Open Book with Anthony Scaramucci War in Iran, Trump’s Anthropic Ban, & Jane Street’s Bitcoin Rigging
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Mar 4, 2026 
Michael Novogratz, founder and CEO of Galaxy Digital and crypto macro investor, joins to weigh in on geopolitics, markets, AI and trading. He discusses recent US–Iran strikes and why markets barely budged. They debate AI's role in targeting and political theater around Anthropic. Conversation shifts to crypto: market dynamics, allegations about Jane Street, trading concentration, and macro positioning.
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Markets Shrug Despite Geopolitical Shock
- Markets shrugged at the Iran strikes: equities rose and oil spiked briefly but trended down.
- Novogratz attributes this to market view that the conflict's economic impact will be limited and temporary.
Anthropic's Human In The Loop Stance
- Anthropic provided AI capabilities used in U.S. target selection but resists autonomous lethal use and domestic surveillance.
- The company insists on human-in-the-loop for targeting and limits on internal surveillance use of its tech.
Respect Caution Around Autonomous Weapons
- Novogratz praises Anthropic's principled stance and warns against fully autonomous weapons without human oversight.
- He predicts legal and political pushback will likely prevent an outright U.S. ban of Anthropic's services.