Anthropic trades on Hyperliquid without selling a single share

A Hyperliquid perpetual linked to Anthropic's implied value traded after the company's investor briefing this week, with a reported $1.95 trillion mark and almost $21 million of turnover in the previous 24 hours. The contract is a wager settled between traders. It grants no Anthropic stock, no claim on company earnings and no ability to redeem for a share. Its most important unresolved question is how a market sets a reference price for a company whose shares do not trade publicly. MarketWatch reported an Anthropic linked Hyperliquid contract near $1.95 trillion on October 15.

Source: crypto.news