Backpack's tokenized SpaceX share token has crossed 10,000 onchain holders on Solana, six days after listing alongside the company's Nasdaq debut. The milestone widens the holder gap with rival xStocks' SpaceX product and lands as Backpack chief executive Armani Ferrante stakes out a structural… Read the full story at The Defiant

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The ‘SpaceX exit liquidity’ narrative is everywhere since the IPO last week. Critics argue that the huge demand for SpaceX shares could let early investors, employees, or insiders sell stock at very high valuations while new buyers, especially retail investors, take the risk.

However, the S-1 filing, the lock-up calendar, and crypto futures positioning suggest the opposite, at least for now.

Who Can Sell SpaceX Shares Early?

It is critical to start with the supply side of the exit liquidity question. The offering sells only newly issued SpaceX shares. The company raised about $75 billion from 555.6 million new Class A shares, and the S-1 confirms that no existing holder sells at listing.

Every dollar goes to SpaceX itself, largely to fund its AI buildout. Many readers asking how to buy SpaceX IPO shares assume insiders sell to them directly. They do not.

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Insiders keep roughly 95.8% of the equity. Elon Musk and certain significant investors agreed to a 366-day lock-up, an agreement that blocks sales for a set period. Employees face restrictions too.

Lower-tier staff, such as welders, became paper millionaires this week, but their equity stays frozen until the first release window after Q2 earnings. They cannot dump SpaceX stock today, no matter how much they want to.

The one true carve-out is a directed share program covering up to 5% of the IPO shares for individuals selected by executives. Even they reportedly sell only after the first earnings report, and they buy fresh stock at the offer price.

So if nobody connected to SpaceX can sell today, who wants to sell later, and when does the door open?

The Billionaires Want Out, but the Lock-Up Sets the Date

The sellers in waiting are real, and this is where the SpaceX IPO exit liquidity story finds its grain of truth. Google or Alphabet holds about 5% of the company after the xAI merger diluted its earlier 6.11% stake.

That position could be worth up to $100 billion, a roughly 100x gain on its 2015 investment. They might want to liquidate some of that.

Early venture backers sound the same alarm.

Space Capital founder Chad Anderson told Fortune:

“We’ve been invested for almost ten years, it’s our business to return capital to investors.”

Yet, their exit runs through the SpaceX lock-up schedule. Up to 20% of eligible insider shares unlock after Q2 earnings, expected between mid July and September. Another 10% unlocks if SPCX holds 30% above the offer price for five of ten sessions. Five 7% tranches follow at 70, 90, 105, 120, and 135 days, with 28% more after Q3 earnings and full release at 180 days.

That metered supply meets a scheduled buyer. Nasdaq’s fast entry rule and MSCI’s early inclusion push index funds, and the retirement accounts behind them, to buy SpaceX stock within weeks of listing.

Passive inflows become standing demand for whatever insiders release. The financials explain why some may hurry.

SpaceX reported $18.7 billion in 2025 revenue with a $4.9 billion net loss, as Starlink’s $4.4 billion operating profit funded a $6.4 billion xAI loss. The SpaceX valuation sits near 94 times trailing sales, and Facebook’s staggered 2012 lock-up still ended 40% below its offer price.

Selling pressure is therefore scheduled, not imaginary.

Whether retail stands beneath it depends on who actually received the allocation.

Retail Was Cut Back, Not Loaded Up

If insiders planned to unload on small investors, the allocation should have maximized the retail bag. The opposite happened. Retail investors submitted more than $100 billion in orders to buy SpaceX IPO shares, exceeding the $75 billion deal size, and total demand reached 3.5 to 4 times the available stock.

SpaceX then cut the retail allocation to the low 20% range from a planned 30% because institutional appetite was strong. BlackRock alone ordered at least $5 billion, while sovereign funds took allocations of more than $1 billion each.

Mechanics weaken the bag-holder framing further. Fills were random or pro rata, depending on the broker, and brokers’ debit cash only for shares actually received. Anyone who failed to buy SpaceX shares in the offering simply keeps their money.

The exit liquidity story only works if retail ends up as the bag holder. That requires one of two traps. Either retail holds shares it cannot sell, or it got handed shares nobody else wanted.

SPCX retail escaped both, since it can sell from day one and received fewer shares than it ordered.

The post Is SpaceX the Ultimate Exit Liquidity for Billionaires? appeared first on BeInCrypto.

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Ondo Finance added 173 tokenized stocks and ETFs to Ondo Global Markets on Tuesday, pushing its catalog past 430 assets available across Ethereum, Solana, and BNB Chain. Ondo Finance's official X account announced the expansion on June 17. The batch spans some of the most capital-intensive corners… Read the full story at The Defiant

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The CME Group has said that it will sue the Commodity Futures Trading Commission (CFTC) over its decision to approve perpetual futures in the U.S.

CEO Terrence Duffy told CNBC on Wednesday that the firm plans to file the lawsuit on Thursday, saying its case will be based on the argument that perpetual futures are swaps under the Dodd-Frank Act.

Perpetuals Should Be Classified As Swaps

Duffy said CME believes the products should be treated as swaps instead of futures contracts, adding that the company’s benchmark licensing agreements mean providers offering them would need to work through the exchange.

“We have an exclusive license with every single provider of the benchmarks. So all of these would have to go through CME regardless of the perpetual,” said Duffy.

Perpetual futures are contracts that do not have an expiration date and allow traders to speculate on an asset’s price without directly owning it.

The development follows the CFTC’s May approval of Kalshi to offer BTC perpetual futures, making it the first time the product was greenlighted for the U.S. market. Meanwhile, the offering has already been widely used in international markets, with the prediction market platform already making plans to expand its range to include other cryptocurrencies.

Last year, Coinbase also became the first exchange to offer these derivatives to American investors through its Coinbase Financial Markets (CFM) platform.

Duffy Says CME is Ready for the Dispute

The CEO said the company has been preparing for the legal battle with its board for the past eight months and is prepared to proceed with the challenge.

“I’ve never shied away from one, and I won’t shy away from this…And that’s why I wanted to announce on your show that we will be filing this litigation tomorrow, because we are not taking this lightly,” he said.

Elsewhere, CFTC Chair Michael Selig has defended the agency’s decision to approve perpetual futures in the U.S., saying the move was aimed at allowing regulated products without expiration dates to become available domestically while ensuring they operate under American oversight.

The post CME Group to Sue CFTC Over Approval of Bitcoin Perpetual Futures appeared first on CryptoPotato.

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Key Highlights

• Intel stock soared following news of a strategic chip collaboration with Apple centered on domestic U.S. production facilities
• Major semiconductor names like Nvidia, Micron, and Broadcom staged a powerful comeback following recent weakness
• SpaceX experienced its most significant drop since its blockbuster public debut as early investors locked in returns
• Crude oil retreated on optimism surrounding potential diplomatic progress between the United States and Iran
• Apple cautioned investors that escalating memory and storage component expenses may necessitate higher device pricing

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Intel’s shares surged during Wednesday’s trading session following revelations that Apple intends to partner with the chipmaker on design and production initiatives within American borders. The strategic alliance between these tech giants is anticipated to focus on semiconductor projects as the nation intensifies efforts to expand domestic chip manufacturing capabilities.

This development arrives as welcome news for Intel during a critical transformation period. The company has been aggressively expanding its contract manufacturing operations—referred to internally as its foundry business—in an effort to challenge industry leaders such as TSMC and Samsung.

Semiconductor Sector Mounts Impressive Comeback

The wider chip industry experienced a robust trading day. Nvidia, Micron, Broadcom, and Marvell Technology each recorded significant advances following several challenging weeks.

Market participants had been stepping away from semiconductor investments amid worries about elevated valuations and interest rate dynamics. Numerous investors viewed the recent decline as an attractive entry point to rebuild positions.

Artificial intelligence continues serving as the primary catalyst for sector demand. Corporations are allocating substantial capital toward AI processors, data center infrastructure, and network equipment, with industry observers projecting this momentum to persist.

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SpaceX Experiences Profit-Taking Pressure Following Historic Public Offering

SpaceX endured one of its most challenging trading sessions since its market debut earlier in the year. Shares declined as initial investors capitalized on profits following the company’s unprecedented IPO performance.

The SpaceX public offering set records as the largest ever completed. The enterprise’s diversified operations spanning rocket technology, satellite broadband services, artificial intelligence, and defense contracting generated substantial early enthusiasm among market participants.

Industry analysts note that post-IPO price swings are typical following high-profile market entries. The stock is projected to exhibit continued volatility in coming sessions as market forces establish appropriate valuation levels.

Crude Prices Decline on Diplomatic Optimism

Oil prices retreated as market participants grew increasingly hopeful regarding potential diplomatic breakthrough between Washington and Tehran. Should Iran resume greater oil exports to international markets, global supply would expand and prices would face additional downward pressure.

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Decreasing crude costs typically provide relief for aviation companies, logistics firms, and end consumers. They can also alleviate pressure on monetary authorities working to contain inflationary forces.

Apple Signals Potential Device Price Increases

Apple informed the investment community that escalating expenses for memory and storage elements may result in price adjustments for upcoming product releases. The technology leader has been impacted by robust demand for AI-focused semiconductors, which has elevated costs for critical components within its supply chain.

Market watchers are monitoring whether potential price hikes will impact unit sales volumes and the company’s profitability metrics.

Apple’s cost warnings underscore how artificial intelligence investment is creating cascading effects throughout the broader technology landscape, influencing everything from enterprise computing infrastructure to consumer-facing electronics products.

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LAB jumped more than 19% in a single day, reclaiming the $17 area as whale wallets stacked fresh long positions. A parabolic curve on lower timeframes now points the token toward $19.

The move extends a recovery off the $7 support band, where larger holders defended price and printed a higher low. On-chain positioning and momentum readings now suggest buyers still hold the advantage.

Whale Wallets Pile Into LAB Longs

Whale positioning leans heavily bullish. The notional long-to-short ratio is 260.67%, indicating long exposure outweighs shorts by roughly 2.6 times across 214 tracked whales.

The 129 long whales hold $27.58 million in positions at an average entry of $10.25. That cohort shows 92.24% profitability and $4.73 million in unrealized gains.

The 85 short whales tell the opposite story. They hold $10.58 million at an average entry of $10.85, yet only 4.70% sit in profit, with $1.30 million in unrealized losses.

Short-term flow confirms the same bias. Over the past hour, 67 whales bought against 35 sellers, with net buy volume of $490,000 versus $179,000 in net selling.

This accumulation echoes recent whale buying across other altcoins. A sustained move below the $13 zone would be the first sign that longs are unwinding.

RSI Climbs Toward Overbought Territory

On the daily chart, LAB reclaimed the $16 area with a daily candle up more than 19%, extending the uptrend that began at the May 29 low after the price bounced off the $7 support band and printed a higher low (blue circle).

The token now tests the 0.5 Fibonacci retracement at $16.03 as resistance, with the 0.382 level near $18.84 standing as the next upside target if buyers hold control.

Momentum supports the whale bias, though it carries a warning. The daily Relative Strength Index (RSI) reads near 65 and is rising into bullish territory.

On the hourly chart, RSI trades inside an ascending parallel channel and sits just above the midline. That structure leaves room for a push toward the channel’s overbought extreme.

However, the advance comes on thin volume. A parabolic move into overbought conditions on weak participation often precedes sharp pullbacks. Therefore, the same readings that look bullish now could flip quickly if buyers fail to follow through.

LAB Price Prediction and the $13 Line

The hourly chart shows LAB tracking a steepening parabolic curve since the May 29 low. The token trades near $15.46 and is testing the 0.5 Fibonacci retracement at $16.03 as immediate resistance.

A clean break opens the path to the 0.382 Fibonacci level near $18.84, just below $19. That target is roughly 22% above the current price and aligns with the rally’s next logical resistance level.

Momentum favors that scenario in the near term. However, parabolic structures rarely hold for long, and the thin volume behind this leg keeps the risk of a fast reversal elevated.

The critical support is the 0.618 Fibonacci level at $13.21, the same $13 zone whales are watching. Losing it would invalidate the bullish thesis and expose the 0.786 level near $9.20.

Fundamentals add risk to the setup. A scheduled unlock of 282 million tokens in August could pressure a market still recovering from its June crash, when LAB fell 77% from its record high of $27.96.

For now, LAB price holds above support and eyes $19, but $13 remains the level that decides the trend.

The post BNB Chain’s LAB Token Keeps Exploding in a Parabolic Rally: What’s Next? appeared first on BeInCrypto.

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Key Takeaways

• Strategy’s common stock plummeted nearly 6%, settling around $109 following STRC preferred stock’s decline to an all-time low of $89
• The STRC price drop beneath $100 par value has suspended Strategy’s capacity to issue additional shares for bitcoin acquisitions
• In May, Strategy liquidated 32 bitcoin — marking its first cryptocurrency sale since 2022 — to cover STRC dividend obligations
• Board member Jarrod Patten offloaded approximately $9 million in MSTR shares across a three-month period; additional executives sold earlier this year
• Wall Street firms including Bernstein, TD Cowen, Citigroup, and BTIG maintained positive ratings with price objectives ranging from $250 to $450

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Strategy (MSTR) shares experienced a sharp 6% decline Thursday, hovering near $109, as the company confronted mounting challenges from several fronts — deteriorating preferred share valuations, executive stock sales, and a subdued cryptocurrency market following the Federal Reserve’s recent policy announcement.

Strategy Inc, MSTR

The primary catalyst was the decline of STRC, Strategy’s Stretch preferred stock, which plummeted to an unprecedented low of $89. This development carries significant implications because STRC’s trading price below its $100 par value has compelled Strategy to suspend its at-the-market offering program — the principal vehicle through which it generates capital for bitcoin purchases.

With this financing avenue now closed, Strategy’s fundamental bitcoin acquisition model has ground to a halt.

Company Breaks Bitcoin-Only Policy

Toward the end of May, Strategy liquidated 32 bitcoin for roughly $2.5 million to satisfy STRC dividend requirements. This transaction represented the company’s first bitcoin sale since initiating its accumulation program in 2022.

Executive Chairman Michael Saylor had consistently championed a hold-only approach. The sale marked a significant shift from that established strategy, though analysts from Benchmark and TD Cowen dismissed concerns about a wider strategic unraveling.

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Compounding the competitive dynamics, Strive’s competing SATA preferred stock maintains trading above $99 while offering a 13.69% yield, attracting dividend-seeking investors toward an alternative vehicle.

Market analytics firm QCP calculates Strategy possesses approximately 7.5 months of remaining liquidity to satisfy preferred dividend commitments. QCP highlighted the company may ultimately confront a decision between securing additional capital, further diluting existing shareholders, or liquidating additional bitcoin holdings.

Strategy recently bought back nearly $1.5 billion in convertible debt instruments maturing in 2029 while simultaneously raising approximately $200 million through MSTR equity sales — a portion of which financed another $100 million bitcoin purchase.

Director Stock Sales Compound Concerns

Director Jarrod Patten exercised options on 1,500 Class A shares at an exercise price of $18.236 and disposed of them at approximately $134, netting roughly $200,000. Throughout the preceding three months, Patten has divested 55,750 MSTR shares generating total proceeds near $9 million.

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He maintains ownership of 28,406 Class A shares along with 44,250 outstanding director options.

Earlier this year, CEO Phong Le, CFO Andrew Kang, and former EVP Wei-Ming Shao similarly sold millions in MSTR equity.

The Federal Reserve’s June 17 unanimous 12-0 decision maintained interest rates at 3.50%–3.75%, though the updated dot plot revealed nine of 18 FOMC participants now anticipate at least one rate increase before 2026 concludes. This hawkish shift pressured bitcoin and cryptocurrency-related equities despite broader market strength.

Bitcoin was trading around $63,850 at publication time, declining approximately 2% over 24 hours. At this valuation, Strategy’s holdings reflect an unrealized loss of roughly $11,658 per coin relative to its average purchase price.

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MSTR finished Wednesday’s session down 5.09% at $116.56, followed by an additional 2.1% drop to $114.04 during Thursday morning trading. The equity has now declined approximately 31% over the trailing month.

Notwithstanding these headwinds, Bernstein maintained its buy recommendation with a $450 price objective. TD Cowen sustains its $350 target, Citigroup at $260, and BTIG at $250.

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