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Crypto

SpaceX IPO frenzy draws crypto industry as tokens, perpetual futures and betting products proliferate

Crypto companies are competing to attract retail investors ahead of SpaceX\'s initial public offering, rolling out products ranging from prediction markets to tokenised assets and perpetual futures. The offerings allow trading on SpaceX price moves without a traditional brokerage account, though most do not provide direct share ownership, dividends, voting rights or claims on assets. Platforms such as Polymarket, Myriad, Kraken-linked services, Coinbase International, Hyperliquid and Backpack have launched related products, reviving investor-protection and regulatory concerns.

Industry

SpaceX record IPO nears as liquidity pressure concerns emerge

Demand for SpaceX\'s initial public offering is nearing four times the offering size, fueling analysis that it is tightening liquidity in cryptocurrencies and U.S. technology stocks. Reuters, cited by Cointelegraph, reported more than $250 billion of demand as the company seeks to raise $75 billion, implying a $1.8 trillion valuation if completed. Some analysts say funds may be rotating into IPO subscriptions, though they see the move as temporary.

Crypto

Morpho raises $175 million for on-chain lending protocol

On-chain lending protocol Morpho raised $175 million in a funding round co-led by Paradigm, a16z Crypto and Ribbit Capital, The Block reported. Apollo Fund, Circle Ventures, VanEck, Ledger Cathay, Wintermute Ventures, SBI Group and France\'s state investment bank also participated. The investment was structured as token purchases. Morpho said it offers a blockchain-based lending market where users can create lending pools by setting their own risk parameters.