‘Anthropic IPO Is Going to Rip’: Arthur Hayes Loads Up on Crypto Ahead of Debut

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

The first sale of a private company's shares to the public, after which the shares trade on a stock exchange.

An IPO raises money for the company and lets early owners and investors sell part of their stake.

Computer systems that perform tasks that normally require human intelligence, such as understanding language, recognising images or making decisions.

AI is changing work, media and public services, raising questions about jobs, safety and regulation.

The set of exchanges where shares of public companies are bought and sold.

Market moves reflect investor expectations about companies and the economy, and affect savings and pensions.