Are Huge Tech IPOs Sucking Cash From Crypto?

utoday07:14

Yoshitaka Kitao, CEO of Japanese financial giant SBI Holdings, has attributed the sluggish price action to a massive capital rotation. According to Kitao, who recently weighed in on the current market...

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Hence, investors are selling off other risk-on assets, including crypto.  However, Kitao is not deterred by this temporary liquidity drain. He has stressed that the fundamentals of the crypto market remain entirely sound. Furthermore, he noted that the potential passage of the \"Clarity Act\" in the U.S. would be a massive bullish catalyst for the entire crypto space. Kitao has stressed that Ripple, the company associated with the XRP cryptocurrency, will benefit from this regulatory clarity. The trillion-dollar IPO wave The upcoming tech IPOs are expected to be the most expensive in stock market history.The combined fundraising for the SpaceX, OpenAI, and Anthropic IPOs could exceed $200 billion. The total target valuations for all three companies combined add up to roughly $3.6 trillion.Elon Musk's space exploration and satellite company is targeting a valuation between $1.75 trillion and $2 trillion. The company could list as early as this June. SpaceX aims to raise up to $80 billion in its offering.OpenAI, the creator of ChatGPT, recently raised $122 billion at an $852 billion post-money valuation. OpenAI is targeting an IPO valuation between $850 billion and $1.1 trillion.Anthropic, the AI company behind the Claude large language model, is eyeing a valuation of approximately $900 billion. Anthropic is also expected to target a listing window in the fourth quarter of 2026.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2640766971","isCrawlerRequest":true}