Executive brief
The global financial landscape shifted significantly on Friday as the highly anticipated SpaceX debut on the Nasdaq triggered record-breaking activity across both equity and digital asset markets. The aerospace giant saw its shares surge more than 20% from a $135 listing price, briefly pushing its valuation toward $2.3 trillion and officially making Elon Musk the world’s first trillionaire. This event served as a massive liquidity driver for the crypto sector, where synthetic SpaceX perpetual futures had already seen over $2.6b in cumulative volume. In tandem with the IPO fervor, Bitcoin climbs back into the green, reclaiming levels near $64,000 following reports that a peace deal between the United States and Iran has reached a final agreed text. This geopolitical de-escalation has provided a strong directional cue for risk assets, pulling oil prices lower and encouraging a recovery from a volatile seven day period.
Institutional infrastructure continues to mature despite recent market pressure. While US spot Bitcoin ETFs recorded a five-week outflow streak totalling over $5b, major players are doubling down on yield-bearing products. BlackRock has updated its filing for a Bitcoin Premium Income ETF, which aims to harvest volatility through a covered-call strategy, while Coinbase launched AI agent accounts that allow autonomous software to trade and spend crypto. This move toward “agentic commerce” suggests a growing opportunity for machine-native financial ecosystems. However, regulatory and legal risks remain prominent: Sam Bankman-Fried loses appeal of his fraud conviction, ensuring his 25-year sentence remains intact. Additionally, corporate buyers such as Metaplanet and Strategy Inc. continue to expand their holdings, with the latter adding 1,550 BTC this month, indicating that large-scale treasury accumulation persists even as retail sentiment tests cycle lows.
1) Top 20 news headlines
- Elon Musk’s SpaceX soars 20% in blockbuster Nasdaq debut; the stock traded above $160 after an initial IPO pricing of $135.
- FTX’s Sam Bankman-Fried loses appeal of criminal conviction; a federal panel upheld the fraud and conspiracy charges and the 25-year prison sentence.
- Bitcoin climbs back into the green as Trump signals an end to the Iran war; crypto firmed as global stocks rose following de-escalation news with Bitcoin hitting $64,000.
- BlackRock races Goldman Sachs to turn Bitcoin volatility into ETF income; the iShares Bitcoin Premium Income ETF (BITA) will carry an annualized sponsor fee of 0.65%.
- Monero price rockets 33% to $438 amid $120 million onchain laundering maze; Tether froze $72 million in USDT linked to the suspicious on-chain activity.
- Coinbase launches AI agent accounts that can trade and spend on your behalf; the new platform allows assistants like ChatGPT to autonomously manage crypto transactions.
- Bitcoin hit bottom at $59,000 says Standard Chartered analyst; market analyst Geoffrey Kendrick identified the price level as the end of the recent selloff.
- VanEck bets BNB real-world usage can stand out; the firm argues user activity and revenue make BNB a stronger long-term case than many vision-based projects.
- Metaplanet buys Siiibo Securities for $13.1 million; the acquisition gives the firm a regulated platform to develop Bitcoin-linked investment products in Japan.
- U.S. government bets $2 billion on quantum computing; the funding highlights an urgent need for post-quantum cryptography to protect digital assets.
- XRP sentiment falls to 8-month low; weighted sentiment gauged by Santiment hit its weakest reading since October 2025.
- LG Electronics takes ads onchain with Arbitrum; the electronics giant is building a blockchain-based advertising platform for the $679b ad market.
- Big banks ditching private blockchains for tokenized cash; Sygnum reports institutional clients now prefer public infrastructure for interchangeable cash instruments.
- Strategy Inc. adds 1,550 Bitcoin as holdings reach 845,256 BTC; the company acquired the tokens for $101.3 million at an average price of $65,332.
- CLARITY Act moves to a fight between cops and coders; White House officials met with law enforcement to resolve safe-harbor provisions for software developers.
- Bitcoin price faces risk as big buyers lose conviction; US spot ETFs have recorded a five-week outflow streak totaling more than $5 billion.
- Japan’s SBI using XRP to solve banking loyalty problems; the bank is offering crypto vouchers worth 20% of interest payments to 4.33 million account holders.
- Kalshi crypto perpetuals spark regulatory classification debate; the clash centers on whether the contracts should be treated as futures or swaps.
- Bloomberg Analyst: Bitcoin ETF investors stay put despite outflows; broader market data suggests the crypto ETF sector remains more resilient than headlines imply.
- Gary Gensler argues prediction markets don’t overrule state laws; the former regulator claims these platforms are overstepping by offering sports-related contracts.
2) BTC and ETH ETF flows
| Metric | BTC | ETH |
|---|---|---|
| Net inflow | -$19.0m | -$15.9m |
| Value traded | $2.1b | $639.4m |
| Net assets | $79.5b | $9.2b |
| Cumulative net inflow | $53.5b | $11.2b |
3) X trending news
- SpaceX hits $2.3 trillion market cap; stock surged over 30% to a fresh record high making it the 6th largest public company.
- Elon Musk becomes world’s first trillionaire; net worth hit $1.1 trillion as SpaceX stock began trading on Nasdaq.
- SpaceX trading volume hits $26 billion; approximately 160 million shares were traded in the first 15 minutes of the IPO.
- US and Iran reach final peace deal text; Pakistan’s Prime Minister confirmed the agreed text is ready with potential signing this weekend.
- Japan advances crypto tax reform bill; the proposed law reclassifies crypto as financial products and cuts taxes from 55% to 20%.
- Retail investors move to the sidelines; stocks were sold for 3 consecutive days, the first such streak since the 2020 pandemic.