GM. SpaceX moved $95 million in Bitcoin this week, its ninth major transfer of 2025, as the company consolidates wallets and prepares for a $1.5 trillion IPO.
Meanwhile, Kalshi wins court relief in Connecticut, Superstate enables onchain capital raises, and Binance’s Yi He recovers from a WeChat hack.
Here are the stories influencing crypto in the last 24 hours. 👇
Musk's SpaceX Transfers $95 Million in Bitcoin Ahead of IPO
SpaceX moved 1,021 BTC worth $94.5 million on Wednesday, marking its ninth major Bitcoin transfer of 2025, according to Arkham. Analysts said the transactions likely reflect ongoing wallet consolidation as the firm migrates older Bitcoin addresses to newer SegWit and Taproot formats.
The company has now relocated roughly 8,910 BTC, or $924 million, this year through Coinbase Prime, consolidating holdings across several institutional-grade wallets. Arkham data shows SpaceX currently holds about 3,991 BTC, though the figure may exclude recently reorganized assets still under the company’s control.
Tesla, which sold most of its Bitcoin during the 2022 market crash, retains 11,509 BTC valued at $1.24 billion. Musk confirmed both Tesla and SpaceX’s exposure to Bitcoin in 2021, noting that the holdings were part of a broader long-term crypto strategy.
The renewed onchain activity coincides with reports that SpaceX plans to go public in 2026, targeting a $1.5 trillion valuation. Bloomberg said the company aims to raise over $30 billion in what could become the largest IPO in history.
