SpaceX just had the biggest IPO in history; now the real grind begins.
Six days after pricing the largest IPO ever, SpaceX (NASDAQ: SPCX) announced a $60 billion acquisition. Right after that, bankers started prepping a bond issuance worth $20 billion. Subsequently, the stock dropped 9% in a single session.
That's a lot of info to digest in a week. Many are saying "the IPO hype is cooling off". But that take misses the mark. SpaceX isn't getting sold off because its story has flopped. It's adjusting its price because the market is finally trying to figure out how much capital, dilution, and execution will be needed for the story to keep rolling. That's a tougher question than "Is SpaceX a solid company?", and it still doesn’t have an easy answer.
The global payment agreement of $2.75 billion shows that stablecoins are weaving into the systems they were meant to bypass.
Nuvei is set to acquire Payoneer for $2.75 billion, thereby integrating stablecoin transactions into a broader payment platform.
02The resulting company from the merger anticipates an annual payment volume exceeding $500 billion across 190 countries and territories.
03The specific volume of stablecoins wasn’t disclosed, and the deal still requires approval from shareholders and regulatory bodies before closing in mid-2027.
From reinsurance to structured credit: the financial products you didn't know Bitcoin was boosting.
Quick summary
01Bitcoin now backs insurance reserves, rated bonds, loans, and corporate financing beyond ETFs.
02These structures are crucial because they allow institutions to use Bitcoin as collateral, reserve capital, and a balance sheet asset that generates yields.
03The liquidation cascade in February showed that the model works, but sharp price drops can trigger forced sells among leveraged Bitcoin lenders.
UK mutual funds might soon get the green light to hold crypto ETNs, but with a cap of 10%.
The FCA is consulting on the possibility of allowing UK UCITS and most NURS to hold crypto ETNs up to 10%. This would let authorized retail funds gain exposure to cryptocurrencies while keeping direct holdings of Bitcoin and Ether out of the mix. The relevance of this rule hinges on fund managers, as transparency, liquidity, and suitability could deter its uptake.
Wall Street is scooping up XRP while Binance traders are still betting against it.
The influx of capital into spot ETFs and the expansion of Ripple's institutional credit are clashing with the short positions in the futures markets on major exchanges.
The volatility of XRP and Solana in 2025 was twice as erratic as that of Bitcoin.
The realized volatility over the last 365 days reached 87% for Solana and 80% for XRP, compared to the calmer 43% of BTC, according to data tracked by CoinDesk Indices.
Payment-focused cryptocurrency XRP$2.0183 has taken a hard hit this week, falling over 6% to 2 dollars, a level that has become a crucial line for the token linked to Ripple.
The conclusion is that if the support at 2 dollars gives way, disappointed holders may run for the exits, which would trigger a prolonged price drop.
Why Wall Street is 'out of sync' with the real economy
The S&P 500 is near historic highs, but with rising unemployment and cracks in the economy, Wall Street and Main Street are living in different realities.
Financial markets continue to rise, but a deeper look paints a much riskier picture for the coming months. Many investors are now warning that Wall Street is ignoring the growing cracks in the labor market and the real economy of the U.S., a disconnection that has already caused serious problems in the past.
Tether and Adecoagro join forces in a Bitcoin mining initiative with renewable energy.
Adecoagro stated:
This project allows us to stabilize a portion of the energy that we currently sell in the spot market, fixing the price and, at the same time, exposing ourselves to the bullish potential of bitcoin.
The CEO of Ripple, Brad Garlinghouse, anticipates that XRP will capture 14% of the SWIFT market in five years. But I believe and estimate that it will be in 3 years or less. #xrp