Chun Wang, the Chinese-born Maltese-Kittitian crypto investor who co-founded F2Pool, has been named Mission Commander for SpaceX’s first commercial human spaceflight interplanetary mission to Mars, crucial to Elon Musk’s plans to send one million people to the Red Planet.

Wang, whose mining pool controls roughly 11.3% of the global Bitcoin network hashrate and whose personal bitcoin assets are estimated to exceed $300 million, will take a two-year leave from his current role securing digital ledgers to leading humanity’s next frontier in deep space.

The SpaceX announcement comes as the company owner Elon Musk’s aggressive plans to colonize the Red Planet and establish a multi-planetary civilization continue to accelerate.

A two-year trek into the unknown

The ambitious, multi-phase timeline will take Wang on a a week-long circumlunar fly-by within approximately 125 miles of the moon’s surface alongside Dennis and Akiko Tito before launching on the historic Martian trajectory.

Target launch windows are currently driving technical preparations for a planned 2026 departure. Once launched, the crew will spend two consecutive years in space. The deep-space itinerary includes a full external exploration of the Earth-Moon system, a high-altitude fly-by of Mars, and a complex return trajectory back to Earth.

Navigating deep-space risks

Operating in deep space for 24 months introduces severe operational risks, including severe hardware fatigue and the volatile thermodynamics of managing cryogenic fuel during extended coasts in deep space.

To mitigate these hazards, SpaceX is debuting its next-generation Starship V3 architecture. The upgraded vehicle features vacuum-jacketed header feed lines, high-voltage cryogenic recirculation systems, and 60 integrated custom avionics units capable of handling distributed fault isolation up to 9MW of peak power.

The crew will faces acute biomedical dangers when gathering critical diagnostic telemetry. One of Wang’s team key tasks is performing advanced behavioral health tracking and capturing the first-ever human X-ray images in microgravity to evaluate long-duration physiological deterioration.

The path to a multi-planetary future

Wang’s mission is designed to deliver the crucial operational data required to transition Mars exploration from short-term novelties to permanent, self-sustaining habitats.

The data crew is expected to return to Earth, which will directly stress-test Starship’s autonomous navigation matrix, deep-space radiation shielding, and in-space propellant transfer mechanisms.

The SpaceX team’s findings will be vital to achieving Musk’s ultimate objective: verifying rapid vehicle reuse and validating the logistical baseline required to safely transport millions of tons of cargo and eventually a million citizens to the Martian surface.

The journey to Mars announcement comes as SpaceX, the satellite and space rocket company, confidentially filed for its public offering targeting a valuation upwards of $1.75 trillion, the largest in history. It also comes as Musk’s company officially revealed, for the first time, its bitcoin holdings, totaling 8,285 BTC.

TLDR

• Trump Media transferred 2,650 bitcoin worth about $205 million to Crypto.com.
• The transaction took place during late U.S. evening hours based on blockchain data.
• Trump Media originally purchased 11,542 BTC for about $1.37 billion at a higher average price.
• Bitcoin currently trades well below the company’s acquisition cost, leading to large unrealized losses.
• The company now faces an estimated $455 million loss on its bitcoin holdings.

Trump Media has transferred 2,650 Bitcoin worth about $205 million to Crypto.com. The move adds pressure on its crypto strategy as losses deepen. Trump Media now faces an estimated $455 million unrealized loss on its bitcoin holdings.

The transaction occurred late in U.S. evening hours, according to blockchain data. Analytics firm Lookonchain reported the transfer publicly.

Trump Media Bitcoin Transfer Raises Pressure on Crypto Strategy

The latest transfer involved 2,650 BTC moved to Crypto.com. Bitcoin traded near $77,341 during the transaction window.

Trump Media previously moved 2,000 BTC four months earlier. That earlier transfer was valued at about $175 million.

The company originally bought 11,542 BTC for about $1.37 billion. Its average purchase price stood at $118,522 per bitcoin.

Bitcoin now trades well below that acquisition level. This gap has led to a large unrealized loss.

Based on current prices, losses total around $455 million. The figure reflects the difference between purchase and market value.

Blockchain records confirm the timing and destination of the transfer. Lookonchain shared the data through a public update.

Financial Strain and ETF Withdrawal Follow Crypto Moves

The transfer comes days after Trump Media withdrew its spot bitcoin ETF application. Analysts said economics, not regulation, likely drove the decision.

ETF analysts stated the sector has seen weaker returns recently. They suggested profitability concerns influenced the withdrawal.

Trump Media has not issued a detailed statement on the ETF move. The company has also not clarified the purpose of the Bitcoin transfers.

Financial results show mounting pressure on the business. The company reported a first-quarter net loss of $405.9 million.

Revenue for the same quarter totaled just $871,200. That compares with a $31.7 million loss in the prior year period.

The widening loss reflects increased costs and investment exposure. Crypto holdings appear to contribute to financial volatility.

The company continues to hold a large bitcoin position despite recent transfers. Remaining holdings still exceed several thousand BTC.

Bitcoin price have remained below the firm’s average purchase level. This has kept unrealized losses elevated.

The latest blockchain transaction marks the most recent update in Trump Media’s crypto activity. No further transfers have been confirmed since the reported move.

Tanya Denisova, chief operating officer of Robinhood Crypto, is leaving the firm, according to two people with knowledge of the matter.

Denisova had been employed by the popular trading platform for over five years, according to her LinkedIn profile.

Neither Robinhood nor Denisova responded to requests for comments.

The departure comes amid Robinhood missing its first-quarter earnings and revenue estimates, mainly due to weaker crypto trading activities. Crypto-related revenue, one of Robinhood’s biggest sources of transaction income, fell 47% year over year to $134 million, down from $252 million. The drop comes as the company works to reduce its reliance on crypto market swings and reposition the business beyond price-cycle volatility.

Robinhood enables users to trade stocks, exchange-traded funds (ETFs), options, and cryptocurrencies through a mobile-first app. The company also offers retirement accounts, cash management services, and market insights designed to simplify investing and broaden access to financial markets.

The firm has expanded its presence in crypto by offering commission-free trading for major digital assets, including bitcoin BTC$75,716.87, ether (ETH), solana (SOL), and DOGE$0.1050, directly within its app.

The company also provides crypto wallets, onchain transfers, staking services in select markets, and educational tools aimed at newer investors. As part of its broader strategy to bridge traditional finance and digital assets, Robinhood has continued to grow its crypto offerings internationally while positioning itself as a simple, low-cost entry point into the crypto market

Read more: Robinhood stock falls 8% after big earnings miss due to weak crypto trading revenue

Seasoned crypto investor Kevin Warsh took his oath as the 17th Chair of the world’s most powerful central bank this morning. President Donald Trump presided over the oath at the White House, the first such ceremony there since Alan Greenspan’s initiation in 1987. 

Crypto investors are excited.

Warsh is 56 years old and disclosed roughly $190 million worth of assets earlier this year, including stakes in more than 20 crypto projects.

Jerome Powell, his predecessor, had very little interest in crypto and no disclosed crypto investments.

Warsh’s Office of Government Ethics disclosure from April, in stark contrast, was 69 pages long. It cataloged joint holdings with his wife, Estée Lauder heiress Jane Lauder.

Two positions in Stanley Druckenmiller’s funds were worth more than $50 million apiece.

A diversified investor, Warsh’s crypto exposure is smaller by allocation yet broad in scope. His disclosure names Solana, Optimism, dYdX, Compound, Polychain, Polymarket, DeSo, and Flashnet. Warsh holds most of these positions through the venture vehicles.

He’s committed to divest any conflicting positions and will also accept a one-year cooling-off period to ensure his investment management practices are long-term oriented. 

Crypto enthusiasts interpreted his portfolio as a resume.

Warsh’s Senate confirmation vote was a slim 54-45, the narrowest margin for an incoming Fed chair since at least the 1970s.

Kalshi is backing a new advocacy group to fight the gaming lobby over prediction market regulation.

The new organization, Americans for Fair Markets, launched on May 22 to shape federal policy on prediction markets and federally regulated exchanges. It will run paid and earned campaigns to counter what it describes as false narratives spread by sportsbook and casino interests.

AFM has tapped Taylor Budowich, who most recently served as Deputy White House Chief of Staff under Susie Wiles, as its strategic advisor. The hire signals Kalshi’s deepening ties to Republican political circles as the prediction market industry faces intensifying regulatory scrutiny.

Why Kalshi is escalating its lobbying effort

The launch comes as the gaming lobby mounts its own offensive. FairPredicts, a new group backed by casino interests and led by former Governor Chris Christie through the American Gaming Association, recently began a six-figure ad campaign targeting Kalshi directly.

“We’re not going to be outspent or out-organized by entrenched interests protecting their monopolies,” said John Bivona, AFM board member and Kalshi’s Head of Government Relations.

AFM will join the existing Coalition for Prediction Markets but focus specifically on campaign-style tactics. Kalshi has seen 32x growth in annualized trading volume, and the broader industry now represents roughly $500 billion in assets.

Federal Reserve Governor Christopher Waller warned that stubborn inflation and surging energy costs now outweigh labor market risks, signaling that rate hikes are “back on the table” and jolting expectations that had been primed for cuts a few months ago.

In a speech described as “hawkish” by Wall Street Journal economics correspondent Nick Timiraos, Waller argued that “inflation is not headed in the right direction” and that the balance of risks has shifted away from the labor market and toward price stability.

Why is Waller calling for an end to the Fed’s easing bias?

He pointed to April’s 3.8 percent year on year consumer price index reading and a 17.9 percent jump in energy costs, which he tied to Middle East conflicts that have pushed oil above $100 per barrel and filtered into gasoline, transport and production costs across the economy.

On the Fed’s preferred core PCE gauge, which strips out food and energy, Waller noted that inflation has climbed to 3.3 percent, the highest level in more than two years, even as unemployment holds around 4.3 percent and real GDP grows near 2 percent.

“Based on this recent data, I would support removing the ‘easing bias’ language in our policy statement to make it clear that a rate cut is no more likely in the future than a rate increase,” Waller said, in comments relayed by Bloomberg TV’s Annmarie Hordern.

At the same time, he stopped short of demanding an immediate move, with ZeroHedge highlighting his line that he does not think the Fed “should consider hikes in the near future,” framing his stance instead as a live threat if inflation refuses to cool.

Timiraos summed up the shift by saying Waller “comes across as quite troubled by recent inflation developments,” and reported that the governor believes markets are still underpricing the risk that higher energy prices will prove more persistent than investors expect.

What could Waller’s hawkish turn mean for Bitcoin and crypto?

Earlier this spring, Bitcoin rallied back above $70,000 as a Trump brokered two week ceasefire with Iran and hopes of policy easing sent risk assets surging, a pattern covered when Bitcoin (BTC) steadied while Iran briefly reopened the Strait of Hormuz even as oil markets stayed tight.

More recently, crypto traded in lockstep with Middle East headlines and Fed repricing, with crypto market outlook reports noting how every twist in US Iran tensions and Hormuz blockade threats fed directly into bets on inflation, energy and the path of rates.

If Waller’s shift from a dovish bias to a posture where hikes are explicitly “back on the table” convinces markets that the next move could be up rather than down, higher real yields and a stronger dollar would usually pressure both gold and crypto, just as bullion slid below $4,500 as traders raised the odds of another Fed move.

At the same time, persistent 3.8 percent headline inflation and 3.3 percent core PCE also reinforce the long running narrative of Bitcoin as an alternative hedge against US policy slippage, a theme that resurfaced when Bitcoin reclaimed $70,000 on ceasefire relief even as bond markets priced in a more volatile rate path.

The near term impact is likely to be higher volatility as macro desks reprice the Fed curve into year end and algorithmic flows lean against risk assets on any uptick in rate hike odds, a dynamic that has repeatedly amplified intraday swings across spot Bitcoin, leveraged crypto derivatives and related tokens whenever Fed officials pivot their tone.