The European Commission has opened a review of its landmark crypto regulation, signaling that the European Union is considering updates to its landmark digital asset framework just two years after it took effect.

The commission on Wednesday launched a public consultation seeking feedback from the crypto industry and the wider public on whether the EU’s Markets in Crypto-Assets Regulation (MiCA) should be updated. The consultation will remain open until Aug. 31.

The commission said crypto markets and the global regulatory environment have “continued to evolve” since MiCA took effect in 2024, prompting officials to assess whether the current framework remains “fit for purpose.”

The move marks an important regulatory development in the EU, with some industry observers already referring to potential future updates to the framework as “MiCA 2.”

Stablecoin interest ban included in regulatory review

The targeted consultation under MiCA is a detailed questionnaire designed to assess how the regulation is functioning in practice and where adjustments may be needed.

It seeks feedback on ongoing classification challenges, particularly the blurred boundary between crypto assets and traditional financial instruments under EU law, including wrapped tokens, synthetic assets and tokenized fund interests.

A key focus is stablecoins, including a reassessment of MiCA’s prohibition on interest or interest-like remuneration. The commission is asking whether this restriction should be maintained or revised, alongside broader questions on reserve requirements, liquidity management, redemption rights and the thresholds used to determine “significant” tokens.

An excerpt from the targeted consultation on the MiCA review. Source: EC

Beyond stablecoins, the consultation also examines emerging risk areas, including decentralized finance (DeFi), staking, lending, non-fungible tokens, and crypto asset service providers (CASPs), as well as issues around market integrity, investor protection and potential simplification of compliance rules.

Related: Euro stablecoin project Qivalis adds 25 banks ahead of launch

The inclusion of DeFi and tokenized financial assets is particularly notable as both areas remain largely outside MiCA’s scope.

EU probes whether consumers actually trust crypto

The public consultation document shows the commission is not only reviewing whether MiCA works as a legal framework, but also whether ordinary consumers understand and trust digital assets under the new rules.

Many of the questions focus on user awareness of Bitcoin (BTC), Ether (ETH), stablecoins, DeFi and tokenized assets.

An excerpt from the public consultation on the MiCA review. Source: The EC

It also explores what would increase consumer confidence in crypto services, including stronger protections, clearer rules, improved supervision and easier access through regulated banks and payment providers.

The review comes as MiCA approaches a key transitional deadline in July 2026, after which CASPs must be fully authorized under the EU framework or cease operations.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Bitcoin longs on Bitfinex surged to 80,636 BTC on May 20, the highest level since December 2023.

Leveraged traders on Bitfinex continued buying into Bitcoin’s sell-off, with margin long positions rising to 80,636 BTC on May 20 according to TradingView data.

The figure marks the highest level since December 2023 and represents a roughly 10% increase since the start of 2026. Bitcoin has fallen 13% year to date even as these long positions climbed.

The latest pullback saw Bitcoin slide from above $80,000 to approximately $76,000 over five consecutive losing sessions between May 15 and May 19.

It marks the second longest losing streak of the year, with the asset attempting its first daily green candle in six days at the time of writing. Bitcoin is now trading approximately 35% below its October 2025 all-time high of $126,000.

What the Bitfinex whale data signals

Historically, the so-called Bitfinex whale has acted as a contrarian indicator. Large leveraged long positions on the exchange have frequently expanded during market weakness and been reduced closer to local tops and trend reversals. The pattern does not guarantee a price floor, but it has attracted attention from analysts who track whale positioning as a leading signal.

Bitcoin is currently approaching a key technical zone. The asset is testing both the True Market Mean and the short-term holder cost basis near $78,000, with the 200-day moving average sitting above $81,000. Reclaiming that level would be seen by many traders as a first step toward structural recovery.

Why some traders are not convinced a bottom is in

Rising margin longs during a sustained price decline can also signal that a clear price floor has not yet occurred. When leveraged long positions accumulate, the market becomes vulnerable to a cascade of liquidations if prices continue falling, amplifying downside pressure rather than absorbing it.

Crypto.news has tracked analyst commentary throughout 2026 that consistently pointed to $78,000 to $81,000 as the key zone for Bitcoin to reclaim before a sustained recovery becomes probable.

The divergence between rising margin exposure and falling prices reflects an ongoing standoff between dip buyers and sellers. The Bitcoin price page tracks real-time movements as that standoff plays out.

Jane Street has rejected new insider trading claims centred on a private Telegram channel during the 2022 Terra collapse.

A Manhattan federal complaint alleges Jane Street used a private Telegram channel to exit $192 million in TerraUSD before its May 2022 collapse. The suit claims the firm made approximately $134 million betting against the token as Terra’s ecosystem unraveled.

The case was filed by the administrator winding down Terraform Labs and also names Jane Street co-founder Robert Granieri and trader Michael Huang. The complaint alleges a former Terraform intern who later joined Jane Street relayed non-public information through the private channel, enabling the firm to sell ahead of the depeg.

The Telegram backchannel at the centre of the insider trading complaint

On May 7, 2022, Jane Street allegedly sold 85 million UST minutes after Terraform withdrew 150 million from a key Curve pool. Crypto.news has reported on the broader lawsuit, filed in February 2026 by court-appointed administrator Todd Snyder.

“This suit is a transparent attempt to extract money when it is well-established that the losses suffered by Terra and Luna holders were the result of a multi-billion dollar fraud perpetrated by the management of Terraform Labs,” a spokesperson said.

Jane Street asked a Manhattan court in April 2026 to dismiss the case with prejudice, arguing its trading was based on public information. The motion also cited the Wagoner rule, which limits a bankruptcy estate’s ability to sue third parties for losses tied to its own wrongdoing. The court has not yet ruled.

Why the case matters for crypto market regulation

The lawsuit draws on a 2023 ruling that UST and Luna qualified as securities. That precedent strengthens the legal footing for the securities fraud claims against Jane Street.

Terraform’s administrator also separately sued Jane Street in February 2026 over the initial front-running allegations tied to the Curve pool withdrawal.

Do Kwon, Terraform’s co-founder, has pleaded guilty to conspiracy and wire fraud and is serving a 15-year prison sentence. Administrator Todd Snyder previously stated that Jane Street’s trades hastened Terraform’s collapse by draining liquidity and accelerating market panic.

Tether has acquired SoftBank Group’s stake in Twenty One Capital, the Bitcoin treasury company that is expanding into lending, mining and capital markets services, in a move that gives the stablecoin issuer greater control over one of the largest publicly traded Bitcoin holders. 

In an announcement on Wednesday, Tether said it purchased SoftBank’s roughly 26% stake for an undisclosed amount. SoftBank was one of the earliest backers of Twenty One Capital, which launched in 2025 as a Bitcoin (BTC) treasury company backed by Cantor Fitzgerald and led by Jack Mallers.

Neither controlling shareholder Tether nor Twenty One Capital disclosed the size of Tether’s stake. As part of the ownership change, SoftBank’s representatives will step down from Twenty One Capital’s board of directors.

The transaction further consolidates ownership under Tether, which deepens the stablecoin issuer’s influence over the company’s strategy and governance.

The ownership changes come as publicly traded Bitcoin treasury companies face greater pressure during periods of market weakness. When Bitcoin prices fall, the value of their core asset declines, reducing net asset value and making it more difficult to raise fresh capital without diluting existing shareholders. 

Twenty One Capital’s Bitcoin treasury is worth roughly $3.34 billion. Source: BitcoinTreasuries.NET

Related: Michael Saylor floated Bitcoin sales idea to avoid ‘impairing’ the asset

Twenty One Capital shares rise but volatility remains

Separately, Twenty One Capital outlined plans to move beyond a pure Bitcoin treasury model and become a broader Bitcoin-focused financial services company. It intends to combine its treasury operations with Bitcoin lending, mining and capital markets activities

Shares of Twenty One Capital were up 4% at last look on Wednesday morning following the news.

Twenty One Capital’s stock performance. Source: Yahoo Finance

Today’s gains clawed back some of the 37% decline investors have seen since XXI stock began trading on the New York Stock Exchange in December following its business combination with Cantor Equity Partners.

Earlier developments had already pointed to possible changes at the company. As Cointelegraph reported in April, Tether said it intended to vote in favor of a proposed merger between Twenty One Capital and Mallers’ Bitcoin payments company Strike. The plan also contemplated merging the combined entity with Bitcoin miner Elektron Energy.

Related: Crypto Biz: Bitcoin treasuries break ranks as BTC dips below $70K

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Crypto-aligned political action committees (PACs) backed by industry participants secured a string of wins in three U.S. state primaries on Tuesday, signaling a potential blueprint for crypto politics ahead of the 2026 midterms. The Fairshake network and its affiliates deployed sizable media spend to back a slate of candidates, with the funding stream largely anchored by Ripple Labs and Coinbase. The groups are coordinating through vehicles such as Defend American Jobs (supporting Republicans) and Protect Progress (for Democrats perceived as pro-crypto).

In Georgia and Kentucky, four Republican candidates and one Democrat won their respective primaries for U.S. Senate and House seats, while a Republican in Alabama advanced to a runoff. The successes underscore the willingness of crypto-affiliated committees to pursue both partisan angles in pursuit of policy-friendly outcomes.

“Fairshake’s 6-0 sweep tonight was a clear victory for pro-crypto leaders across the country,” Fairshake spokesperson Geoff Vetter told Cointelegraph. He added, “This powerful bipartisan mandate is being heard across America from Georgia to Alabama to Kentucky.”

According to Federal Election Commission filings, Protect Progress spent more than $4.2 million to back Jasmine Clark, who is running in Georgia’s 13th Congressional District. Defend American Jobs reported substantial media expenditures on Republican candidates: $455,000 for Clay Fuller in Georgia’s 14th district, $709,000 for Houston Gaines in Georgia’s 10th district, $431,000 for Jim Kingston in Georgia’s 1st district, and $7.2 million for Kentucky’s U.S. Senate seat. In Alabama, Barry Moore was backed with $7.4 million from Defend American Jobs in his run for the U.S. Senate, setting up a runoff against state Attorney General Steve Marshall and Republican candidate Jared Hudson after no candidate secured a majority in the primary.

Fairshake and its crypto industry backers are positioning their spending as a long-term strategy. A spokesperson indicated the aim is to mobilize support for pro-crypto leadership in 2026, with the group forecasting continued, substantial media expenditures to counter anti-crypto positions. The organization has reported a war chest of about $193 million, a figure far larger than its $130 million outlay in 2024 for media and advertising to influence congressional races. This scale reflects a broader strategy to shape policy conversations around regulation, taxation, and market structure in ways favorable to the industry.

Related reporting notes broader patterns in crypto PAC activity, including prior efforts that did not achieve expected influence. For example, Fairshake spent roughly $8 million opposing Illinois Lieutenant Governor Juliana Stratton in a U.S. Senate primary, yet Stratton won with more than 40% of the vote, illustrating the challenges of converting large media spend into decisive electoral outcomes.

Texas runoff tests crypto‑PAC influence

In Texas, Protect Progress has intensified its media investment to bolster Democratic candidate Christian Menefee in the race to unseat incumbent Al Green in Texas’ 18th Congressional District. Federal Election Commission filings indicate Protect Progress allocated more than $4.1 million to support Menefee and reported more than $2.8 million in media buys opposing Green, who has expressed anti-crypto views and supported votes against several crypto policy proposals, including the GENIUS Act (stablecoins) and the CLARITY Act (digital asset market structure).

Preliminary runoff dynamics in Texas reflect the complexity of crypto PAC strategy at the state level: Protect Progress previously spent more than $1.5 million opposing Green ahead of a March primary, but neither candidate secured a majority, triggering the upcoming runoff. The Texas contest adds to a broader narrative about crypto-aligned funding influencing candidate positioning on policy, regulatory oversight, and fintech innovation at the state level.

These developments appear within a wider regulatory frame. While the primary focus is electoral, the activity intersects with ongoing U.S. regulatory scrutiny of crypto markets—the SEC, CFTC, and DOJ remain central to enforcement and policy shaping. Observers note that such PAC activity can have implications for licensing, KYC/AML compliance, and cross-border policy alignment, particularly as U.S. states experiment with their own digital-asset frameworks while federal agencies assess uniform standards. In a comparative sense, regulatory trajectories abroad—such as the European Union’s MiCA framework—underscore a global significance to political economy decisions around crypto policy.

Historical context, risk considerations, and compliance implications

The crypto industry’s growing involvement in electoral politics reflects a strategic effort to influence policy direction in a landscape of evolving rules and enforcement priorities. The scale of spending—multimillion-dollar media buys and targeted district focus—highlights both opportunity and risk for participating firms. While such campaigns can advance policy priorities, they also elevate compliance considerations, including disclosure requirements, attribution practices, and the potential for heightened scrutiny from regulators and the public. Institutions engaging in or monitoring these activities should weigh the governance implications, including how such spending aligns with internal compliance frameworks and risk appetites in relation to regulatory expectations.

Looking ahead, the 2026 midterms loom as a critical inflection point. The continued deployment of pro-crypto messaging through PACs could influence candidate selection, committee assignments, and policy coalitions on issues such as stablecoin regulation, market structure, and the integration of crypto with traditional financial institutions. Analysts and compliance teams should monitor fundraising disclosures, media strategies, and endorsements to gauge how this activity may shape regulatory debates at both state and federal levels. The evolving policy environment will likely require ongoing assessment of political risk, licensing considerations, and cross-border regulatory alignment as the sector navigates a complex and rapidly changing framework.

Closing perspective: As crypto policy remains unsettled, the alignment of industry funding with specific candidates and district-level policy priorities will continue to draw attention from regulators, financial institutions, and legal professionals seeking to understand how electoral dynamics translate into practical regulatory outcomes and enforcement focus.

Senator Lummis says a Clarity Act Senate floor vote could come before August, with passage odds at 75%.

A Senate floor vote on the Clarity Act could come within 30 days, with Galaxy Research raising its 2026 passage probability to 75% following last week’s 15-9 bipartisan Senate Banking Committee vote.

Senator Cynthia Lummis struck a measured tone. “Nobody is popping the champagne quite yet. There’s still a lot of work to do,” she said. On timing she was direct: “I would love to have this bill on the floor in June. That’s probably pretty optimistic.”

What still has to happen before a Senate floor vote

The bill must first be merged with a Senate Agriculture Committee version that differs on CFTC jurisdiction provisions. After reconciliation, the combined text needs 60 Senate floor votes to clear a filibuster.

Crypto.news has tracked the compressed legislative calendar throughout 2026, with the Memorial Day recess now passed as an earlier hard deadline. Galaxy Research head of research Alex Thorn estimates a signing during the week of August 3 in the optimistic scenario.

What a Clarity Act signing would mean for crypto markets

Galaxy Research’s 75% probability is the highest institutional estimate on record for the bill. White House crypto adviser Patrick Witt said Clarity Act passage would deliver roughly 90% of what the crypto industry needs from Congress.

Analysts at Standard Chartered have estimated passage could unlock $4 to $8 billion in additional XRP ETF inflows alone. The XRP price page tracks market reaction against the legislative backdrop in real time.

Why the ethics provision is the last major obstacle

Two Senate Democrats voted yes in the Banking Committee, but reaching 60 floor votes requires seven more Democratic crossovers. The primary sticking point is a conflict-of-interest provision covering elected officials participating in crypto markets.

Cody Carbone of the Digital Chamber told reporters a deal on the ethics provision would likely be completed before the bill goes to the floor. “I imagine the deal will be completed before this goes to the floor, because they’ll want to only bring it to the floor if they feel confident they’ve got 60,” he said.

SpaceX’s latest SEC filing reveals a Bitcoin position of 18,712 coins, valued at about $1.45 billion at current prices, with an average purchase price of $35,320 per BTC. The disclosure, embedded in the company’s S-1 registration statement, places SpaceX among the largest bitcoin-holding corporate treasuries and exceeds prior estimates from blockchain trackers.

The disclosure coincides with SpaceX’s bid to go public, a process that could see the company raise around $75 billion and reach an implied valuation between $1.75 trillion and $2 trillion. In that scenario, owning SpaceX stock would also provide exposure to its Bitcoin stash, adding a crypto dimension to an otherwise aerospace- and AI-centric business lineup.

Key takeaways

• SpaceX reports 18,712 BTC in its S-1 filing, representing about $1.45 billion at current prices, with an average cost of $35,320 per BTC.
• The holdings position SpaceX as the seventh-largest BTC asset among public companies, surpassing peers like Tesla, which holds 11,509 BTC.
• Earlier estimates from trackers such as BitcoinTreasuries.NET and Arkham had placed SpaceX’s BTC at around 8,285, illustrating how official disclosures can differ from market tallies.
• SpaceX’s IPO plan aims to raise roughly $75 billion, with a valuation explored in the range of $1.75 trillion to $2 trillion, potentially enabling equity holders to gain crypto exposure alongside aerospace and AI ventures.
• The filing frames SpaceX as pursuing what it calls one of the largest actionable total addressable markets in history, a $28.5 trillion opportunity spanning AI, space, and connectivity.

SpaceX’s BTC position and the IPO pairing

The S-1 filing shows SpaceX’s 18,712 BTC stake was acquired at an average price of $35,320 per coin, a figure that helps contextualize the company’s willingness to hold crypto as part of its corporate treasury strategy. In the public markets, this level of Bitcoin exposure is rare for a private company that is now transitioning toward an offering that could bring the treasury into the limelight for public investors. The 18,712 BTC tally places SpaceX ahead of several large holders among publicly traded or soon-to-be-public entities, and it underscores how crypto assets have become a strategic asset class for corporate balance sheets.

The filing explicitly ties the Bitcoin position to SpaceX’s broader capital-raising plan. If the IPO proceeds as outlined, investors would gain not only a stake in a diversified aerospace-and-AI platform but also a direct link to Bitcoin through the equity instrument. This dynamic—crypto exposure embedded in a mega-cap tech/group IPO—highlights a growing appetite among high-profile private firms to leverage public markets as a funding channel while maintaining crypto exposure as a strategic asset.

SpaceX versus peers and the trackers’ estimates

The SEC document marks a notable shift from prior third-party estimates. Tesla, another high-profile corporate BTC holder, is reported to hold 11,509 BTC, which means SpaceX’s disclosed holdings exceed Tesla’s. The discrepancy with tracker estimates—BitcoinTreasuries.NET and Arkham had pegged SpaceX at roughly 8,285 BTC—illustrates the challenges of cross-verifying private treasury positions until formal filings surface. This gap between trackers and official filings is a reminder of how quickly crypto balances can move and how much is still opaque in private holdings until disclosed in regulatory documents.

Beyond the raw numbers, the comparison signals changing attitudes toward corporate crypto. SpaceX’s approach — acquiring a sizable BTC stake and seeking public-market liquidity — contrasts with earlier adoptions that treated BTC as an opportunistic diversification rather than a structural asset class embedded in corporate strategy.

Toward a massive addressable market and long-term implications

In the same filing, SpaceX frames its ambitions within a sweeping total addressable market, pegging a potential opportunity of about $28.5 trillion across AI, space, and connectivity. That figure reflects not only the company’s ambitions in satellite internet (Starlink) and orbital infrastructure but also the strategic leverage of AI-enabled systems and data services. If realized, the combination of a sizable crypto treasury and a public-market financing event could reshape how SpaceX funds next-generation projects—from Starlink expansion to orbital data centers and even long-term ambitions like interplanetary missions.

SpaceX is among a small cohort of highly valued private firms anticipated to pursue public listings in 2026, alongside AI-centric rivals. The IPO route could unlock billions in capital while bolstering investor access to a company that sits at the intersection of aerospace, communications infrastructure, and advanced AI development. For market participants, the key takeaway is not only the BTC balance but what the financing strategy reveals about SpaceX’s longer-term business model and growth trajectory.

The combination of a substantial Bitcoin treasury and a high-stakes public offering underscores a broader trend: crypto assets are increasingly integrated into the strategic DNA of large technology and infrastructure players. For investors, the implications are twofold. First, SpaceX stock could offer indirect exposure to Bitcoin through a widely traded equity instrument, potentially pairing crypto sensitivity with a diversified tech portfolio. Second, the IPO will spotlight how crypto assets are treated in valuation models for mega-cap issuers, particularly when those assets are integrated into a company’s strategic financing toolkit.

As SpaceX navigates the regulatory and market pathways to become a public company, observers will be watching how the treasury policy evolves, whether additional Bitcoin purchases surface before or after the IPO, and how the company articulates the role of crypto within its broader corporate strategy. The coming months will reveal how much of SpaceX’s crypto stance is a temporary hedge, a long-term treasury policy, or a signal of a fundamentally crypto-forward corporate culture.

What remains uncertain is how investors will price the interplay between SpaceX’s growth prospects, its ambitious connectivity and AI initiatives, and the Bitcoin position that now sits at the heart of its reported treasury. Readers looking for the next updates should track SpaceX’s regulatory disclosures and any further color on how the crypto holding aligns with the company’s stated mission and capital-raising milestones.

TLDR

• A South Korean funeral company reported a $33 million unrealized loss from a leveraged Ethereum ETF investment.
• The firm used prepaid customer funeral funds to invest in a high-risk crypto-linked exchange-traded fund.
• The investment dropped from 59.5 billion won to 10.2 billion won by the end of 2025.
• The ETF aimed to deliver twice the daily returns of a crypto mining company tied to Ethereum.
• Company officials described the loss as temporary and linked it to global market volatility.

---

A South Korean funeral services company has reported a $33 million unrealized loss tied to an Ethereum ETF-linked investment. The firm used prepaid customer funds to buy a leveraged crypto-related ETF, raising concerns in South Korea. The loss highlights risks tied to holding leveraged Ethereum ETF products over extended periods.

South Korea Ethereum ETF Bet Triggers Major Loss

Bumo Sarang disclosed an unrealized loss of 49.3 billion won, or about $33 million. The company confirmed the figures in a recent financial update.

The firm had invested 59.5 billion won into a leveraged exchange-traded fund. That position fell to 10.2 billion won by the end of 2025.

The ETF tracks BitMine Immersion Technologies, a crypto mining company with exposure to Ethereum. It trades under the ticker BMNU and aims to deliver twice daily returns.

Bumo Sarang ranks as South Korea’s seventh-largest funeral service provider. The company manages prepaid funeral service contracts from customers.

Company representatives described the loss as temporary. They said it reflects “short-term unrealized loss due to global market volatility.”

The investment relied on a 2x leveraged ETF structure. This structure amplifies both gains and losses daily.

The ETF tracks BitMine Immersion Technologies, which trades under BMNR. The firm’s operations include Ethereum mining activities.

Leveraged ETF Structure Drives Losses

Leveraged ETFs rebalance daily to maintain target exposure. This design makes them unsuitable for long-term holding.

Daily compounding can erode value during volatile trading periods. This effect is widely known as volatility decay.

If the underlying stock rises 5%, the ETF targets a 10% gain. However, a 5% drop results in a 10% loss.

Over multiple days, price swings can reduce overall returns. This happens even if the underlying asset ends near its starting level.

Prepaid funeral funds require careful risk management. Customers expect those funds to remain stable until needed.

Using such funds for leveraged crypto-related investments creates a mismatch. The investment carries a higher risk than the obligation it supports.

The ETF involved is part of the T-REX leveraged product family. These funds include clear warnings about short-term usage.

Bumo Sarang has not reported realized losses yet. The company stated the position remains on its balance sheet as of late 2025.

Elon Musk’s aerospace company SpaceX reported holding 18,712 Bitcoin worth $1.45 billion in a recent filing, over 10,000 coins more than blockchain tracking firms had estimated. 

In the company’s S-1 registration statement, filed as part of its bid to become a public company on June 12, SpaceX revealed it purchased Bitcoin (BTC) at an average of $35,320 per coin. Its reported holdings would make it the seventh-largest among public companies.

SpaceX’s Bitcoin holdings as of Dec. 31, 2025. Source: SEC

SpaceX is poised to become the biggest IPO in capital markets history, aiming to raise around $75 billion with an estimated valuation of $1.75 trillion to $2 trillion. Buying its stock would give investors a way to gain exposure to Bitcoin, alongside the company’s aerospace and AI businesses. 

SpaceX Bitcoin accumulation began five years ago 

SpaceX began buying Bitcoin in early 2021, around the same time that Musk’s Tesla started investing in the cryptocurrency.

The latest SEC filing shows that SpaceX has considerably more Bitcoin than Tesla, which holds 11,509 Bitcoin. It also surpasses estimates from BitcoinTreasuries.NET and crypto analytics firm Arkham, which estimated SpaceX’s Bitcoin holdings at only 8,285 Bitcoin.

Related: Saylor’s Strategy scoops $2B Bitcoin, holdings reach 843,738 BTC 

BitcoinTreasuries.NET data shows that SpaceX only holds 8,285 Bitcoin on its balance sheet. Source: BitcoinTreasuries.NET

SpaceX chasing largest addressable market in “human history”

SpaceX is one of few private companies with large valuations looking to go public in 2026, along with AI firms OpenAI and Anthropic.

Going public could unlock billions of dollars in capital for the company to fund projects like Starlink, orbital data centers and potentially Mars colonization. 

In the filing, SpaceX said it is targeting the largest actionable total addressable market in “human history,” estimating a $28.5 trillion opportunity spanning AI, space and connectivity.

Magazine: eToro founder timed Bitcoin top perfectly due to belief in 4 year cycles

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

TLDR

• Fairshake PAC spent about $20 million to support candidates in three US primary races.
• All candidates backed by Fairshake PAC either won their races or advanced to runoffs.
• The spending targeted elections in Georgia, Alabama, and Kentucky.
• Affiliates Defend American Jobs and Protect Progress supported both Republican and Democratic candidates.
• Around $5 million funded advertising for Barry Moore’s Senate primary campaign in Alabama.
• Protect Progress previously supported Yadira Caraveo with about $2 million in her House primary race.

---

Fairshake PAC secured victories across key US primary races after deploying about $20 million in targeted spending. The crypto-backed political group supported candidates in Georgia, Alabama, and Kentucky. Every candidate it backed either won outright or advanced to a runoff.

Fairshake PAC Spending Drives Primary Wins

Fairshake PAC directed funds through affiliated groups supporting both Republicans and Democrats. These affiliates included Defend American Jobs and Protect Progress.

The PAC supported five Republican candidates and one Democrat in the latest primaries. Each backed candidate remained competitive after Tuesday’s results.

In Alabama, the group spent about $5 million supporting Representative Barry Moore’s Senate campaign. The funds financed a focused advertising push during the primary race.

Protect Progress previously backed Representative Yadira Caraveo with about $2 million. The support targeted her Democratic House primary campaign.

Fairshake PAC distributed remaining funds across races in Georgia and Kentucky. It focused on candidates open to digital asset regulation policies.

The strategy centered on competitive races rather than broad spending across many districts. This approach concentrated financial impact on fewer contests.

Crypto Industry Ramps up Political Spending

Fairshake PAC operates with financial backing from major crypto firms including Ripple Labs and Coinbase. The group plays a central role in industry political efforts.

Crypto-linked Super PACs plan to spend about $271 million during the 2026 midterm elections. Fairshake remains the primary vehicle for this spending.

The PAC reported spending about $130 million during the 2024 election cycle. It entered the current cycle with about $193 million in available funds.

These financial levels exceed many traditional corporate political action committees. The scale allows targeted spending in high-stakes races.

The PAC focuses on candidates who support clear crypto regulation frameworks. These include rules on stablecoins and token classification.

Industry priorities also include legislation defining securities and commodities in crypto markets. Exchanges seek clearer regulatory guidance through such measures.

Tuesday’s results extend Fairshake PAC’s track record in primary races. Backed candidates have consistently performed well in recent elections.

Campaign finance groups have raised concerns about rising industry political spending. Critics argue that large contributions may influence election outcomes.

Fairshake PAC has not issued a formal statement following the latest primary results. The election outcomes remain the most recent confirmed development.