Tokenized Gold Leads Weekend Price Discovery

Gold pricing shifts onto blockchain networks once U.S. futures markets close. Theo CIO Iggy Ioppe said, “Onchain markets are responsible for virtually 100% of weekend price formation.”

CME gold futures stop trading Friday at 5:00 PM ET and reopen Sunday at 6:00 PM ET. Aside from OTC deals in Asia, most markets remain inactive. PAX Gold (PAXG) and Tether Gold (XAUt) thus become the only continuously available venues. “Weekend blockchain moves reflect in CME prices when markets reopen,” Ioppe added.

Anthropic CEO Criticizes Pentagon Decision

Anthropic CEO Dario Amodei called the U.S. government labeling his firm a “supply chain risk” unprecedented. Speaking to CBS News, he noted Americans have fundamental rights: not to be spied on, and military officers retaining decision-making authority rather than ceding it to machines.

The company had agreed with most AI use cases proposed by the Department of Defense, except fully autonomous weapons and mass surveillance.

OpenAI Wins Defense Contract Hours Later

OpenAI reached a deal to deploy AI models on the Pentagon’s classified networks. CEO Sam Altman wrote, “The department respects safety and works within our operating limits.”

The week has been turbulent for AI. Defense Secretary Pete Hegseth designated Anthropic a “supply chain risk to national security,” requiring contractors to certify they do not use its models. President Trump directed federal agencies to halt Anthropic tech usage with a six-month transition.

Bitcoin & Geopolitical Concerns

Bitcoin trades around $66,000–$67,000. Tensions in the Middle East, especially Iran’s Hormuz Strait moves, affect oil prices and U.S. inflation expectations.

The potential impact on oil supply could push the U.S. Consumer Price Index to 5%, according to Kobeissi Letter, citing JPMorgan research. Historically, similar inflation periods prompted aggressive Fed rate hikes in March 2023.

Overall, the market is focused on TradFi reactions, while Bitcoin avoids major swings.

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