Anthropic $1T, Polymarket Denial, HK Warning, Pump.fun Burn

The crypto market ended the week with sharp contrasts, as several tokens posted strong double-digit gains while others faced notable declines amid shifting trader sentiment and ongoing volatility. Alongside price movements, major industry developments shaped the broader narrative, including rising private AI valuations, regulatory warnings over fraudulent stablecoins in Hong Kong, and renewed security debates around on-chain data transparency.

At the same time, tokenomics-driven moves such as large-scale burns continued to influence market reactions and short-term momentum across key projects.

Top gainers and losers

1. SKYAI (SKYAI) - jumped by 96.85% to $0.3868 this week;
2. Terra Classic (LUNC) - surged 49.31% during that time to reach a price of $0.00007558;
3. Humanity Protocol (H) - The price went up 34.21% to $0.1915.

1. MemeCore (M) - end week price of $3.11, falling this week by 32.34%.
2. World Liberty Financial (WLFI) - lost 27.02% to end the week at a price of $0.05602.
3. Official Trump (TRUMP) - finished the week down 20.37%, at $2.31;

Anthropic crosses $1 trillion implied valuation on private markets

Anthropic has reached an implied pre-IPO valuation above $1 trillion on Jupiter Prestocks market, marking a sharp increase in private market pricing for major artificial intelligence firms.

The valuation has climbed 733% since October 2025, according to data referenced by The Kobeissi Letter. The move places Anthropic alongside a small group of private companies, including OpenAI and SpaceX, that have traded at or near trillion-dollar valuations before public listings.

Private market pricing signals show strong alignment across different platforms. Forge Global CEO Kelly Rodriques told Business Insider that Anthropic trades near a $1 trillion valuation on the platform. Meanwhile, Hiive priced the company at $849 per share, implying a valuation of roughly $851 billion. That gap places Jupiter and regulated secondary markets within an 18% range of each other in valuation estimates.

The company’s latest funding activity adds context to the rapid revaluation. In February, Anthropic raised $30 billion in a Series G round at a $380 billion post-money valuation, led by GIC and Coatue. The firm also reported a $14 billion annualized revenue run rate, less than three years after generating its first revenue.

Investor interest continues to grow, with reports indicating that Google plans to invest up to $40 billion in Anthropic, starting with $10 billion at the current valuation level.

Market expectations around an IPO have also increased. Analysts and market participants continue to track whether private AI valuations can hold as capital markets shift toward public offerings.

Polymarket denies breach claims after dark web post

Polymarket has rejected claims that its platform suffered a data breach after a post on a dark web forum alleged access to large-scale user records.

Cybersecurity tracking accounts, including Vecert Analyzer, shared screenshots from DarkForums showing a user named “xorcat” claiming responsibility for more than 300,000 records. The post alleged exposure of around 10,000 user profiles containing names, profile images, proxy wallet identifiers, and base addresses.

Polymarket responded publicly on X and dismissed the claims as incorrect. The company said the material does not reflect a breach and pointed to publicly accessible blockchain and API data as the source of the information.

Polymarket also stated that its system design relies on transparency of on-chain data.

“Part of the beauty of being on chain is all our data is publicly auditable, this is a feature, not a bug. No data was leaked, it's accessible via our public endpoints & on-chain data. Instead of paying for the data, you can access it for free via our APIs.”

The alleged attacker claimed use of API flaws and data scraping methods. Security researchers questioned the validity of a true database breach, suggesting the dataset may be compiled from public sources.

Hong Kong warns public over fake stablecoins linked to HSBC and Anchorpoint

The Hong Kong Monetary Authority (HKMA) has issued a public warning over fraudulent stablecoins circulating under names that falsely claim links to newly licensed issuers in the region.

In a statement released Tuesday, the regulator said tokens called “HKDAP” and “HSBC” have appeared in the market, but both have no association with any approved stablecoin issuer.

“Members of the public should stay vigilant against fraudulent activities or scams that are purported to be associated with the licensees or their stablecoin issuance,” the HKMA said.

HSBC and Anchorpoint Financial also denied any involvement in the tokens. Both firms confirmed that no stablecoins have been launched in Hong Kong under their names. HSBC added that its planned Hong Kong dollar stablecoin is still in development and is expected to launch in the second half of this year through its PayMe service and HSBC HK Mobile App. Anchorpoint said its HKDAP token will be rolled out in phases starting in the second quarter.

The warning comes shortly after the HKMA issued Hong Kong’s first stablecoin licenses to HSBC and Anchorpoint Financial. Anchorpoint is a joint venture involving Standard Chartered, Animoca Brands, and Hong Kong Telecommunications.

Hong Kong has been building its digital asset framework since 2022, introducing licensing rules for exchanges and creating formal oversight for stablecoins. A regulatory sandbox launched in 2024 has allowed issuers to test token structures under supervision before approval.

The emergence of fake tokens alongside licensed entities highlights early-stage risks in the rollout of regulated stablecoin markets, where official launches and impersonation attempts are developing in parallel.

Pump.fun token jumps after $370 million burn reshapes supply strategy

Pump.fun (PUMP) rose more than 6% after the project executed a large-scale token burn worth roughly $370 million. The move reduced circulating supply by about 36%, according to on-chain data shared by the platform, while broader crypto markets moved lower.

Pump.fun carried out the burn through two separate transactions, marking one of the largest supply reductions linked to a meme-ecosystem token this year. The price reaction showed a short-term divergence from large-cap assets that faced selling pressure during the same period.

The project described the action as a shift toward rebuilding market confidence. In a statement on X, Pump.fun said concerns had grown around the long-term structure of its buyback system and how repurchased tokens would be handled.

“Over the past ~9 months, despite being one of the biggest revenue-generating platforms in crypto and allocating 100% of revenue to buybacks, we believe there was a lack of trust in the longevity of the business,” the team said.

Alongside the burn, Pump.fun introduced a new framework that routes 50% of protocol revenue into structured buybacks and burns. The mechanism covers income from bonding curves, PumpSwap, and its terminal products, with funds flowing through intermediary wallets before final token destruction.

The remaining revenue stays allocated to operations, including development, hiring, marketing, and acquisitions. The buyback system runs through an irreversible smart contract set for one year, creating a fixed execution schedule for supply reduction and treasury planning.

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