Industry

SpaceX lock-up expiry could release 911.5 million shares ahead of first earnings

SpaceX will hold its first earnings announcement on Aug. 4, with the date coinciding with the first post-IPO lock-up expiry that could release up to 911.5 million shares. The company adopted a phased sale structure, allowing insiders to sell 20 percent of eligible locked-up stock after earnings. Additional shares could be released if the stock meets a price threshold. Short interest has risen as investors also watch launch schedules and cloud business expansion.

Crypto

BlackRock buys $81 million of bitcoin during slump, helping rebound

Bitcoin rebounded to around $64,300 after BlackRock shifted to large-scale buying, helping the price recover from a recent slump. U.Today reported that the decline intensified after Strategy disclosed a bitcoin sale worth about $216 million, sending bitcoin below the $62,641 intraday support level. Arkham data showed BlackRock absorbed selling via Coinbase Prime and spent more than $80 million buying in batches, while also adding 7,500 ether through its ETHA spot ETF.