Crypto Morning Brief: DeepSeek secures over $7 billion in funding; Coinbase to list tokenized U.S. equities with true 1:1 backing
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Crypto Morning Brief: DeepSeek secures over $7 billion in funding; Coinbase to list tokenized U.S. equities with true 1:1 backing
The Bank of Japan raised interest rates by 25 basis points as expected; SpaceX (SPCX.O) will acquire Anysphere through a merger.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Market Highlights from Yesterday
DeepSeek Raises Over $7 Billion in Funding, Valuation Exceeds $50 Billion
According to The Information, DeepSeek has completed a record-breaking funding round exceeding $7 billion, valuing the company at over $50 billion.
Coinbase to Launch Tokenized U.S. Equities with 1:1 Real-World Asset Backing
Per official announcement, Coinbase will launch tokenized stocks backed 1:1 by real-world shares. Users will be able to hold authentic tokenized shares of U.S.-listed companies directly and trade, hold, or redeem them on-chain, while automatically receiving dividend distributions. Coinbase emphasized that these tokens are not derivatives or debt instruments but on-chain assets backed by actual underlying equities.
Ripple Acquires Stake in African Fintech Flutterwave at $3.3 Billion Valuation
According to Bloomberg, African fintech firm Flutterwave sold a portion of its equity to blockchain company Ripple, resulting in a post-transaction valuation of $3.3 billion.
Oluwagbenga Agboola, CEO of Flutterwave, stated that the partnership aims to accelerate growth through payment business expansion and strategic collaboration, though Ripple’s investment amount and equity stake were not disclosed. Flutterwave currently operates in 35 African countries.
The CLARITY Act Allocates $150 Million to Combat Digital Asset Fraud
U.S. Senator Cynthia Lummis tweeted that the CLARITY Act will allocate $150 million to law enforcement agencies to track digital asset fraudsters and other illicit actors.
Dubai VARA Releases Updated AML Guidelines Requiring Crypto Firms to Integrate FATF Blacklist into Real-Time Risk Scoring
According to Bitcoin.com, Dubai’s Virtual Assets Regulatory Authority (VARA) recently released updated Anti-Money Laundering (AML) regulatory guidance requiring crypto firms operating in Dubai to integrate FATF high-risk and blacklist country data into their risk-scoring models in real time—replacing prior static compliance tracking mechanisms. The new rules require firms to update their risk assessments at least once every three months; immediate updates are required if significant changes occur to operational structure or product lines. Firms must separately assess proliferation financing risks and targeted financial sanctions risks—not conflate them with general AML compliance. Additionally, firms must formally document risks arising from AI-assisted operations and anonymity-enhancing exchanges. VARA stated that compliance officers, senior management, and board members bear full responsibility for residual risk ratings, signaling a regulatory shift from reactive enforcement to proactive, systemic risk management.
Nigerian Senate Passes Cryptocurrency Regulation Bill at Second Reading, Mandating Licensing for Exchanges
According to Premium Times, Nigeria’s Senate has passed a cryptocurrency regulation bill at second reading. Spearheaded by Deputy Senate President Barau Jibrin, the bill seeks to establish a comprehensive regulatory framework for virtual assets and virtual asset service providers (VASPs), mandating licensing, transparency, and compliance obligations for cryptocurrency exchanges. Following passage, the bill has been referred to the Senate Committee on Capital Markets for further review, with the committee required to submit its report within four weeks.
Senators noted that although Nigeria ranks among Africa’s top countries in cryptocurrency adoption, it has long lagged behind Kenya, South Africa, and Ghana in regulatory development. This regulatory gap has led to widespread investor fraud losses and created fertile ground for money laundering and other illicit activities.
Tether Signs MoU with DMCC to Advance Blockchain Education and Asset Tokenization in Dubai
Per official announcement, Tether has signed a Memorandum of Understanding (MoU) with Dubai Multi Commodities Centre (DMCC) to explore collaboration in asset tokenization, digital asset education, and broader blockchain applications.
Under the agreement, Tether plans to deliver specialized workshops, customized blockchain consulting, digital asset pilot programs, and tokenization initiatives to DMCC’s enterprise network, and explore applications of peer-to-peer digital communication and payment systems. The parties will also jointly assess opportunities for cooperation in blockchain infrastructure, digital payments, educational events, and hackathons.
Bank of Japan Raises Rates by 25 Basis Points as Expected
The Bank of Japan raised its policy interest rate by 25 basis points, lifting the target range from 0.75% to 1.00%—its highest level in 31 years—consistent with market expectations. This follows three consecutive meetings where rates were held steady.
SpaceX (SPCX.O) to Acquire Anysphere via Merger
Per U.S. Securities and Exchange Commission (SEC) filings, SpaceX (SPCX.O) will acquire Anysphere through a merger, assigning a $60 billion equity valuation to Anysphere.
Anysphere is a U.S.-based AI software startup; Cursor is its flagship brand and product.
“Abao”, the AI-Powered Alipay, Officially Launched
The AI-powered version of Alipay, named “Abao”, has officially launched. Alipay has become the world’s first super-app fully transformed across all platforms with AI capabilities. The new version is now undergoing invitation-only testing and will gradually roll out to all users.
Market Data
Recommended Reading
Pricing OpenAI Pre-IPO: A New, Six-Month Business on Hyperliquid
https://www.techflowpost.com/article/32079
Even before OpenAI and SpaceX go public, markets have already begun pricing them. On-chain pre-IPO trading emerging on Hyperliquid is shifting primary-market valuation contests onto public markets. The surging pre-IPO trading volume for SpaceX has made Trade.xyz the biggest winner—but Ventuals, which holds star assets including OpenAI and Anthropic, chose to shut down less than a year after launch. This experiment reveals a core question: When a company’s true value remains untested by public markets, do those 24/7 fluctuating prices reflect genuine market consensus—or an anchorless valuation game?
Interview with Morgan Stanley’s Head of Digital Strategy: “Bitcoin hitting $1 million isn’t impossible—but I hope it happens slowly”
https://www.techflowpost.com/article/32077
Amy Oldenburg, Morgan Stanley’s Head of Digital Asset Strategy, believes Bitcoin reaching $1 million long-term isn’t far-fetched—but she prefers a slow, sustained revaluation rather than a surge driven by systemic crisis. She notes that those who truly grasp Bitcoin’s value tend to come from backgrounds involving emerging markets and international finance, because in regions with weak financial infrastructure, pervasive corruption, and capital controls, decentralized assets solve real survival problems—not just investment narratives. Although Morgan Stanley has launched Bitcoin-related products and set records with its ETF debut, institutional capital has yet to fully embrace Bitcoin, constrained by regulation, insufficient education, and Bitcoin’s persistent classification as a high-risk asset. Oldenburg expects Bitcoin to advance along a gradual upward trajectory over the next several years—and suggests that the catalyst transforming it into a global neutral reserve asset may require a major event capable of undermining trust in traditional financial systems. Meanwhile, she cautions investors that holding Bitcoin ETFs provides only price exposure—not equivalent to owning Bitcoin itself; self-custody and financial sovereignty remain Bitcoin’s most fundamental, irreplaceable value propositions.
Are the “Magnificent Seven” No Longer Enough? Retail Frenzy Around SpaceX IPO Spurs Wall Street to Propose an “AI Tech Ten”
https://www.techflowpost.com/article/32078
On its first trading day, SpaceX’s IPO attracted $117 million in net retail purchases—56% of total U.S. retail stock net buying that day. This record-setting IPO not only reignited market enthusiasm but also prompted Wall Street to redefine the tech giant landscape. Research firm Vanda Research proposes replacing the past few years’ “Magnificent Seven” concept with a new “FAB 10” (Frontier AI & Big Tech 10), adding SpaceX, OpenAI, and Anthropic to Apple, Microsoft, NVIDIA, Amazon, Google, Meta, and Tesla. Unlike traditional tech giants, the FAB 10 emphasizes long-term value in frontier AI models, compute infrastructure, and space technology. Yet this upgrade in capital narrative also signals reallocation—SpaceX’s popularity may be drawing liquidity away from hot sectors like chip stocks. Meanwhile, Bank of America offers an alternative “AI Big 10” list, incorporating Broadcom, AMD, and Micron into its core lineup—betting on AI hardware rather than unlisted model companies. The divergence between these two lists ultimately answers the same question: Over the next decade, will tech dominance belong to chipmakers—or to those training models and launching rockets?
Ray Dalio’s Latest Commentary: AI Concentration Is Too High—U.S. Equity Real Returns Could Be Negative Over Next 5–10 Years
https://www.techflowpost.com/article/32073
If Wall Street spent the past few years telling the story of the “Magnificent Seven,” markets are now entering an AI-redefined era. Ray Dalio, founder of Bridgewater Associates, argues that the greatest risk facing U.S. equities today isn’t AI itself—but excessive capital concentration in a handful of AI leaders. Historically, each revolutionary technology wave brought immense opportunity alongside sharp volatility, with ultimate winners rarely predictable in advance. He forecasts U.S. equity real returns may fall between -5% and -10% over the next 5–10 years, citing inflated valuations, extreme market concentration, and heightened long-term uncertainty. Rather than doubling down on a few star companies, Dalio champions the “Holy Grail of Investing”: holding roughly 15 high-quality, uncorrelated, risk-balanced assets to improve overall risk-adjusted returns through diversification. In Dalio’s view, AI may still reshape the world—but for investors, what matters most isn’t chasing the hottest AI stocks, but preserving portfolio diversity and resilience amid collective euphoria.
SpaceX’s IPO Rewrites a Century-Old Listing Process
https://www.techflowpost.com/article/32069
SpaceX’s IPO didn’t just create one of history’s largest offerings—it demonstrated an emerging model reshaping capital markets. The three pillars traditionally monopolized by investment banks—price discovery, investor matching, and share settlement—are now being progressively decentralized across prediction markets, perpetual futures, “private-public hybrid” markets, and on-chain trading platforms. Before formal listing, markets had already priced SpaceX via platforms such as Hiive, Forge, Polymarket, and Hyperliquid—significantly diminishing banks’ control over issue pricing. Meanwhile, tokenized stocks and on-chain trading extend trading hours and broaden participation globally—but also highlight the critical importance of real-world asset custody and settlement capability. Future IPO competitiveness may hinge less on “who sets the price” and more on “who proves asset authenticity and executes settlement.” Under this shift, investment banks’ roles are evolving—from traditional price setters to credit guarantors, risk absorbers, and allocators of scarce subscription rights—while price discovery authority migrates toward more open, transparent, and real-time market mechanisms.
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