Anthropic Pre-IPO Crypto Contract Drops 20% in Hours on Hyperliquid After S-1 Filing

TLDR Anthropic filed a Form S-1 to list on the Nasdaq under the ticker “ANT,” with an expected listing around Nov. 19-20. The company reported an $80.7 billion loss in the first half of 2026 and a net revenue retention rate near 900%. Traders are already betting on the IPO with leveraged crypto contracts on Hyperliquid, including trade.xyz’s ANT and Entropy’s ANTH. Trade.xyz’s ANT contract opened near $138 and fell to about $110 in its first hours. U.S. traders are barred from these contracts, and no shares back them.