Entropy has entered Hyperliquid’s HIP-3 ecosystem with fresh capital and staking support, launching a set of perpetual markets tied to non-crypto assets. The project said it raised $14 million in a round led by Ribbit Capital and secured about $40 million in HYPE staking support. Its first live products include ANTH, a pre-IPO perpetual contract linked to Anthropic’s valuation, and SNDK, a stock perpetual contract tied to SanDisk, while SMCI is listed but not yet live on the platform. According to Foresight News, Entropy positions itself as a HIP-3 market deployer on Hyperliquid, using the exchange’s order book, margin, and liquidation infrastructure while taking responsibility for reference asset selection, market parameters, and oracle maintenance. The team says it wants to build a trading framework for assets that are hard to trade continuously in traditional markets, including private companies, listed equities, indexes, commodities, and cryptocurrencies. The project’s design centers on liquidity-weighted oracle models and lighter funding constraints during market close periods or in pre-IPO environments. It also launched its first markets in Growth Mode, cutting base maker and taker fees by 90% from standard HIP-3 rates. Foresight News noted that Entropy remains an early-stage project, and pointed to the shutdown of another Hyperliquid ecosystem participant, Ventuals, as a reminder that staking support and trading volume do not guarantee long-term market operation.

Entropy.io, a deployer under Hyperliquid’s HIP-3 framework, said it has raised $14 million in a funding round led by Ribbit Capital. The company also received $40 million in HYPE staking support. At the same time, its first market, Anthropic pre-IPO, has gone live on Hyperliquid. According to the official announcement cited by PANews, Entropy operates as an independent market deployer within the HIP-3 framework. It offers perpetual contract trading tied to a range of assets, including global equities, commodities, indexes, and longer-dated pre-IPO shares. The team includes researchers and traders from Citadel Securities, Optiver, Polymarket, and Millennium. Entropy said it is building a new liquidity-weighted oracle designed to address several issues in pre-IPO perpetual markets, including weak liquidity and manipulation during non-trading hours. Its stated goal is to enable deep 24/7 trading for all assets in a single venue.

EntropyIO said it has launched what it describes as the first way to trade Anthropic with liquidity, aiming to open access to a frontier asset that had previously been available to only a limited group of participants. The company said the product is designed to bring that exposure to a broader user base rather than a narrow set of market insiders. The project has also closed a $14 million funding round led by Ribbit Capital. In addition, EntropyIO said it has secured $40 million in HYPE staking support. According to the announcement, those resources will be used to build improved and entirely new markets. EntropyIO added that the first related markets are already live on Hyperliquid. The company focuses on liquidity trading and market infrastructure for frontier assets.

A White House memorandum signed by Donald Trump on Aug. 12 could let vetted private U.S. firms take part in government-supervised cyber operations against foreign criminal hacking groups, but two crypto lawyers said the document is far more constrained than early reactions suggested. On the Aug. 18 episode of DEX in the City, Jane Khodarkovsky and Jacob Robinson said the program would require approvals, bonds or escrow of at least $1 million, and continuing oversight by the government. The memo excludes foreign state hackers and groups acting at a government’s direction, and it does not repeal the Computer Fraud and Abuse Act. Robinson compared the framework to a modern digital version of privateering and said the industry needs a legal path to respond faster when protocols are drained. Brooks warned that the real test will be the details, including whether the government has enough technical staff to supervise the program and how much authority the participating companies will actually have. Operating procedures are due within 60 days, a status report within 180 days, and a classified annex on information sharing could prove just as important as the public text.

A roster from the 2000 U.S. Physics Olympiad training camp has resurfaced online, drawing attention because it includes Dario Amodei, now the chief executive of Anthropic. The archived list, preserved by the American Association of Physics Teachers, names 24 students selected for the camp held at the University of Maryland in May 2000. Only five advanced to represent the United States at the 31st International Physics Olympiad in Leicester, where the team finished seventh and all five members won medals. The renewed attention has widened beyond Amodei. The same list also includes Vladimir Novakovski, now founder of Lighter; Badr Albanna, an AI research engineer at Duolingo; and Nilah Monnier Ioannidis, now teaching computational biology at the University of California, Berkeley. The article traces how several of those students later moved into artificial intelligence, quantitative finance, computational biology, computer science and law. For Amodei, the route ran from a physics PhD at Princeton to Baidu’s Silicon Valley AI lab, Google Brain, OpenAI and then Anthropic, which he co-founded in 2021. Others on the roster followed equally distinct paths, and the report argues that the Olympiad network itself became a long-lived talent pipeline whose ties later reappeared in startup formation and venture investment.

A legal debate is taking shape after more than $100 million in bitcoin was stolen from Coldcard hardware wallets tied to a 2021 firmware flaw. On Unchained’s latest “DEX in the City,” three crypto general counsels said victims may have legal theories available, including negligence, product liability, consumer protection, and breach of warranty, but none offers an easy route. The core problem is that the defect sits in software and cryptographic key generation, an area where courts have not established clear precedent. Galaxy Research first identified 1,367 BTC drained from 4,585 addresses, and the tally later rose past $100 million as additional attacks emerged. Veda general counsel Vy Le argued the case exposes a central misconception in self-custody: users do not remove trust, they shift it from custodians to device makers, engineers, code reviewers, and auditors. Katherine Kirkpatrick Bos said product liability may be the instinctive claim, yet software bugs have not been treated consistently like physical product defects. Jessi Brooks added that for decentralized projects, even identifying a defendant able to pay damages can be difficult. Coinkite, the Canadian maker of Coldcard, has accepted responsibility, released patched firmware for every model, halted shipments of units built with the vulnerable software, and contacted affected customers. The open question is whether that public accountability will become legal accountability in court.

PANews’ weekly roundup showed that blockchain funding stayed subdued from July 27 to Aug. 2, with six disclosed deals totaling $41.5 million, while capital in the broader private market continued to cluster around AI, robotics and computing infrastructure. In crypto, funding was concentrated in security, execution infrastructure and AI-related Web3 projects. V12 raised a $10 million seed round led by Electric Capital, Birdai Labs secured $4 million for onchain execution infrastructure, and Axis Robotics closed a $12 million seed round led by Hack VC. Perceptron Network and ALPHEA also announced financing tied to decentralized AI data and distributed AI infrastructure. Outside crypto, the biggest checks went to major AI model companies and robotics platforms. Amazon disclosed that it had completed a total of $50 billion in investment in OpenAI and separately invested $11.3 billion in Anthropic and $13.7 billion in OpenAI during the second quarter. Moonshot AI reportedly raised $3.5 billion at a $35 billion valuation. Simile, Fish Audio, Modus and Pangram all announced new rounds, while Standard Bots, Enigma and Quantum Dynamics highlighted continued investor appetite for physical AI and robotics deployment. The period also saw M&A activity from Metaplanet and Fanatics, alongside fresh financing in nuclear power, bot detection and AI-focused funds.

The U.S. Senate has temporarily sidelined the Clarity Act while it works through other items, narrowing the near-term window for one of the crypto industry’s most closely watched market structure bills. Majority Leader John Thune is prioritizing government nominations and a Russia sanctions bill, while this week’s schedule is also constrained by time set aside for the funeral of late Senator Lindsey Graham. Under current Senate procedure, the Clarity bill may not reach the floor until next week, just before the August 8 recess. The delay comes as large financial firms continue to line up behind the legislation. BlackRock publicly backed the bill, with Samara Cohen calling it an important step toward an investor-first digital asset framework. Franklin Templeton also voiced support, and the report said Fidelity, Goldman Sachs CEO David Solomon, and Charles Schwab have recently expressed similar views. Policy analysts cited in the report have cut the odds of passage this year to 30%. Elsewhere in the roundup, X Money began rolling out to U.S. Premium and Premium+ subscribers. Hyperliquid said Trade.xyz is investigating the SKHYNIX perpetual contract spike incident, while South Korea is studying a rule that would cap single-stock leveraged exposure at 20% of an individual’s total financial investment products. The report also covered whale activity, market data, venture fundraising, and a series of crypto and AI industry developments.