BTC $62,938.79 -0.04%
ETH $1,878.58 +0.02%
BNB $606.00 -0.83%
XRP $0.9989 -0.29%
SOL $75.17 -0.07%
TRX $0.3311 -0.25%
DOGE $0.0697 -0.31%
ADA $0.1759 -1.63%
BCH $203.53 -0.63%
LINK $9.39 +0.58%
HYPE $57.34 +2.51%
AAVE $85.71 -1.46%
SUI $0.6764 -0.95%
XLM $0.1567 -0.91%
ZEC $485.64 -0.36%
BTC $62,938.79 -0.04%
ETH $1,878.58 +0.02%
BNB $606.00 -0.83%
XRP $0.9989 -0.29%
SOL $75.17 -0.07%
TRX $0.3311 -0.25%
DOGE $0.0697 -0.31%
ADA $0.1759 -1.63%
BCH $203.53 -0.63%
LINK $9.39 +0.58%
HYPE $57.34 +2.51%
AAVE $85.71 -1.46%
SUI $0.6764 -0.95%
XLM $0.1567 -0.91%
ZEC $485.64 -0.36%

leo

All
Article
Flash

Behind the collapse of the "AI Stock God" Leopold Fund: abandoning the sale of Anthropic equity and turning to discounted sales of public stocks

According to Wall St Engine, "AI stock god" Leopold Aschenbrenner's Situational Awareness fund faced liquidity pressure during the market crash in July, with behind-the-scenes details revealed.The report states that after the market rapidly cooled in mid-July, the decline in stocks held by Situational Awareness triggered margin monitoring by banks such as Goldman Sachs and Morgan Stanley, leading to margin calls.Insiders said that other hedge funds began shorting related stocks after learning about its positions, creating a cycle of "price drop → margin call → forced selling → further price decline."In late July, while Leopold was hosting a wedding in Carmel, he continued negotiations with his team to maintain fund operations. On the evening of July 29, he reached a preliminary agreement with a consortium led by Greenoaks and Sequoia Capital to sell approximately $3.5 billion in Anthropic equity.However, in the early hours of July 30, before the U.S. stock market opened, Leopold changed his decision, opting to retain the private equity portfolio and instead sell publicly traded stocks. Subsequently, Citadel and Millennium entered negotiations with the fund team, and Citadel ultimately acquired most of the fund's public stock investment portfolio at a discount of more than 10% below market value before Thursday's opening.This transaction helped Situational Awareness meet margin requirements and avoid formal default. After the deal was completed, related AI and semiconductor stocks rebounded on Thursday, benefiting Citadel.As of around July 31, Situational Awareness disclosed to investors that the fund had a net loss of about 67% in July, but was still up about 80% for the year. Leopold stated that he "takes full responsibility" for the incident, and the fund has removed bank leverage, planning to continue operations and invest in the public market while adjusting its portfolio management and risk control systems.

Aleo releases a white paper on privacy stablecoins, proposing a permissionless institutional-level privacy stablecoin architecture

Aleo released the privacy stablecoin white paper "Stablecoin Privacy," stating that the privacy layer is the key infrastructure missing for blockchain payment rails to be adopted by mainstream institutions. Aleo indicated that as the GENIUS Act provides opportunities for the widespread adoption of stablecoins, the issue of permanently public transaction information on public blockchains may still hinder institutions from using stablecoins in scenarios such as payroll, fund management, and vendor payments.Aleo claims that existing solutions do not adequately meet the needs of institutions in terms of privacy protection and risk management. The white paper proposes a permissionless private stablecoin architecture based on Aleo, which introduces programmable risk mitigation mechanisms while protecting transaction privacy through zero-knowledge technology and programmable smart contracts, allowing institutions to conduct private transactions without sacrificing compliance and risk control.It is reported that the team members behind this white paper have long been dedicated to research at the intersection of cryptography, policy, and financial systems. Aleo's Global Policy Director Yaya J. Fanusie, member of the Crypto Innovation Council and former Global Financial Crimes Compliance Officer at Coinbase Valerie-Leila Jaber, and cryptographer and Johns Hopkins University Computer Science Professor Matthew Green possess rare practical experience in private payments, financial regulation, and zero-knowledge cryptography.
app_icon
ChainCatcher Building the Web3 world with innovations.