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Sberbank plans to accept bitcoin, Ethereum and the Tether stablecoin as loan collateral after the Bank of Russia permits the assets for public circulation and the country’s new crypto rules take full effect. Anatoly Popov, deputy chairman of Sberbank’s management board, outlined the plan in an… Read the full story at The Defiant

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Nvidia is in talks to back the much-awaited Anthropic IPO (initial public offering) with as much as $10 billion. The money would help the artificial intelligence company chase the largest stock market debut on record.

Reuters reported the talks on Friday. Anthropic is seeking up to $100 billion at a valuation near $2 trillion, and neither company has confirmed those figures.

What Beating SpaceX Actually Takes

SpaceX set the record in June. It raised $75 billion at roughly $1.8 trillion. The stock then closed 19% higher on day one, one of the biggest IPO returns ever.

Anthropic has to clear both marks. Its $100 billion target beats the raise, and $2 trillion beats the valuation. The record falls if the deal prices as reported.

That pricing is the hard part. An anchor investor agrees to buy a large block of shares before a listing opens. That early order tells other buyers the price is credible.

Nvidia’s $10 billion would cover roughly a tenth of the raise. The chipmaker committed the same amount in November 2025. It also guarantees Nvidia’s $105 billion backstop on AI data center leases.

Traders Already Price Anthropic Above SpaceX

Nineteen exchanges now list pre-IPO perpetual futures on Anthropic. These contracts let traders bet on what a private company is worth before it lists. Kraken, Coinbase and Binance all offer them.

Those contracts implied an average valuation of $1.94 trillion at the start of September, according to CoinGecko. That already sits above the $1.8 trillion SpaceX carried at pricing.

Polymarket lets users bet real money on future events. There, traders give the IPO only 67% odds of completing by October 31.

Those odds reach 85% by November 15 and 90% by year end, across $2.89 million in volume. The market expects the record to fall, just not necessarily before the midterm elections.

Anthropic filed confidentially in June and still has to publish its prospectus.

The post Nvidia Could Make Anthropic IPO Bigger than SpaceX With $10 Billion appeared first on BeInCrypto.

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BitMine Immersion Technologies said in its latest staking disclosure that it had 5,067,309 ETH staked as of Aug. 30, a position it valued at $12.7 billion using an ETH price of $2,511. The reported staked balance was unchanged from Aug. 9 through Aug. 30. BitMine separately said it acquired 53,501… Read the full story at The Defiant

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Prediction market traders now put a Federal Reserve rate increase ahead of a hold for the September meeting, after Chair Kevin Warsh told the Jackson Hole symposium on Friday that this summer's inflation readings had not convinced him underlying trends were improving. Bitcoin has given back less… Read the full story at The Defiant

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Ontology stopped producing blocks on its mainnet on Aug. 31 after developers flagged a potential security concern during a daily check, freezing onchain transactions while the network’s technical team and validators conduct an emergency review. The chain’s official explorer listed block 20,770,893… Read the full story at The Defiant

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A memecoin built around the short interest in Hims & Hers Health has absorbed more than half of the tokenized shares of the company on Robinhood Chain, and with that float locked away the tokenized stock printed four and a half times the price of the actual equity over the weekend. Robinhood's… Read the full story at The Defiant

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At Geneva’s Onchain Leaders Gathering, BeInCrypto moderated a discussion on the infrastructure needed to bring capital markets onchain. Experts from Zama, G-20 Group, Blobb.io, and Rex Change argued that tokenization now faces a harder test of making onchain markets liquid, private, compliant, and genuinely useful for institutions. 

Nasdaq and LSEG are pushing stocks onto blockchain rails. A recent viral fight on social media over AMC tokens shows why the infrastructure underneath them now matters more than the token itself.

Wall Street’s Tokenization Race Accelerated This Week.

Nasdaq agreed to invest $100 million in Kraken parent Payward to develop infrastructure for tokenized equities. Days earlier, London Stock Exchange Group partnered with Payward on tokenized UK shares and a planned 24-hour trading venue.

Yet the harder question is already emerging: What exactly happens when stocks move onchain?

This was the central talking point of “The New Financial Stack,” a panel moderated by BeInCrypto at the Onchain Leaders Gathering in Geneva on September 8.

Florent Gabriel of Blobb.io, Jonathan Mathai of G-20 Group, Antoine Hello of Zama, and François Meurier of Rex Change discussed the barriers institutions still face across infrastructure, liquidity, confidentiality, and market access.

“True enterprise adoption happens when we move beyond isolated proofs-of-concept,” said Antoine Hello, Director of Financial Institutions at Zama, which develops confidential blockchain infrastructure for financial institutions. 

Ahead of the event, Hello argued that institutions need public blockchain infrastructure capable of handling real volume while protecting sensitive financial information.

François Meurier framed the challenge more directly.

“Not in theory but how it works in practice. We do this every day,” said Meurier, Founder and Managing Director of Rex Change, a Geneva-based regulated crypto exchange and OTC service.

A Parallel Stock Market Is Already Forming

The market is no longer tiny enough to ignore. RWA.xyz tracked $2.91 billion in distributed tokenized stocks and $13.31 billion in monthly transfer volume as of September 10. More than 3.17 million addresses held these assets.

However, growth is uneven. Holder numbers jumped 174% over 30 days, while monthly transfer volume dropped almost 53%. That gap matters if institutions expect deep, reliable markets rather than simply more tokens.

Tokenizing a Stock Does Not Solve the Stock Market

AMC has already exposed another problem: ownership.

CEO Adam Aron attacked Robinhood after it offered tokenized exposure to AMC without the company’s approval. The products track the stock, but holders do not own AMC shares or receive normal shareholder rights. Robinhood CEO Vlad Tenev has defended the structure, arguing that companies cannot control every third-party financial product referencing their shares.

The World Federation of Exchanges has gone further, calling some third-party tokenized equities “mimics” and warning that they could weaken investor protections and market integrity.

That tension also surfaced elsewhere in Geneva.

“We’re very much in production now,” said Diana-Cezara Toader, Head of Digital Assets at UBS Asset Management, during a separate panel on moving tokenization from pilots into live markets. She pointed to liquidity, common infrastructure and regulation as remaining barriers to wider adoption.

Francesco Ranieri Fabracci reduced the problem to one sentence.

“To tokenize something, you need to make the token useful,” said Fabracci, Head of Tokenization Expansion at Tether, where he works on Hadron, the company’s platform for bringing real-world assets onchain.

Nasdaq and LSEG suggest Wall Street is ready to test that idea at scale.

Now the infrastructure has to prove that an onchain stock can deliver the liquidity, privacy and investor rights that made the original stock useful in the first place.

The post Wall Street’s Tokenized Stock Rush Is Getting Messy appeared first on BeInCrypto.

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Hyperliquid Labs is in advanced talks with Payward, Kraken’s parent company, about bringing its perpetual futures to U.S. traders, Bloomberg reported on Aug. 31, citing people who were not authorized to discuss the matter. According to the report, a deal would require regulatory sign-off and would… Read the full story at The Defiant

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Sam Bankman-Fried asked the U.S. Supreme Court on Thursday to overturn his fraud conviction stemming from the collapse of FTX, following high-profile pardons of Silk Road founder Ross Ulbricht and Binance co-founder CZ.

He is serving a 25-year prison sentence following his 2023 conviction, and his lawyers are also challenging an approximately $11Bn forfeiture.

The justices must first decide whether to hear the case. The court receives thousands of such requests each year and agrees to hear arguments in about 60 cases.

What Does the Petition from Sam Bankman-Fried Actually Challenge?

The petition challenges key parts of the case against Bankman-Fried, including the conviction and the forfeiture order.

• The conviction: His lawyers argue the trial court improperly prevented him from presenting evidence about whether FTX customers ultimately recovered their money.
• The forfeiture order: The defense argues that the roughly $11 billion forfeiture is excessive under the Eighth Amendment.
• A separate pardon application: Online records from the Office of the Pardon Attorney list Bankman-Fried’s request for a pardon from President Trump as pending.

Bankman-Fried was convicted on seven counts of fraud and conspiracy after a monthlong federal jury trial. In June, a three-judge panel of the U.S. Court of Appeals for the Second Circuit affirmed the judgment.

The appellate court described the case as involving the cryptocurrency exchange FTX and Alameda Research, the cryptocurrency trading firm that Bankman-Fried operated and controlled.

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What are SBF’s Lawyers Saying?

His lawyers have argued that FTX and Alameda held sufficient assets to repay customers and that the court’s limits on evidence about those assets deprived him of a fair trial. The petition points to FTX’s bankruptcy plan, under which virtually all creditors were promised cash payments, including interest, to recover their losses.

Federal prosecutors have maintained that FTX customers were defrauded through Bankman-Fried’s handling of their money, including the misappropriation of billions of dollars in customer funds. The Second Circuit said the government’s trial theory was that Bankman-Fried promised customers their funds would be secure on the platform and used only for cryptocurrency transactions, but transferred customer funds to Alameda and elsewhere for unauthorized purposes. The court affirmed the district court’s judgment.

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From Billionaire to Defendant: The Story of Sam Bankman-Fried

Bankman-Fried founded FTX in 2019 and grew it into one of the world’s largest crypto exchanges. The company’s growth brought him wealth and public prominence, and he became one of the world’s youngest billionaires and a top Democratic donor.

FTX collapsed in 2022 after a run on deposits forced the firm into bankruptcy. Bankman-Fried was arrested later that year in the Bahamas, where he had been living, and was extradited to the United States to face trial. The Second Circuit’s account states that FTX filed for bankruptcy in November 2022 after it could not meet customer withdrawal requests.

Bankman-Fried has maintained his innocence. Prosecutors characterized the case as one of the largest financial frauds in history and alleged that he stole billions of dollars from FTX customers while presenting himself as a responsible philanthropist.

What Happens Next

The Supreme Court has not indicated whether it will take up Bankman-Fried’s petition. Its decision on whether to hear the case will determine whether the challenge receives further consideration.

The pending pardon application is a separate matter from the Supreme Court petition. The Office of the Pardon Attorney, a division of the Justice Department, lists the application as a request for a pardon after completion of sentence and marks it as pending.

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The post FTX Founder Sam Bankman-Fried Takes Fraud Conviction to Supreme Court appeared first on Cryptonews.

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