Anthropic pre-IPO perps traded $643M across 12 crypto venues through Sept. 21, Binance Research says. The cash-settled contracts have no public share-price anchor yet. A post-IPO shift to a stock index could change gains, losses and liquidation thresholds. https://cryptoslate.com/anthropic-tokenized-pre-ipo-volume-hits-643m-but-liquidity-test-looms/