Anthropic has only just filed its IPO paperwork, and a bunch of “pre-IPO perpetuals” are already rushing onto the market on-chain. Put simply, they give you a valuation figure you can trade with 10x or 12x leverage—and they have absolutely nothing to do with owning shares.
Just look at how all over the place these “valuations” are right now:
Binance’s ANTHROPICUSDT was at 1,880 USDT on October 27. Using its own reference figure of 1 billion shares, that implies a valuation of about $1.88 trillion.
The IPO valuation range reported by the FT is $1.5 trillion to $1.75 trillion.
The NEAR launch post still quotes the $965 billion figure from May.
Same company, but shill accounts just pick whichever number suits them. Those using $965 billion say, “It hasn’t pumped yet—get in now.” Those using $1.88 trillion say, “The market is more bullish than Wall Street.” They’re all you, and they’re all right.
And that NEAR selling point about “undisclosed positions”—I honestly don’t see how that benefits retail traders. Your counterparties can’t see your positions, and you can’t see theirs, so it’s even harder to tell who’s taking whom for a ride.
Perp prices are just quotes traded back and forth between people using leverage. After the IPO, they’ll also have to be converted into regular futures contracts. Check how the rules will work and how funding fees will be calculated before touching them. Don’t mistake “you can trade it” for “you own pre-IPO shares.”
#Anthropic #PreIPO
Just look at how all over the place these “valuations” are right now:
Binance’s ANTHROPICUSDT was at 1,880 USDT on October 27. Using its own reference figure of 1 billion shares, that implies a valuation of about $1.88 trillion.
The IPO valuation range reported by the FT is $1.5 trillion to $1.75 trillion.
The NEAR launch post still quotes the $965 billion figure from May.
Same company, but shill accounts just pick whichever number suits them. Those using $965 billion say, “It hasn’t pumped yet—get in now.” Those using $1.88 trillion say, “The market is more bullish than Wall Street.” They’re all you, and they’re all right.
And that NEAR selling point about “undisclosed positions”—I honestly don’t see how that benefits retail traders. Your counterparties can’t see your positions, and you can’t see theirs, so it’s even harder to tell who’s taking whom for a ride.
Perp prices are just quotes traded back and forth between people using leverage. After the IPO, they’ll also have to be converted into regular futures contracts. Check how the rules will work and how funding fees will be calculated before touching them. Don’t mistake “you can trade it” for “you own pre-IPO shares.”
#Anthropic #PreIPO
