Crypto Morning Brief: OpenAI Has Secretly Filed for IPO; Janus Henderson Invests in ENA and Plans to Launch ETF Product
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Crypto Morning Brief: OpenAI Has Secretly Filed for IPO; Janus Henderson Invests in ENA and Plans to Launch ETF Product
Apollo and Blackstone complete $35 billion financing round for Anthropic to expand AI infrastructure.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday’s Market Highlights
OpenAI Has Secretly Filed Its IPO Application with the U.S. SEC
According to its official announcement, OpenAI has confidentially submitted a draft Form S-1 registration statement to the U.S. Securities and Exchange Commission (SEC). The company has not yet determined a specific listing timeline and may require additional time.
Janus Henderson Acquires ENA Tokens and Enters Strategic Partnership with Ethena to Launch Compliant Investment Products
Per The Block, ANTIK—the blockchain division of Janus Henderson, a global asset management giant overseeing $480 billion in assets—has established a position in ENA tokens and signed a strategic partnership agreement with Ethena. Under the agreement, staked USDe will be used for cash management. Both parties have also committed to jointly developing compliant investment products based on USDe and ENA, including ETFs and ETPs, scheduled for launch in H2 2026. As part of the collaboration, Ethena has incorporated Janus Henderson’s JAAA strategy—which invests in AAA-rated CLOs—into the USDe reserve portfolio.
Circle Launches cirBTC: Ethereum Adds a 1:1 Bitcoin-Backed Wrapped Asset
According to an official announcement, Circle has launched cirBTC on Ethereum. cirBTC is a 1:1 native-BTC-backed wrapped Bitcoin token designed for on-chain financial use cases such as lending protocols, OTC trading, market making, treasury management, and settlement. It enables institutions to use BTC as collateral without selling it.
Circle states that the underlying BTC is held in custody by regulated entities and fully segregated from Circle’s corporate assets; cirBTC reserves will be verifiable on-chain via Chainlink Proof-of-Reserves. The product is currently live on Ethereum, with future expansion planned to the Arc network and broader multi-chain roadmap.
TON’s Native Token Toncoin to Be Renamed “Gram” on June 15, Ticker Changing from TON to GRAM
Per TON’s official announcement, the TON Vote community referendum concluded on June 8, with 81.22% of voters supporting the renaming of Toncoin to “Gram” and changing its ticker from TON to GRAM. A new logo has also been unveiled. The rebranding will take effect officially at 12:00 UTC on June 15, 2026. The blockchain network name “The Open Network” remains unchanged. User balances, addresses, smart contracts, NFTs, and DeFi positions are unaffected—no migration or action is required. Exchanges and ecosystem projects are expected to display the asset as “Gram (prev. Toncoin)” during the transition period and complete full updates by June 22. The official notice warns that any claim requiring users to “migrate” or “exchange” TON for GRAM is fraudulent.
DeFi Infrastructure Firm Morpho Raises $175 Million, Led by a16z Crypto and Paradigm
Per Fortune, DeFi lending protocol Morpho has raised $175 million at a $2 billion valuation, led by a16z crypto, Paradigm, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, IOSG Ventures, and Variant.
Morpho enables institutions to customize on-chain lending markets and risk parameters. It is already used by Coinbase, Kraken, Anchorage Digital, and Galaxy Digital. The protocol currently holds approximately $6.6 billion in total value locked (TVL), intensifying competition with traditional DeFi lending protocols like Aave—and plans to expand further into high-yield DeFi asset allocation sought by traditional financial institutions.
Humanity Protocol Hacked, Loss Exceeds $31 Million
Per Specter (@SpecterAnalyst), Humanity Protocol has been compromised, with losses exceeding $31 million. Fund transfers remain ongoing, and the attacker is converting stolen H tokens into ETH.
Private Key of Humanity Foundation Member Compromised; Official Urges Users to Avoid Interacting with Bridges and Liquidity Pools
Terence Kwok, founder of Humanity Protocol, confirmed that a foundation member’s private key was leaked, triggering a security incident. As a precautionary measure, the team has advised users not to interact with cross-chain bridges or any liquidity pools until safety is confirmed. The team is collaborating with security experts and exchange partners to address the issue and has pledged ongoing updates.
U.S. FDIC: Stablecoin Holders Are Not Covered by Deposit Insurance
Per PYMNTS, the U.S. Federal Deposit Insurance Corporation (FDIC) closed its public comment period on proposed implementing rules for the GENIUS Act on June 9. The proposal explicitly clarifies that stablecoin holders are not eligible for deposit insurance, underscoring regulators’ intent to distinguish stablecoins clearly from insured deposits.
As these regulatory proposals move toward final rulemaking, industry commentary reveals continued disagreement within the payments sector on stablecoin regulation—particularly regarding yield arrangements, incentive structures, and risks associated with deposit migration. Meanwhile, standard-setting organizations are advancing a universal reporting framework to support interoperability across stablecoin ecosystems.
National Internet Emergency Response Center (CNCERT): Certain AI Agent Skill Packages Pose Jailbreak and Crypto-Mining Risks
Per an official notice from China’s National Internet Emergency Response Center (CNCERT), certain AI agent skill packages (“Skills”)—circulated publicly under titles such as “LLM jailbreak” and “crypto-mining for profit”—have recently been identified as posing serious risks.
The “godmode” skill package employs system-prompt replacement and input obfuscation to induce large language models to bypass safety restrictions, potentially resulting in permanent account bans, privacy breaches, and legal liability. The “Bonero-Miner” skill package induces agents to download crypto-mining software; the mined cryptocurrencies feature strong anonymity properties, exposing users to passive involvement in money laundering and other illicit activities. Additionally, sustained high-load mining degrades device performance.
CNCERT recommends users obtain skills exclusively from official channels, adhere to the principle of least privilege, implement Skills whitelisting for enterprise users, and enforce tiered governance of AI agents. This report received technical support from Tencent, VolcEngine, Baidu, NSFOCUS, and Qi An Xin.
Apollo and Blackstone Finalize $35 Billion Financing for Anthropic to Expand AI Infrastructure
Per Bloomberg, Apollo Global Management and Blackstone Group have completed a $35 billion financing arrangement for Anthropic to scale its AI infrastructure.
Earlier reports indicated this funding will support Anthropic’s leasing of Google-custom AI chips. This marks another major financing deal amid the intensifying global AI race.
Market Data
Recommended Reading
Interview with Macro Analyst: AI Is Draining All Liquidity From U.S. Equities—Bitcoin’s Bottom Is $40,000
https://www.techflowpost.com/article/31974
Over the past decade, U.S. long-dated Treasury futures have depreciated 90% against gold—even as GDP continues growing. That means “90%” still isn’t enough. This sobering assessment comes from Luke Groman, founder of FFT LC and a macro strategist with 30 years of Wall Street experience.
In this interview, he lays out a stark yet internally consistent analytical framework: While the S&P 500 appears to reach new highs repeatedly, in reality just seven AI-related stocks are propping up the index—and Bitcoin, the “last liquidity smoke alarm,” is sounding the warning.
If you want to understand why Groman sold most of his Bitcoin near the top—and still hasn’t bought back; why he expects dollar-denominated equities to keep rising while gold- and Bitcoin-denominated valuations continue falling; and why technical indicators suggest Bitcoin may test the $40,000 level again, this podcast is essential listening.
Broadcom vs. AMD: Which AI Chip Stock Is the Best Bet After NVIDIA?
https://www.techflowpost.com/article/31973
This article compares two leading AI chipmakers’ divergent strategies: AMD competes head-on with NVIDIA in the general-purpose GPU market, while Broadcom enters the space by designing custom AI chips for clients including OpenAI, Meta, and Google. The author argues that although Broadcom’s stock pulled back after earnings, its custom-chip business boasts stronger customer stickiness and greater growth potential—advantages likely to widen further in the AI inference era. Compared to AMD, Broadcom currently offers superior long-term competitiveness and warrants closer attention.
Taiwan’s Role in the AI Supply Chain: Nine Taiwanese Stocks Highlighted by “New Stock God” Serenity
https://www.techflowpost.com/article/31971
This article outlines prominent X-platform investor Serenity’s latest thesis on Taiwan’s AI supply chain, focusing on three key areas: Co-Packaged Optics (CPO), ASICs (application-specific integrated circuits), and compound semiconductors—and names nine Taiwanese stocks poised to benefit. Serenity believes AI compute demand remains in the early stage of a supercycle, and that Taiwanese AI supply chains show no clear signs of bubble formation. In his view, the greatest risk lies not in geopolitics—but whether hyperscalers including Microsoft, Google, Amazon, and Meta slow their capital expenditures. So long as global AI infrastructure investment continues expanding, Taiwan—as a core node in the AI hardware supply chain—will remain a key beneficiary.
“Decentralized Identity” Project Collapses Over One Private Key: Post-Mortem of Humanity Protocol’s $31 Million Security Incident
https://www.techflowpost.com/article/31968
This article reconstructs the major security breach suffered by decentralized identity project Humanity Protocol: Due to a foundation member’s leaked private key, attackers gained control over multiple linked wallets and illegally minted 100 million H tokens on BNB Chain—causing over $31 million in losses and an immediate >90% crash in H’s price. Yet the incident did not subside with the official explanation of “private key leakage.” On-chain investigator ZachXBT and community members have raised questions about timing, fund flows, and the team’s background—casting suspicion of orchestrated involvement. The article further traces founder Terence Kwok’s controversial entrepreneurial history and the emergence of Everything, a new project incubated by the team—highlighting that, pending publication of the official forensic report, whether this event stems purely from a key-management failure—or something more deliberate—remains to be proven by on-chain evidence.
Elon Musk’s Dual-Game Move: Putting Rival Anthropic’s Money Into His Own IPO Prospectus
https://www.techflowpost.com/article/31964
This article examines a pivotal capital maneuver by Elon Musk ahead of SpaceX’s IPO: By including massive compute-leasing contracts with rivals Anthropic and Google in the prospectus, Musk successfully reframed market perception of xAI’s valuation logic. Previously seen as a perpetually loss-making entity burning cash to build data centers, xAI transformed—within weeks—into an AI infrastructure provider with $26 billion in annualized contract revenue. The piece dissects the commercial logic, contractual details, and latent risks behind two compute deals totaling over $70 billion—and notes that the sustainability of this revenue hinges on evolving client demand, 90-day exit clauses, and shifts in the AI compute cycle. With SpaceX set to list formally on June 12, markets will now price Musk’s novel “AI + Space” narrative for the first time.
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