Crypto Liquidations Top $13.5M as Anthropic Export Ban Hits IPO, SpaceX Probe Opens

Crypto News

Leverage unwinds swept the market over the past 24 hours, with four-hour exchange liquidations totaling 13.53 million dollars. Long positions accounted for 8.04 million, or 59.43 percent, while shorts made up 5.49 million. Binance led with 6.32 million liquidated, 46.69 percent of the total, followed by OKX at 2.41 million and Bybit at 1.34 million. Bitcoin, trading near 64,500 dollars, dominated the 24-hour heatmap at 42.17 million, with Ethereum next at 14.96 million. Several altcoins including SOL, TAO and WLD also registered outsized liquidations, signaling that volatility is broadening beyond the majors.

South Korea's financial regulator has opened an investor-protection review after a SpaceX pre-listing share subscription, marketed through Mirae Asset Securities, failed to deliver any allocation. Of the 555,555,555 Class A common shares on offer, roughly 2,314,815 were earmarked for the brokerage, but lead underwriter Goldman Sachs ultimately withheld sellable supply from the syndicate. Subscribers will receive full refunds of their deposits, yet currency conversion, overseas remittance and fee costs could still leave losses. Plans by some asset managers to fold the shares into exchange-traded funds collapsed, and regulators are also examining potential conflicts of interest, as the case may set a precedent for upcoming foreign listings.

Belite Bio confirmed it has completed its New Drug Application to the U.S. Food and Drug Administration for tinlarevant, an oral once-daily candidate targeting Stargardt disease type 1. The inherited retinal disorder, caused by ABCA4 gene mutations, affects an estimated 53,000 patients in the United States and currently has no approved treatment. Submitted under Breakthrough Therapy designation, the filing now enters a 60-day acceptance review before the agency sets a PDUFA target date. The company cited its Phase 3 DRAGON trial, in which tinlarevant significantly slowed retinal lesion growth versus placebo by lowering RBP4 levels and limiting the toxic vitamin A byproducts that damage the retina.

The Trump administration has imposed export controls barring foreign nationals from using Anthropic's newest AI models, Fable 5 and Mythos 5, citing national security. Commerce Secretary Howard Lutnick notified Anthropic chief executive Dario Amodei that the models were being designated for export control, after Amazon CEO Andy Jassy reportedly flagged that researchers had extracted cyberattack-relevant information via specific prompts. Anthropic blocked access for all users to comply, while calling the move a technical overreach and arguing the jailbreak was common and easily patched. Analysts warned the disruption could cost the company billions and complicate its initial public offering planned for this fall, potentially benefiting rival OpenAI.

Battery X Metals is accelerating its push into electric-vehicle battery recycling, appointing automotive executive Zachary Funk to its advisory board to drive commercialization of its lithium-ion rebalancing technology. In demonstration tests, an electric truck whose range had degraded to roughly 40 kilometers recovered up to 295 kilometers, a 637 percent improvement, while a separate trial recorded a 563 percent range gain after defective-cell replacement. Canada's National Research Council validated the approach, which restores capacity without costly battery swaps. With an estimated 40 million EVs expected to face post-warranty degradation by 2031, the company is positioning the solution as a scalable lifecycle platform.

Belite Bio's submission also marks a potential regulatory milestone, as a successful review would make tinlarevant the first approved therapy for Stargardt disease type 1. The application has entered the agency's 60-day acceptance window, after which formal review timelines and approval prospects will sharpen. Beyond the headline DRAGON data showing a meaningful reduction in lesion progression, the candidate's once-daily oral format is viewed as an access advantage for a chronic condition requiring long-term treatment. Management cautioned that acceptance, possible data requests and final safety and efficacy judgments remain open, leaving commercialization timing dependent on the outcome of the FDA review.

Across these developments runs a single thread: capital is repricing risk, and leverage is the first casualty. COINOTAG's aggregate market data underscores the caution, with the Fear & Greed Index at 18, deep in Extreme Fear, Bitcoin dominance elevated at 70.5 percent and total crypto market capitalization near 1.83 trillion dollars — a defensive posture consistent with bear-market conditions. The derivatives liquidation data confirms positioning remains fragile, while the regulatory friction around Anthropic and SpaceX shows that even off-chain catalysts now shape risk appetite. For traders, rotation toward majors and away from speculative bets looks set to persist until macro clarity returns and a durable bull market re-emerges.