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Could The IPO Wave Drain Crypto's Liquidity?
A record run of mega-listings is pulling hundreds of billions in fresh equity supply into the market. The fear is that the money to buy it comes partly out of crypto. The truth is more tangled than the timeline suggests. There is an obvious villain in crypto’s rough summer. SpaceX carried out the biggest IPO ever, OpenAI and Anthropic are lining up behind it, and Bitcoin fell through the same…
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