology to enable remote desktop control and operation.

Launch of Standalone App Cue: Designed exclusively for personal Agents, supporting cross-platform operation. Each Agent possesses an independent identity (email, phone, wallet, and runtime environment), enabling autonomous communication, budget-controlled payments, and multi-Agent collaboration. Cue is currently in its Early Access phase.

Relay Suffers Sandwich Attack via API Vulnerability, Will Compensate Affected Users with Approx. $312,000

Cross-chain payment and trading protocol Relay disclosed a vulnerability in its API interface that leaked pending transaction information. Maximal Extractable Value (MEV) searchers exploited this flaw to execute sandwich attacks between September 12 and 26, generating approximately $136,000 in profits.

The incident affected approximately 5,600 users, with a median loss of $11.88 per user. Relay stated it will pay a $50,000 bug bounty to the vulnerability reporter and fully compensate affected users, totaling approximately $312,000 in compensation. Funds will be directly distributed to affected users' wallet addresses without requiring manual claims. The issue has been pinpointed, and the team continues to enhance trade execution privacy and security.

Pons to Launch Social Trading Features Soon

Pons founder @MEADGod posted on X stating that social trading features are imminent. Community member @byTheGentleman added that the feature aims to compete with FOMO, potentially including real-time on-chain buy/sell activity, wallet tracking with instant alerts, verified profit-and-loss records, and trader leaderboards, alongside expansion to Solana via Pump.fun.

BlockTower Founder Accuses Coinbase of Concealing Over $1 Billion in Hacking Losses

Ari Paul, founder and CIO of crypto hedge fund BlockTower Capital, posted on social media claiming that Coinbase caused his firm to lose $25 million in funds several years ago. Paul accused Coinbase of allegedly concealing large-scale, recurring security breaches and refusing to return the associated funds.

Furthermore, tracking investigations reveal that at least a dozen other institutions were similarly impacted, with concealed amounts exceeding $1 billion. Due to ongoing legal proceedings, specific details have not been further disclosed.

Official Coinbase responded on its social media platform, stating that a direct message had been sent to initiate further verification and communication, and to follow up accordingly.

BNB Treasury Company CEA Industries to Be Renamed BNB Standard

According to an official announcement, Nasdaq-listed BNB treasury company CEA Industries (ticker: BNC) has officially been renamed BNB Standard Corporation, effective September 29. The stock ticker remains unchanged. The new name was selected by community vote on X, receiving approximately 47% of votes, placing it first.

Coinbase Approved by CFTC to Establish Clearing Organization

Coinbase announced it has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to register Coinbase Clearing LLC as its designated clearing agency (DCA), establishing itself as a proprietary derivatives clearing organization (DCO).

Combined with its previously established futures commission merchant (FCM) Coinbase Financial Markets and designated contract market (DCM) Coinbase Derivatives, this approval enables Coinbase to build a complete CFTC-regulated derivatives infrastructure loop. Coinbase Clearing supports USDC as collateral and enables 24/7 settlement, allowing Coinbase to directly create and settle fully collateralized contracts to improve derivative listing and operational efficiency.

Today's Market Overview

Recommended Reading

Coinbase Secures U.S. Clearing License, An Infrastructure "Shadow War" Ignored by the Market

https://www.techflowpost.com/article/34307

Coinbase has obtained the U.S. derivatives clearing organization (DCO) license and is further integrating trading, brokerage, clearing, and USDC settlement. Currently, the license only permits fully collateralized products, having limited short-term impact on revenue and COIN stock price, but it marks the first time USDC serves as a 24/7 settlement collateral in a regulated clearing system. The article suggests that what truly warrants attention is the potential future expansion of the license to leverage/margin clearing, which could grant Coinbase greater product design authority and settlement control, pushing the U.S. crypto market closer to traditional financial infrastructure.

Podcast Notes | Michael Saylor: Our BTC "Gold Rush" Has Only 9 Years Left, The Doors Will Close Completely After 2035

https://www.techflowpost.com/article/34306

Michael Saylor believes Bitcoin's true "gold rush" may only last until 2035: he predicts future BTC growth will expand from ETFs, treasury companies, and digital credit to further include bank mortgages, with bank credit potentially serving as a major driver over the next 36 months; meanwhile, Strategy is transforming highly volatile BTC into low-volatility, high-yield digital credit products via STRC. Saylor also argues that AI will make everyday consumption and services increasingly affordable, but scarce assets will become more expensive, and BTC's long-term value lies precisely in its cap of 21 million coins.

Behind the Doubling of $GRASS in Two Weeks: From Selling Data Packets to "AI Agent Networking", Legacy DePIN Projects Extend Lifespan Through Narrative Anchoring

https://www.techflowpost.com/article/34304

The "narrative anchoring shift" behind Grass's two-week doubling: Grass is transitioning from its past role as a DePIN project selling AI training data to becoming an AI real-time information layer and agent networking service, utilizing millions of residential IPs to help AI bypass anti-scraping measures and access web pages in real time. Fundamentally, H1 2026 revenue already reached $17 million, with full-year training data revenue targets set between $65–75 million. However, the core issue remains how profits flow back to the GRASS token—weak buyback intensity, declining node yields, and insufficient transparency in staking returns mean this rally currently resembles a valuation restructuring driven by a new AI narrative. Its long-term sustainability depends on whether actual revenue and token value capture can materialize.

Will the Buyback Narrative Face New Variables? SEC Suddenly Clarifies Regulatory Red Lines: Not All "Buy Tokens with Profits" Are Absolutely Safe Anymore

https://www.techflowpost.com/article/34296

The SEC updated its regulatory guidance on token buybacks, drawing a new red line for the "buyback narrative": protocols that operate normally and lack centralized controlling entities executing automatic buybacks are closer to compliant mechanisms. Conversely, projects where foundations, teams, or governance bodies dictate buyback sizes while marketing "profit redistribution to holders" face higher regulatory risks. The article heavily contrasts projects like HYPE, UNI, PUMP, and ENA, arguing that future markets cannot focus solely on buyback amounts but must also examine who controls the buybacks, how funds flow, and whether the protocol is truly decentralized.