SpaceX IPO: Whale Opens $22.3M SPCX Long as Synthetic Price Hits 30% premium

SpaceX’s IPO is already spilling into crypto markets, where one whale has opened a $22.3 million leveraged long on SPCX, a synthetic pre-IPO perpetual contract tied to Elon Musk’s aerospace company. Key takeaways: The whale is already sitting on more than $1.15 million in unrealized profit. Synthetic SPCX is trading near $175, roughly 30% above…

Metaplanet Strikes Deal for Siiibo Securities to Build Bitcoin Yield Products

Metaplanet announced on Friday that it has agreed to acquire Siiibo Securities in a 2.1 billion yen ($13.1 million) deal to form a securities arm. The Tokyo-listed Bitcoin (BTC) treasury company said it entered into a share transfer agreement to acquire 100% of the Japanese securities company, a licensed financial instruments business operator. After closing,…

TRM Warns of World Cup Crypto Scams Targeting Fans

TRM Labs warned that crypto scammers are targeting FIFA World Cup fans through fake ticketing sites, fixed-match betting schemes and event-themed crypto promotions.  The blockchain intelligence company said it identified several World Cup-related scam operations, including two fake-ticketing sites and one fixed-match betting pitch tied to four crypto addresses. “Criminals always look to exploit major…

Tokenized Stocks to Win Big on SEC Rule Rescission

The US Securities and Exchange Commission proposal to rescind rules around order protections and price quotes could remove a major legal barrier for tokenized US stocks. The SEC on Thursday proposed to scrap two rules in its national market system regulations. Rule 611 that bans “trade-throughs,” where a stock order on one exchange can’t be…

CoinDesk 20 performance update: Ethereum (ETH) falls 1% as index trades lower

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 1711.6, down 0.3% (-4.68) since 4 p.m. ET on Thursday. Ten of 20 assets are trading higher. Leaders: NEAR (+2.7%) and ADA (+1.0%). Laggards: CRO (-1.4%) and ETH (-1.0%)….

Botanix Shuts Down as Bitcoin Defi Demand Falls Short

Botanix, a Bitcoin scaling network that set out to bring “real utility” to BTC without token incentives, is winding down after four years in operation. In a Tuesday post on X, Botanix told users to withdraw all Bitcoin and other assets by July 9, after which remaining assets will be swept and “be unrecoverable.” The…

LG Electronics, Arbitrum Launch Blockchain Ad Network

South Korean tech giant LG Electronics is working with the Ethereum layer-2 network Arbitrum to build a blockchain-based advertising network aimed at serving the digital ad industry.  Arbitrum would give advertisers and publishers a shared database of ad inventory and track how customers interact with advertisements, with the company exploring how to bring the service…

Stand With Crypto UK Launches Campaign Against Bank Crypto Limits

Stand With Crypto UK is urging its 286,000 members to challenge British banks restricting transfers to cryptocurrency exchanges, arguing that blanket limits on transactions to regulated platforms are restricting access to digital assets. The new campaign cites a report from the UK Cryptoassets Business Council that found 40% of crypto transactions are blocked or restricted…

SpaceX (SPCX) raises $75 billion in largest-ever IPO

SpaceX has priced its shares at $135, according to a filing with the U.S. Securities and Exchange Commission on Thursday, setting the stage for one of the most closely watched public market debuts in recent years. The company sold 555.6 million shares at that price, raising $75 billion, making it the largest IPO ever, easily…

Stock Market Volatility Rocks Bitcoin, Threatening $60K Support

Key takeaways: Surging oil prices and rising producer inflation have pushed traders to price in a stricter US Fed monetary policy. Massive spot Bitcoin ETF outflows in June show the cryptocurrency is currently failing to act as a stock market hedge. The Nasdaq 100 Index dropped 7.5% in the seven days leading up to June…