Tokenized Gold Leads Weekend Prices; OpenAI Wins DoD Contract
Tokenized gold trading dominated weekend price discovery while CME gold futures were shut, as U.S. officials designated Anthropic a supply chain risk and OpenAI announced a contract to deploy its AI models on Pentagon classified networks.
News
Tokenized gold drives weekend price discovery while CME futures are closed
Gold price formation shifts to blockchain-based markets once U.S. futures close for the weekend, according to Iggy Ioppe, former chief investment officer at Credit Suisse and currently CIO at liquidity infrastructure firm Theo.
CME gold futures halt trading at 5:00 pm ET on Friday and resume at 6:00 pm ET on Sunday. During that period, regulated futures markets are inactive, and most residual activity takes place through private over-the-counter transactions in Asia that are not publicly disclosed. Consequently, tokenized gold instruments such as PAX Gold (PAXG) and Tether Gold (XAUt) remain the only continuously accessible trading venues.
Ioppe said that, in terms of publicly visible pricing, on-chain markets account for virtually 100% of weekend price discovery. He added that when CME trading restarts, prices typically reflect movements already registered on blockchain markets.
PAXG surges on Saturday. Source: CoinMarketCap
Anthropic CEO criticizes Pentagon decision as “unprecedented”
Anthropic CEO Dario Amodei responded to Friday’s determination by U.S. officials that the company constitutes a “supply chain risk.” He said Anthropic had been a significant partner to the U.S. Department of Defense and supported all proposed defense use cases except fully autonomous weapons systems and mass domestic surveillance.
Amodei told CBS News that these exceptions relate to core American rights, including protection from government surveillance, and asserted that decisions about warfare should remain with human military officers rather than be delegated entirely to machines.
The announcement by U.S. “Secretary of War” Pete Hegseth and subsequent reports that rival AI firm OpenAI had secured a Department of Defense contract drew criticism online.
The Anthropic CEO responds to the announcement from US officials. Source: CBS News
OpenAI secures defense contract hours after federal order to halt Anthropic use
OpenAI reached an agreement with the U.S. Department of Defense to deploy its artificial intelligence models on classified military networks, hours after the White House directed federal agencies to stop using Anthropic technology.
In a late Friday post on X, OpenAI CEO Sam Altman announced the deal, stating the company would provide its models inside the Pentagon’s “classified network.” He said the department had demonstrated “deep respect for safety” and a willingness to operate within the company’s limits.
Earlier the same day, Defense Secretary Pete Hegseth labeled Anthropic a “Supply-Chain Risk to National Security,” a designation typically reserved for foreign adversaries, requiring defense contractors to certify they are not using the company’s models.
President Donald Trump simultaneously directed all U.S. federal agencies to immediately cease using Anthropic technology, allowing a six-month transition period for agencies already dependent on its systems.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
