SpaceX stock started trading on the Nasdaq on Friday after the company completed a record-breaking public offering. The aerospace and satellite company priced its shares at $135 each and raised about $75 billion through the sale of 555.6 million shares.

The listing marked the end of SpaceX’s status as a private company. The offering assigned the company an initial market value of around $1.78 trillion. SpaceX trades under the ticker symbol SPCX.

Strong Demand Supports SpaceX IPO

Investor interest remained high ahead of the market debut. According to Reuters, the offering attracted demand that exceeded the available shares by four times. However, large institutional investors often place larger orders to secure allocations, which means actual demand may differ from headline figures.

SpaceX and its underwriters also retained an option to sell roughly 83 million additional shares if demand remains strong. The shares carry a value of about $11.2 billion. Reports also indicated that retail investors submitted more than $100 billion in orders. In addition, the company aimed to allocate about 30% of shares to individual investors, a level above the 5% to 10% commonly seen in most public offerings.

Pricing Process Drew Attention

Reports showed that SpaceX stopped accepting orders on Wednesday, one day earlier than expected. The move gave the company and its banking partners additional time to determine share allocations before trading began.

On Friday morning, Nasdaq market makers started matching buy and sell orders to establish the opening price. This process often takes longer for large and closely watched listings. As a result, trading may begin well after the opening bell.

Market Performance Will Determine Initial Success

Once trading starts, market forces will determine the stock price. The company no longer controls pricing after the shares enter public trading.

Investors will closely monitor where the stock opens compared with the $135 offer price. They will also watch the closing price on the first trading day. Those figures will provide an early indication of how investors view the SpaceX IPO and whether the market considers the debut successful.

By completing the largest public offering on record, SpaceX has entered a new phase as a publicly traded company. Market participants will now focus on how the stock performs in the coming sessions.

TLDR:

• Blockworks acquired Messari for over $10M, merging crypto’s two largest data and analytics platforms.
• Messari covers 40,000+ crypto assets and operates one of the most powerful APIs in the industry.
• The deal targets both onchain asset issuers and institutional underwriters with a unified data layer.
• Blockworks aims to build a full system of record for onchain markets as institutions move onchain.

Blockworks has acquired Messari in a deal worth more than $10 million, combining two of crypto’s largest data and analytics platforms.

Both firms launched in 2018 and have since built distinct but complementary capabilities across research, market intelligence, and API infrastructure.

The acquisition follows a recent Blockworks Series A extension, which valued the company at $192 million. Co-founders Jason Yanowitz and Michael Ippolito described the move as a step toward creating a trusted system of record for onchain markets.

Messari Brings Critical Data Infrastructure to the Combined Entity

Messari has spent eight years building comprehensive coverage across more than 40,000 crypto assets. Its platform tracks assets, markets, exchanges, stablecoins, protocols, token unlocks, fundraising, and social sentiment.

This data is already embedded in fund workflows, exchange listing processes, and developer applications across the industry.

The Messari API is widely regarded as one of the most powerful in the sector. It allows funds, exchanges, and developers to pipe structured data directly into their own systems. As crypto trading increasingly moves toward automation, API quality becomes a core competitive factor.

Yanowitz explained the reasoning behind the deal directly. “An agent is only as good as the data it can reach and the API it can call,” he wrote. “That is why Messari matters.” The statement captures how the acquisition is framed around infrastructure, not just market share.

Messari also provides AI-compatible data infrastructure, making it accessible to agentic workflows. The firm’s tools have evolved beyond human users to serve machine-driven processes. This positions its data layer as essential for the next phase of market structure.

Before the acquisition, Messari underwent internal leadership changes and workforce reductions. Those shifts created an opening for consolidation within the fragmented crypto data sector. Blockworks moved quickly after closing its Series A extension to pursue this deal.

Blockworks and Messari Target Institutional Onchain Finance

As traditional financial assets move onchain, the infrastructure requirements are changing fast. Issuers of onchain assets need standardized disclosures, investor relations tools, and performance tracking.

Blockworks has been developing exactly this through its Token Transparency Framework and full-stack IR platform.

On the other side of the market, underwriters need reliable data to diligence and monitor assets. These include funds, exchanges, custodians, brokerages, regulators, and AI agents. Messari’s market intelligence and API coverage directly serve this group.

Yanowitz and Ippolito outlined the combined mission in a joint statement. “Our mission is simple: Bring transparency and trust to onchain markets as institutions come onchain,” they wrote.

“The acquisition of Messari accelerates this mission.” The statement reflects how both companies see the deal as a convergence of purpose.

The combined entity plans to offer compliance workflows, ratings, and programmatic data access for AI agents. In legacy markets, building this kind of infrastructure required significant analyst headcount. In crypto, the underlying data is already digital, structured, and available in real time.

Blockworks described the longer-term goal directly. “As stocks, bonds, currencies, and commodities move onchain, more of the market will run onchain,” Yanowitz wrote.

“Everything runs on Blockworks.” The Messari acquisition moves that vision from concept to execution.

Dogecoin has climbed as much as 7.6% and briefly touched $0.091 after SpaceX’s blockbuster stock market debut pushed Elon Musk’s net worth above the $1 trillion mark.

According to market data, Dogecoin (DOGE) rose to an intraday high of $0.091 on June 12 before retreating to around $0.087 at press time, giving back part of its gains as traders reacted to renewed interest surrounding Elon Musk and SpaceX.

The rally came after SpaceX began trading on U.S. exchanges at $150 per share, an 11% premium to its $135 IPO price. Shares later surged to $176 before easing to roughly $161. The move lifted the aerospace company’s valuation above $2.1 trillion and, based on estimates tied to Musk’s ownership stake, made him the first person to surpass a $1 trillion fortune.

Across the crypto market, the listing coincided with a rebound in risk assets. Bitcoin moved back above the $64,000 level after recent weakness, while several major digital assets recovered part of their losses.

Dogecoin, which has frequently responded to developments involving Musk, emerged as one of the strongest performers during the session.

Technical indicators point to improving momentum

On the four-hour chart, DOGE has recovered from its June 6 low near $0.0776 and broken above a descending trendline that had capped prices for more than a week. The token also climbed back above the 0.618 Fibonacci retracement level near $0.0867, a zone that is now being watched as near-term support.

Momentum indicators have also improved. The MACD histogram has turned positive, and the MACD line remains above the signal line, suggesting buying pressure has strengthened following the recent rebound.

At the same time, the recovery remains incomplete. The Supertrend indicator continues to show resistance near $0.088, a level DOGE has only recently begun testing. A sustained move above that area could bring the next Fibonacci resistance zones around $0.0896 and $0.0924 into focus, while a rejection could expose support near $0.0827 and the recent low.

Analysts warn enthusiasm may not last

Despite the positive reaction, some market observers remain cautious about the durability of the move.

Several analysts have argued that Dogecoin’s surge may be driven primarily by excitement surrounding Musk’s trillionaire milestone and SpaceX’s highly anticipated public debut rather than a change in Dogecoin’s underlying fundamentals.

Additional concerns stem from the outlook for Bitcoin. In a recent report, Galaxy Digital projected that Bitcoin could eventually fall toward $30,000 before establishing a market bottom. Such a scenario, if it materializes, could weigh on sentiment across the digital asset market, including speculative assets such as Dogecoin.

For now, DOGE remains tied to the attention generated by Musk’s latest achievement. While traders have responded positively to the SpaceX listing, the token’s inability to hold its intraday peak suggests some investors are already locking in profits as the initial excitement begins to cool.

Even as crypto markets have spent much of the year swinging to macro news and regulatory uncertainty, tokenization has continued to move forward—pushing real-world assets (RWAs) into a more central role for the industry.

This week’s developments highlighted that divide: Kraken launched tokenized access to the SpaceX IPO through its xStocks offering, Binance Research pointed to rapid RWA growth, prediction markets crossed above onchain gambling by volume for the first time, and former FTX CEO Sam Bankman-Fried took another step in his legal fight by formally seeking a presidential pardon from Donald Trump.

Key takeaways

• Binance Research says active tokenized RWAs have grown sharply since early 2025, with money-market and bond products adding $6.5B and tokenized stocks up 422%.
• Kraken is offering eligible users in 110+ markets tokenized access to the SpaceX IPO via xStocks, with tokenized shares issued as SPCXx backed 1:1 by the underlying equity.
• TRM Labs reports prediction markets generated $36.6B in Q1 2026 volume, surpassing onchain gambling’s $14B for the first time.
• Sam Bankman-Fried has formally applied for a presidential pardon, with the request showing up in the DOJ Office of the Pardon Attorney’s pending clemency list.

RWA tokenization keeps expanding beyond crypto’s swings

Tokenized real-world assets have remained one of crypto’s most consistent growth narratives, even when broader market conditions soften. According to data cited from Binance Research, the market for active tokenized RWAs has expanded by 589% since early 2025.

The composition of that growth also matters. The same Binance Research update attributes $6.5 billion in value gains to tokenized bonds and money market funds, while tokenized stocks posted a separate jump of 422%—suggesting that both fixed-income-like products and equity exposure are finding demand simultaneously.

Just as important, the RWA ecosystem is diversifying across asset classes and use cases. The article notes that Ondo Global Markets has helped drive interest in tokenized equities, while tokenized precious metals added $1.5 billion as investors sought safety earlier this year.

Adoption is also spreading through traditional finance infrastructure. The coverage highlights blockchain-related moves from established institutions, including Apex Group’s tokenized fund services and The Clearing House’s planned tokenized deposit network—signals that tokenization is increasingly being treated as an operational capability rather than a niche crypto experiment.

Kraken adds SpaceX IPO access via tokenized shares

Kraken’s latest tokenization push focuses on primary market participation. Through xStocks, the exchange says eligible users in more than 110 markets can gain access to the SpaceX IPO.

Per Kraken, investors who receive an allocation will be issued SPCXx, described as a tokenized representation backed 1:1 by the underlying equity. Kraken further states that these tokenized shares are tradable 24/7 across participating platforms.

The rollout arrives amid unusually high attention around SpaceX’s planned public debut. The coverage points to SpaceX targeting a $75 billion raise on Nasdaq and notes that the offering was reportedly oversubscribed by roughly four times ahead of public trading—positioning the deal as potentially the largest IPO in history.

For market participants, this matters because it tests whether tokenized equity distribution can function as a practical bridge between traditional allocation processes and the liquidity expectations associated with crypto rails. The key detail to watch is how Kraken’s “allocation to token” workflow performs at scale, particularly for investors in jurisdictions that qualify for xStocks access.

Prediction markets overtake onchain gambling by volume

Another sign of shifting user behavior comes from prediction markets. TRM Labs data cited in the report shows prediction markets surpassed onchain gambling by volume for the first time in Q1 2026.

TRM Labs says prediction markets generated $36.6 billion in volume versus gambling’s $14 billion during the same period. The milestone follows both categories crossing $50 billion in annual volume in 2025, underscoring how quickly both sectors have grown.

At the same time, the report emphasizes that crypto gambling has not stalled. Quarterly wagering volume remained close to record highs, and TRM Labs attributes the resilience to a loyal—and expanding—user base. According to TRM’s analysis, “high rollers” still account for most betting volume, averaging $13,558 per bet and $378,000 in lifetime gambling volume, but the fastest growth is coming from casual and daily bettors. That participation shift—moving beyond a narrow set of top-volume users—could help explain why prediction markets can surge without gambling collapsing.

Investors and builders watching these markets may want to track how liquidity and user acquisition dynamics differ between prediction platforms and gambling venues. Volume leadership can reflect product-market fit, but it can also reflect changes in user mix and platform distribution.

Bankman-Fried seeks Trump pardon as appeals continue

In the US legal arena, former FTX CEO Sam Bankman-Fried has formally applied for a presidential pardon from Donald Trump, according to the coverage. The report states the request appears on the DOJ Office of the Pardon Attorney’s list of pending clemency applications.

The pardon bid adds another layer to Bankman-Fried’s wider legal strategy. The coverage notes he is still appealing his 2023 fraud conviction and 25-year prison sentence, and that a separate attempt to secure a new trial had been denied.

The report also points to recent social media activity that appears increasingly aligned with Trump, while recalling that Trump previously said he did not plan to pardon Bankman-Fried. That tension highlights the uncertainty surrounding clemency applications: even when a pardon request is formally filed, the political and procedural outcome remains far from guaranteed.

For the broader crypto industry, this matters less for immediate market mechanics and more for precedent. Outcomes in high-profile cases often influence how regulators, courts, and market participants think about accountability, risk disclosures, and the long-term relationship between crypto firms and enforcement.

Looking ahead, the main threads to follow are whether tokenized equities can scale smoothly from headline deals like SpaceX into a broader primary-market pattern, whether RWA growth continues to outpace crypto’s macro-driven volatility, and how quickly prediction platforms can sustain volume growth while the legal process around major exchange founders continues in parallel.

Bitcoin pushed into fresh local highs around $64,000 during the early US session on Friday, helped by a modest improvement in broader risk sentiment tied to hopes of a US–Iran de-escalation. Even so, analysts flagged that some widely watched technical levels may not be as dependable as they appear, keeping traders alert to the possibility of renewed volatility.

At the same time, equity markets appeared to “pause” at the open while attention turned to Wall Street’s calendar of major events, including SpaceX’s IPO preparation. Data from TradingView indicated BTC/USD holding gains through the move, but sentiment remained fragile as investors continued to weigh inflation-linked macro signals.

Key takeaways

• BTC/USD rallied toward $64,000 in US trading as risk-asset sentiment received a limited boost from US–Iran peace hopes.
• Macro backdrop remained mixed: inflation concerns and the strength of the labor market were both emphasized by market analysts.
• Rekt Capital cautioned that the 200-week SMA near $62,025 has historically failed to hold as reliable support.
• Bitcoin’s price action below prior 2021 all-time-high territory could still be working through a multi-month pattern, per Rekt Capital.

Risk assets steady while US–Iran headlines move the tape

TradingView data, as cited in Cointelegraph’s coverage, showed Bitcoin maintaining gains during the US session while crypto and risk-asset markets digested a stream of conflicting signals. The immediate catalyst was not a Bitcoin-specific development, but rather improving expectations around a potential US–Iran agreement.

However, the situation also carried uncertainty. At the time of writing, there was no definitive, official confirmation that negotiations would translate into a deal, and US President Donald Trump publicly disputed the Iranian side’s account. In a post on Truth Social, Trump wrote that the other side’s statements were “weak and pathetic” and said they “bears no relation to the truth.”

With headline-driven sentiment, BTC’s upside momentum appeared more like a reflection of broader positioning than the start of a durable trend shift. Traders often respond quickly to risk-on cues—yet when clarity is missing, those moves can reverse just as fast.

Inflation anxiety persists, but equities look for reasons to hold up

Beyond geopolitical headlines, market participants were also focused on the macro mix. Mosaic Asset Company, in its latest “Mosaic Chart Alerts” update, argued that equity markets seemed to “shrug off” inflation headwinds even as inflation and labor conditions remained central to the narrative for valuations and monetary policy.

According to Mosaic, strong economic data was giving stocks an additional reason to rally. The firm also pointed out that some of the air had been released from the outsized momentum in AI infrastructure stocks, while laggards that had fallen from late March lows appeared to be turning upward more recently.

This matters for Bitcoin because—despite crypto’s growing maturity—BTC still frequently trades as a high-beta asset during macro-driven sessions. If inflation fears intensify or policy expectations shift sharply, liquidity conditions can change quickly and affect how much risk investors are willing to allocate.

SpaceX IPO highlights how Wall Street event risk can shape market tone

US stock trading got underway as SpaceX moved closer to what’s described as the largest IPO in history. Cointelegraph previously reported the IPO’s setup, and in this session coverage noted that shares were slated to debut at $170, $45 above the initial IPO price.

While an IPO does not directly determine Bitcoin’s technicals, major Wall Street events can influence day-to-day sentiment and cross-asset flows—especially during sessions when inflation and geopolitics are already competing for attention. For traders, that backdrop can mean wider intraday swings and faster rotation between risk-on and risk-off positioning.

Technical scrutiny: $62,025 200-week SMA questioned

Even with BTC testing new local highs near $64,000, some market participants remained cautious. Trader and analyst Rekt Capital zeroed in on Bitcoin’s long-term 200-week simple moving average (SMA), which was cited near $62,025.

Rekt Capital’s view was straightforward: Bitcoin is treating that 200-week SMA as support, but the level has “historically proven to be an unreliable support,” with price breaking down from it over time. In other words, the fact that BTC is above or near a major moving average does not automatically guarantee a stable floor.

Rekt Capital also pointed to another potential friction point: BTC/USD has dropped below old all-time highs from 2021. He suggested that this deviation often takes months to “fully develop” into a bear-market bottom, implying that the current phase may not be finished.

In a subsequent comment, Rekt Capital quantified the distance from those prior highs, stating that Bitcoin had deviated about -14% below old all-time-high levels thus far and that the process is “still technically ongoing” and could continue for a while.

For investors, the practical takeaway is not that BTC is destined to decline, but that the market may be in a longer adjustment period where support levels—especially those defined by higher-timeframe averages—are more likely to be tested than to provide certainty.

Going forward, traders will likely watch two things closely: whether BTC can sustain strength as macro headlines evolve, and whether the 200-week SMA around $62,025 continues to hold better than it has in past cycles. With geopolitical clarity still incomplete and macro data capable of shifting quickly, the next confirmed moves may come from broader risk sentiment as much as from Bitcoin-specific catalysts.