Of the $104 billion net loss, how much is “real cash burn” and how much is “accounting noise”

Seeing the figure “$104 billion in net losses in the first nine months,” it’s easy to think, “That’s a terrifying amount to lose.” But without breaking it down, you could misread Anthropic’s actual burn rate.

The prospectus lists net losses of $1.5 billion, $8.3 billion, and $42 billion in 2023, 2024, and 2025, respectively. The appendix offers a key explanation for the $42 billion loss in 2025: it was mainly driven by changes in the fair value of convertible notes as the company’s valuation rose. T

$AERO ‌There is no specific reason for the entry other than following the direction of the major trend, while identifying demand zones and invalidation levels.

Early-Morning AI Market Brief | BTC and ETH Bearish in the Short Term
In this morning’s 8:29 AI market brief, both Bitcoin and Ethereum were rated “bearish”:
🔸 BTC: Tech stock volatility is dampening risk appetite and weighing on short-term momentum. However, extensions of loans to BTC-related companies have eased debt repayment pressure, offering some support for sentiment. 🔸 ETH: Weaker sentiment in U.S. stocks and hawkish remarks have lifted interest rate expectations, suppressing risk appetite. 🔸 Gold: Higher real interest rates and a stronger dollar are weighing on gold prices, though

#美国就业数据今晚公布 The Macroeconomic Paradox: Decoding Tonight’s U.S. Initial Jobless Claims Release
Global capital markets are entering a high-sensitivity liquidity window ahead of tonight’s weekly U.S. labor market disclosure. Scheduled for release on November 12 at 21:30 (UTC+8), the U.S. Initial Jobless Claims report represents the immediate focal point for institutional trading desks recalibrating interest rate trajectories. Consensus macroeconomic forecasts anticipate 194,000 new unemployment filings, marking a slight projected expansion from the previous week’s remarkably resilient print of 1

#GateETFReturningTrader

𝗚𝗮𝘁𝗲 𝗘𝗧𝗙 𝗥𝗲𝘁𝘂𝗿𝗻𝗶𝗻𝗴 𝗧𝗿𝗮𝗱𝗲𝗿 𝗥𝗲𝘄𝗮𝗿𝗱𝘀: 𝗔 𝗦𝗲𝗰𝗼𝗻𝗱 𝗖𝗵𝗮𝗻𝗰𝗲 𝘁𝗼 𝗘𝗮𝗿𝗻 𝗨𝗽 𝘁𝗼 𝟭𝟮𝟬 𝗨𝗦𝗗𝗧

Gate has introduced a returning trader reward opportunity, giving eligible ETF traders a reason to come back. Participants can receive 10 USDT on their first trade and earn up to 120 USDT in total rewards.

This campaign is designed to welcome back traders who have been away from ETF trading. Instead of focusing only on new users, it puts returning participants in the spotlight.

🔍 𝗧𝗵𝗲 𝗢𝗳𝗳𝗲𝗿

The reward structure has two key fi

Four-category score, on a four-point scale; passing is three points
$SKHY Now 141.41; I'll go through each item one by one
Volume: 783k contracts, average volume 579k; 1.32x over 21 minutes, one point
Structure: 133.64, 137.05, 138.35, 140.77; lows are rising, one point
Position: touched 142.94, closed at 141.41; upper wick of 1.53, overhead pressure, zero points
Timing: 07:00 to 08:21, three bucks, completed in 81 minutes, zero points
Two points. Passing is three, and one point short is still one point short
Same principle as taking a driving test: even one point short means paying to take i

From a technical perspective, $1000PEPE$1000PEPE has fallen 25% from its high in two days, so a slight rebound to retest the 0.0047 area it had already broken below after touching support near 0.0043 is normal. But if it rises to this area, it would be a great shorting opportunity—just follow the market’s rhythm. After all, when BTC falls, nothing can rise. Those who want to know the entry, take-profit, and stop-loss points can check my homepage.

$KOR :)))))

Will gold break the 3,800 level today? The quant system is focused on gold. Got your bags ready?

$ETH It’s hard to get bullish again. The god-tier old demon from the previous version shorted ETH, adding to the position as it kept moving into profit, turning just over 170,000 RMB into 10 million in unrealized gains in two weeks. He still hasn’t taken profit and expects ETH to actually drop to 1800.

Jensen Huang stepping down hammered US stocks; Bitcoin plunged to 70.7k overnight, and my long got stopped out
US stocks took a hit first last night, with Nvidia plunging on news of Jensen Huang stepping down, and the crypto market was dragged down too. bitcoin:native fell from 74,081 to 70,672 in 24 hours and is now near 70,800, with all the moving averages hanging overhead.
While others are showing off their gains, I’m showing my losses. My long at 73,932 was finally stopped out last night. I held it for two days, but still exited at a loss. This is why I often tell friends: always set a sto

Technically, over the past 2 days, $1000PEPE$1000PEPE has already fallen 25% from its peak, so after touching support at 0.0043, a slight rebound to retest the 0.0047 breakdown area is normal. But if it reaches this area, that’s a good shorting opportunity; just follow the market’s rhythm. After all, nothing can rise when BTC is falling. As for those who want to know the entry, TP, and SL, visit my page to read about them.

🌈 Gate Live Livestream Ideas - November 13

Featured topics:
🔹BTC falls below $71k, hitting its lowest level since September! The $70k level is under threat—where could it fall next?
🔹A drop in BTC below $70k would trigger $622 million in long liquidations! Can the bulls’ last line of defense hold?
🔹Is BTC looking less and less like a safe haven? Grayscale finds that crypto sectors are gradually decoupling from BTC and moving independently—is the altcoin market about to change?
🔹South Korean chip stocks rebound against the trend! KOSPI rises over 2%, while SK Hynix and Samsung gain over 3

VVV | Short position 🔴 | Bearish | 15 minutes | 24-hour change: -3.57% | Volume: 25.2M USDT Short rationale: Price below EMA200; EMA20/50/200 in bearish alignment; RSI14 at 44.2; MACD histogram negative; ADX14 at 10.8; volume at 0.32x the 20-candle average; trend pullback/continuation. Entry: 18.915 Stop-loss: 19.2128 Take-profit 1: 18.5428 | Take-profit 2: 18.3195 | Take-profit 3: 18.0217 Entry price for reference only; do not chase. This strategy is invalidated if the stop-loss level is hit. Technical analysis strategy only; not financial advice. $VVV

THE SEC AND CFTC ARE FIGHTING OVER WHO GETS TO REGULATE STOCK PERPETUALS IN THE US.
IF APPROVED, TRADERS COULD GET ACCESS TO 24/7 STOCK TRADING THROUGH PERPETUAL CONTRACTS.

London, I’m inside of you!

$INIT One long order every day—let's see how low you can go.

Watching the market late at night, with three screens side by side, the picture is crystal clear: U.S. stocks are soaring on AMD’s strength, gold and silver are getting crushed by interest rates nearing 5%, while crypto is falling on its own, with not a buyer in sight. $BTC slid to around 71,000, $ETH lost the 2,000 level, and $SOL
dropped to 81. By the close, those levels long regarded as rock-solid floors had been breached one after another.
Someone asked how to trade on a night like this. My answer was pretty boring: do nothing. When trading short in the direction of the trend, the most