Mukesh Rajak 12

SpaceX was founded in 2002 by Elon Musk with a bold goal: make spaceflight cheaper, more reliable, and eventually help humans reach Mars. The company started from a small warehouse in El Segundo, California, and grew into one of the world’s most important space companies by focusing on reusable rockets, vertical integration, and fast engineering cycles.
2001–2004: The Idea Becomes a Company
Before SpaceX existed, Musk explored a project called Mars Oasis, which aimed to send a small greenhouse to Mars. After failed attempts to buy affordable rockets from Russia, Musk decided that building rockets directly could be cheaper. In 2002, SpaceX was created. Early employees included key engineers and operators from major aerospace firms, and the company’s mission was clear: reduce launch costs and improve access to space.
2005–2009: Falcon 1 and the Fight for Survival
SpaceX’s first rocket was Falcon 1, a small two-stage orbital rocket funded mostly with private money. The first three launches failed between 2006 and 2008, pushing the company close to collapse. The breakthrough came on September 28, 2008, when Falcon 1 successfully reached orbit on its fourth attempt. Soon after, NASA awarded SpaceX a major Commercial Resupply Services contract, helping stabilize the company financially. Falcon 1 was later retired so SpaceX could focus on the larger Falcon 9.
2010–2012: Falcon 9, Dragon, and NASA Partnership
SpaceX launched Falcon 9 for the first time in 2010 and developed the Dragon spacecraft to carry cargo to the International Space Station. In 2012, Dragon became the first commercial spacecraft to deliver cargo to the ISS. This was a turning point: SpaceX was no longer just a risky startup — it had proven it could serve NASA and compete in the global launch market.
2013–2018: Reusability Changes the Market
SpaceX began winning commercial launch contracts and challenging established providers. The biggest breakthrough came in December 2015, when SpaceX landed a Falcon 9 first stage for the first time. In 2017, it reused a Falcon 9 booster for an orbital mission, proving that rocket reusability could work commercially. This helped SpaceX lower launch costs and become a leading global commercial launch provider.
2019–2022: Starlink, Starship, and Crewed Spaceflight
SpaceX expanded beyond rockets into satellite internet with Starlink, launching its first major batch of satellites in 2019. Starlink later became a major part of SpaceX’s business, providing broadband coverage through thousands of low-Earth-orbit satellites.
In May 2020, SpaceX made history by launching NASA astronauts Doug Hurley and Bob Behnken to the ISS aboard Crew Dragon Demo-2. This made SpaceX the first private company to send astronauts into orbit and restored crewed orbital launches from U.S. soil.
At the same time, SpaceX accelerated development of Starship, its next-generation fully reusable rocket designed for missions to the Moon, Mars, and beyond.
2023–2025: Starship Testing and Rapid Expansion
Starship flight tests began with mixed results: several early launches ended in explosions or vehicle loss, but each test provided data for improvement. By 2024, SpaceX achieved major Starship milestones, including reaching planned trajectories and performing advanced booster recovery tests. The company also continued expanding Starlink, including direct-to-cell ambitions and spectrum-related deals.
SpaceX’s valuation climbed sharply through funding rounds, reflecting investor interest in three major businesses: launch services, Starlink satellite internet, and Starship’s long-term space transportation potential. However, because SpaceX remained private, investors also faced risks from scams and limited access to official shares.
2026 and IPO Plans
According to the provided timeline, SpaceX moved toward a major public listing plan in 2026, with reports of a Nasdaq listing under the ticker SPCX and a potential IPO fundraising target of around $75 billion, implying a possible valuation of about $1.75 trillion. If completed, it could become one of the largest IPOs in history.

Bank of America's Global Research Department is forecasting that US headline CPI for May will accelerate to 4.2% year-over-year — the highest reading since April 2023 — driven primarily by a significant rise in energy prices that pushed the monthly increase to an estimated 0.46%. Core inflation, which strips out food and energy, is expected to show more moderate performance at 0.2% month-over-month and 2.8% annually.
The headline number: energy is doing the work
The gap between the headline and core forecasts is the most important element of Bank of America's call. A 0.46% monthly headline CPI driven by energy reflects the ongoing impact of oil prices above $90 per barrel — a direct consequence of the Strait of Hormuz closure that has kept more than 10 million barrels per day of Middle Eastern supply off global markets for over three months. This type of inflation is supply-shock driven rather than demand-driven — it reflects geopolitical disruption rather than an overheating domestic economy.
The year-over-year jump from April's 3.8% to a forecast 4.2% would represent the largest single-month acceleration in headline CPI of the current cycle and the highest annual reading since April 2023 — when the Fed was still in the middle of its aggressive tightening cycle that eventually took rates to their prior peak.
Core CPI: the Fed's preferred signal stays relatively contained
The more constructive element of Bank of America's forecast is the core CPI projection. A 0.2% monthly core increase — below April's 0.4% — and a 2.8% annual core reading would represent a deceleration from the prior month's trend. The Federal Reserve places significantly more weight on core inflation when assessing the underlying price trajectory, since energy prices can be volatile and transient in ways that don't necessarily require monetary policy responses.
If core CPI comes in at 0.2% monthly as Bank of America forecasts, it would provide at least a partial counterargument against the most hawkish rate hike scenarios — suggesting that while headline inflation is being pushed higher by energy, the underlying domestic inflation trend may not be reaccelerating to the same degree.
The key transmission: from CPI to core PCE
Bank of America explicitly flagged the May CPI data as critical for understanding its impact on core PCE — the Federal Reserve's officially preferred inflation measure — and the outlook for monetary policy. Core PCE and core CPI move together but are not identical, with core PCE typically running 20 to 40 basis points below core CPI due to different weighting methodologies. If core CPI comes in at 2.8%, core PCE would likely print somewhere around 2.4% to 2.6% — still above the Fed's 2% target but not dramatically so.
What it means for crypto
Wednesday's CPI release has been identified by multiple analysts including 10x Research's Markus Thielen as the single most important near-term catalyst for Bitcoin and crypto markets. The Bank of America forecast at 4.2% matches the Wall Street consensus and 10x Research's 4.3% model — meaning there is limited room for a positive surprise on the headline figure. The market is already bracing for a hot number.
The nuance that matters for crypto is whether the hot headline drives further institutional ETF redemptions or whether the more moderate core reading provides enough cover for the Federal Reserve to hold rates at the June 17 meeting without signaling imminent hikes. If the Fed's June 17 statement drops the rate-cut bias language — as New York Fed President John Williams suggested it should — but stops short of explicitly signaling a hike, markets may treat the outcome as less severe than feared, providing room for the Bitcoin technical recovery to continue.
A core CPI print at 0.2% monthly alongside a hot headline would be the most constructive possible combination for crypto — hot enough to validate the macro concerns already priced in, but not hot enough to force the Fed's hand toward near-term tightening beyond what markets have already priced.

Humanity Protocol has suffered one of the most damaging exploits of 2026, with attackers stealing and selling more than $36 million worth of H tokens across Ethereum and BNB Chain after compromising private keys through a hacked employee laptop. The attack minted 300 million unauthorized H tokens, drained BSC liquidity pools to just $13, and sent the on-chain H token price crashing 99.9% — while the centralized exchange perpetual contract price remained at $0.09, creating a 100-times price divergence that has effectively split H into two unrelated assets.
How the attack unfolded
According to Humanity Protocol's official incident update, the attack originated from a compromised employee laptop that leaked the multi-signature wallet keys controlling the Hyperlane Bridge ProxyAdmin. On Ethereum, the attacker obtained three of six Gnosis Safe owner private keys — enough to reach the signing threshold — transferred ownership of the ProxyAdmin contract to a wallet under their control, and upgraded the bridge contract to a malicious implementation. A single transaction then transferred approximately 141.2 million H tokens to the attacker's wallets.
On BNB Chain, the attacker obtained three of five Safe wallet owner keys through the same compromise vector, took over the ProxyAdmin in identical fashion, and deployed a malicious contract with unlimited minting capabilities — directly minting 200 million H tokens across two transactions.
The attack lasted approximately 13 hours, during which the attacker continued issuing and selling H tokens on BSC, squeezing liquidity from the pool until virtually nothing remained. Cumulatively, the attacker minted approximately 300 million H tokens and sold approximately 450 million — including previously circulating supply — cashing out roughly $34 million in ETH and BNB. On-chain liquidity in the H pool on BSC was reduced to approximately $13 at the time of reporting.
ZachXBT: two separate events, but pre-exploit price pump raises questions
On-chain investigator ZachXBT released an analysis concluding that the Humanity team is likely not behind a "rug pull" or "self-directed performance" — the private key leak disclosure appears genuine and the team does not appear to have orchestrated the theft. However, ZachXBT identified a separate and concerning pattern: before the exploit and before the upcoming token unlock scheduled for approximately June 25, the price of H tokens was artificially pumped through what appear to be suspicious market-making agreements and large over-the-counter transactions.
ZachXBT's assessment is that the private key compromise and the pre-exploit price pump are independent events — but the timing raises the question of whether the price inflation was designed to ease selling pressure ahead of the investor and early contributor token unlock, regardless of its connection to the hack itself. The investigation is ongoing.
Token price collapse: a tale of two markets
The on-chain destruction of H's liquidity has created an extraordinary market bifurcation. The H token price on BSC dropped 99.9% to approximately $0.0009 as liquidity was drained to near zero — essentially making on-chain H worthless in practical terms. Meanwhile, the perpetual contract price on centralized exchanges remained at approximately $0.09 — a 100-times premium over the on-chain spot price. H has effectively become two unrelated assets depending on where it is traded, with the on-chain version reflecting the catastrophic liquidity destruction and the CEX version reflecting delayed price discovery in a market that has not yet fully processed the exploit's implications.
Humanity Protocol's response
The project has suspended all deposit and withdrawal operations for affected bridging services and is working with exchanges and other relevant partners to mitigate further losses. Humanity Protocol stated it is cooperating closely with law enforcement to investigate the incident and attempt to recover stolen funds. An internal investigation is also underway.
A growing pattern of private key exploits
The Humanity Protocol hack continues a disturbing trend of private key compromises that has defined crypto security in 2026. The largest this year was the Drift Protocol exploit in April, where attackers affiliated with North Korea's Lazarus Group gained control of security council admin keys resulting in $280 million in losses. Other private key exploits this year include Step Finance, Resolv, Volo Vault, Echo Bridge, Bankr, Polymarket, StablR, Stake DAO, Gravity Bridge, and Aelphium Bridge. CertiK reported that wallet and private key compromises were the second most costly attack vector in May, with $13.7 million stolen in that month alone.
The Humanity Protocol incident underscores that multi-signature wallet structures — while more secure than single-key systems — remain vulnerable when the individual keyholders' devices are compromised at the endpoint level. Three compromised keys out of six or five is sufficient to reach signing thresholds in standard multi-sig configurations, making endpoint security of keyholder devices as critical as the smart contract architecture itself.

Bitcoin fell below $62,000 last week after a weekly decline of about 14%, according to Wintermute. According to NS3.AI, Wintermute said the disclosed sale of 32 BTC by Michael Saylor was negligible.

Wintermute attributed the main pressure to U.S. institutional position reductions and outflows from spot Bitcoin ETFs.

SpaceX’s initial public offering on Nasdaq has reportedly been heavily oversubscribed. According to Jin10, the company plans to close IPO subscriptions after the market closes on Wednesday.