$1 Billion Poured Into Bitcoin In One Day

The average Bitcoin ETF holder is back in profit for the first time since January, and the data says most of them held through the whole drawdown. Also on the clock: SpaceX, OpenAI and Anthropic out-valuing 45 years of US tech IPOs, Meta's Muse agent matching ChatGPT's launch, and wash trading allegations at Kalshi. Where's the signal, and where's the noise?

Chapters

00:00 - Intro 00:56 - Topic 1 - Bitcoin ETF Holders Are Back Above Their Cost Basis 08:01 - Topic 2 - SpaceX, OpenAI and Anthropic vs 45 Years of US Tech IPOs 13:34 - Topic 3 - Meta's Muse AI Agent Rivals the ChatGPT Launch 22:15 - Topic 4 - Kalshi Faces Wash Trading Allegations 27:35 - Wrap-Up & Lightning Round: AI Token Data from Vercel and OpenRouter