Crypto Market Update: Anthropic Files for Nasdaq IPO

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Today's crypto news to know

Strategy halts Bitcoin buying, spends US$205 million on STRC buyback

Strategy (NASDAQ:MSTR) skipped its weekly Bitcoin purchase for the first time since mid-September, putting US$204.9 million into buying back its STRC preferred stock instead.

The company disclosed the buyback on Monday (October 26), and an SEC filing showed it also sold no shares through its at-the-market offering program between October 19 and 25. Strategy holds 848,517 BTC, which it bought for a combined US$64.02 billion at an average of US$75,446 per coin.

The company's recent purchases had been small. Strategy bought 267 BTC for US$22.1 million the previous week and 250 BTC for US$21.5 million the week before that. It spent US$29 million in the week it reported a US$21 billion third-quarter gain.

The STRC repurchase covered 2,068,459 shares and topped the US$193.1 million and US$192.4 million it spent in the two prior weeks. Strategy paid for it entirely from USD Cash, its general-purpose pool that also funds Bitcoin purchases. That balance fell to US$242.4 million from US$447.3 million a week earlier.

Its separate USD Reserve, which covers preferred dividends and debt interest, held at US$4.83 billion. Strategy raised its preferred stock buyback program to US$3 billion from US$2 billion a week ago, and US$956.8 million remains available. A separate program for MSTR common stock has US$1 billion left.

The pause comes as Strategy faces possible removal from MSCI’s equity indexes. On October 15, MSCI finalized a rule that bars “non-operating companies,” those whose balance sheets are dominated by a single asset, from its Global Investable Market Indexes from the close of November 30.

MSCI will publish the list of affected companies on November 11.

Anthropic files publicly for Nasdaq IPO under ticker “ANT”

Anthropic, the developer of the Claude AI models, made its IPO filing public on Monday (October 26), revealing first-half revenue of US$16.29 billion and a plan to list on the Nasdaq Global Select Market under the symbol “ANT.”

The company has not yet set the number of shares or a price range. Anthropic and existing shareholders will both sell stock, and the S-1 names Goldman Sachs and Morgan Stanley first among 24 underwriters.

The filing follows a confidential draft Anthropic submitted to the SEC in June. Reuters reported last month that backers hoped for a valuation above US$2 trillion. In May, Anthropic raised US$65 billion at a US$965 billion valuation.

The US$16.29 billion in revenue for the six months to June 30 compares with US$1.16 billion a year earlier. Full-year revenue reached US$4.59 billion in 2025, up from US$386 million in 2024 and US$41 million in 2023.

Anthropic booked a net loss of US$80.7 billion for the first half. A US$72.4 billion charge for changes in the fair value of convertible notes and other instruments accounted for most of it, and the filing says an increase in the company’s valuation primarily drove that charge. The operating loss came to US$693 million.

As of June 30, Anthropic had raised US$141.1 billion in total and held US$112.4 billion in cash and cash equivalents, plus US$19.3 billion in short-term investments. As of September 30, more than 1,900 customers had each generated at least US$1 million in revenue over the previous 12 months, and about 250 had generated at least US$10 million.

Hong Kong taps Solana Company as strategic enterprise

Hong Kong has named Solana Company a strategic enterprise, and the digital asset firm will run its Asia-Pacific business from the city.

The company said on Thursday (October 22) that it is the only blockchain infrastructure firm the Office for Attracting Strategic Enterprises (OASES) has onboarded in 2026. It joins OASES’s seventh batch of strategic enterprises, which the office unveiled at a signing ceremony in Hong Kong that day.

The Hong Kong government set up OASES in 2022 to attract companies of strategic importance and has brought in more than 140 firms so far.

The designation lands weeks after Hong Kong set a goal in its First Five-Year Plan to establish a “world-leading licensing and regulatory regime for digital assets.” The company placed it alongside the city’s other digital asset initiatives, including the Stablecoins Ordinance, the Hong Kong Monetary Authority’s Project Ensemble on tokenization and the trading of regulated stablecoins on licensed virtual asset platforms.

Solana Company has opened a Hong Kong office that will serve as its headquarters and as the base for its executive team to lead Asia-Pacific operations. Under its Pacific Backbone initiative, it plans to set up validator operations in the city, which it says will give Hong Kong a larger role in operating the Solana network.