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SpaceX’s $85 billion IPO windfall went everywhere except Bitcoin
The company parked $76 billion in money funds and government securities while AI spending exploded but its 18,712 BTC balance stayed flat.
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Good to see you this Thursday.
Access risk is moving to the front of the crypto user experience. BitMart’s order for covered US users to close positions and withdraw within days or face aggressive compliance checks that could freeze assets is a sharp reminder that custody, jurisdiction, and deadlines can matter as much as price. Meanwhile, one of crypto’s biggest long-running narratives took another hit as newly revealed details from SpaceX’s estimated $85 billion IPO windfall showed the company distributed billions across shareholders and insiders without directing any of the proceeds toward Bitcoin.
That pressure lands as confidence looks selective elsewhere. Grayscale’s XRP fund drew fresh money only to see a $16.8 million market hit erase the rebound, while all six US Solana ETFs logged five straight days of zero net flows. Even token mechanics look fragile, with a 100 million PROVE unlock meeting razor-thin liquidity and raising the odds of disorderly trading.
The global crypto market cap is $2.2 trillion, with a 24-hour volume of $55.48 billion. The price of Bitcoin is $64,831.17, and BTC market dominance is 58.9%. The price of Ethereum is $1,913.62, and ETH market dominance is 10.5%. The best-performing sector is DeFAI, which gained 16%. The Crypto Fear & Greed Index is currently Extreme Fear (25).
📰 Top News
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SpaceX’s $85 billion IPO windfall went everywhere except Bitcoin
The company parked $76 billion in money funds and government securities while AI spending exploded but its 18,712 BTC balance stayed flat.
BitMart gives US users just days to pull crypto before aggressive new compliance checks risk freezing their assets
Covered users must close positions and withdraw by 23:59 UTC, while the wider platform keeps two Aug. 26 clocks.
Investors poured millions back into Grayscale’s XRP fund, but a $16.8M market hit instantly wiped out the comeback
A devastating six-month bleed has wiped $165 million from Grayscale’s XRP trust through a toxic mix of mass exits and market crashes.
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Bitcoin price breaking out toward $69,000 now opens a turbo path toward $84,000
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