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●  IN THIS ISSUE

Chart of the Day — Ethereum tokenization growth
Trade of the Day — AMD headed lower?
Alpha Leaks — SpaceX crashed below IPO price
News Roundup — Trump Media, Google pressured, possible Meta/Anthropic deal

●  CHART OF THE DAY

Ethereum Leads in Tokenized ETF Growth

This chart from Token Terminal shows comparable growth in market cap for tokenized ETFs and funds across different blockchains over the past year. Ethereum towers above the rest with a $327.3 million gain, followed by Solana at +$83.3M, BNB Chain at +$61.8M, and Base at +$7.1M.

Robinhood Chain has seen a gain of $1.7M despite only launching this month, while Arbitrum One declined by $28.6M (although note that Robinhood Chain is built on Arbitrum).

It’s a clear snapshot of where institutional money is flowing in the RWA space, and it underscores Ethereum’s central role as the go-to infrastructure for institutional tokenization of real-world financial products.

●  TRADE OF THE DAY

More Downside on AMD?

AMD looks to have broken decisively below a rising wedge pattern, suggesting more downside to come, particularly as the breakdown comes soon after hitting a new ATH.

This change of structure isn’t fully validated yet, but the short thesis is looking increasingly solid. Go Premium to get the full details on this trade, including stop losses and take profit levels. Inner Circle members are trading both long and short, and we’re delivering setups in all market conditions, across crypto and stocks. Go premium today to catch our signals.

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●  ALPHA LEAKS
PYPL · STOCK

Paypal is reported as viewing a potential $53B takeover plan by Stripe and Advent as inadequate and undervalued, but is continuing to evaluate the proposal.

MS · STOCK

Morgan Stanley’s ETRADE, a brokerage and trading platform for retail users, has launched spot crypto trading, with initial support for BTC, ETH, and SOL.

NVDA · STOCK

Nvidia, together with Noetra Corporation and supported by the Japanese government, is to build the NVIDIA Vera Rubin AI factory in Japan, creating what Nvidia calls “the world’s first national AI infrastructure for physical AI”.

SPCX · STOCK

SpaceX stock has closed below its IPO price. It’s currently trading at around $124, having debuted at $135 last month and hit a $225 peak soon after. A SpaceX test flight was called off at around the same time as price dropped below the IPO level, but the stock was already in a steep downtrend.

TKNZ · STOCK

$1.9T asset manager T. Rowe Price has launched the first actively-managed, multi-token spot crypto ETF. The fund holds BTC, ETH, BNB, SOL, XRP, HYPE, XLM, and DOGE, and launched with around $15 million in assets.

XLM · CRYPTO

RWA tokenization platform Tradable will use the Stellar blockchain to tokenize up to $1 billion worth of private credit assets, adding to the $1.7 billion worth of similar assets that it already has tokenized.

CRO · CRYPTO

Market making firm Citadel Securities has invested $400M in major exchange Crypto.com at a $20B valuation, in the exchange's first ever institutional funding round.

●  NEWS ROUNDUP

Trump Media to Sell Early Access to Market Moving Posts

Are we living in strange times? Well, put it this way, reports this week indicate that Trump Media and Technology group is to launch a paid service giving institutions faster access to posts by President Trump on his Truth Social platform.

Since Trump’s posts can immediately move the market, it seems as though any institution that does not sign up for such a service would be placed at a competitive disadvantage, and according to the Financial Times, Trump Media has pitched a $100,000 monthly fee for what initially resembles Insider-Trading-as-a-Service.

This comes also as a CNN investigation found that Trump has repeatedly–more than twenty times–bought a company’s stock and then promoted it on Truth Social, sometimes announcing government plans that work in favor of the companies he has acquired exposure to.

Google Feeling the Heat

Google’s next major AI model, Gemini 3.5 Pro, remains unreleased after being initially previewed at Google developer conference I/O in May, with a slated June launch that was then delayed to July.

Bloomberg has reported that the model is months behind schedule with internal testing showing that it falls short on key targets.

Compute constraints also mean Google is struggling with AI capacity shortages, resulting in engineers inside the company hitting limits when trying to use AI tools for coding and development.

This follows on from events earlier this year when Google began limiting capacity for major customers including Meta, and these pressures come amid heavy spending: Alphabet’s Q1 2026 capital expenditures reached $35.7 billion (more than double the prior year), with full-year 2026 guidance of $180-190 billion, and overall it looks like Google is now contending with execution pressure amid intense competition.

Meta Explores Major Compute Deal With Anthropic

Meta is reportedly discussing a multibillion-dollar agreement to provide Anthropic with computing capacity from its AI data center network. The proposed arrangement could be worth up to $10 billion over two years, highlighting ramped-up demand for AI infrastructure as companies race to secure resources.

Discussions began after Anthropic approached Meta in June, but negotiations remain ongoing and no final agreement has been reached as yet.

The structure under consideration would see Anthropic make monthly payments over the contract period, with provisions allowing either company to terminate the deal before its scheduled expiry.

If completed, the agreement would represent a notable expansion of Meta's AI strategy, positioning the company not only as a developer of AI models, but also as a supplier of high-value computing infrastructure.

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