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BCH $424.76 -2.99%
LINK $10.02 -5.48%
HYPE $44.50 +1.39%
AAVE $92.67 -7.10%
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musk

SpaceX is expected to publicly file its prospectus next week, aiming to raise over $70 billion

According to CNBC, SpaceX plans to publicly release its IPO prospectus as early as next week, aiming to start a global roadshow on June 8 to formally introduce the deal to investors. The company secretly submitted its IPO application in April this year. This IPO is expected to become the largest in history. In February this year, SpaceX completed a merger with Elon Musk's artificial intelligence company xAI, resulting in a post-merger entity valuation of $1.25 trillion. Reports indicate that the company's target fundraising scale for the IPO is about $70 billion to $75 billion, more than double the record set by Saudi Aramco in 2019. The expected valuation for the SpaceX IPO has risen from $1.75 trillion to $2 trillion. According to regulations, the prospectus must be made public at least 15 calendar days before the roadshow begins, but SpaceX and its advisors hope to disclose it earlier to give investors more time to digest the financial data. Due to the unprecedented scale of this stock sale, SpaceX's advisory team is seeking special sales channels, particularly targeting retail investors outside the U.S. who prefer long-term holdings, including engaging with brokers in countries such as the UK, Japan, and Canada to secure allocation shares for their clients. As a result of this news, satellite and space concept stocks like Redwire, AST SpaceMobile, and Rocket Lab surged by 22.08%, 10.96%, and 6.77% respectively on the 14th.

Ruisui Bank: Musk's X Money may disrupt the U.S. payment market and impact PayPal

According to a report by The Block, Mizuho Bank research analysts released a report on Thursday stating that the financial feature X Money launched by Elon Musk's X platform has the potential to disrupt the U.S. payment industry, but the cryptocurrency integration plan may face regulatory obstacles.Mizuho analysts Dan Dolev and Andrew Jenkins wrote in a client report that X Money is positioned as the financial infrastructure layer of the X platform, aiming to integrate instant messaging, bank deposits, and commercial transaction functions, similar to the "super app" model of WeChat Pay or Alipay. With 500 to 600 million monthly active users on the X platform and Musk's background as a co-founder of PayPal in the payment industry, X Money has the potential to disrupt the U.S. payment industry.On the regulatory front, the analysts pointed out two major potential obstacles: first, the recent "CRYPTO Act" proposed in New York aims to criminalize unlicensed virtual currency operations in the state, which will raise the compliance threshold for X's future cryptocurrency integration plans; second, the "Clarity Act" may restrict non-bank financial platforms from offering yields to users, potentially hindering X Money's plan to provide users with an annualized yield of 6% on cash balances, with analysts stating that the timing for the launch of this yield product is "particularly sensitive."Mizuho also downgraded PayPal (PYPL) stock rating to "neutral," noting that PayPal and its Venmo app face the most direct substitution risk, as X is targeting the same peer-to-peer transfer and digital wallet entry points.This week, the X platform also launched a new feature called "Cashtags," allowing users to view financial data for stocks and cryptocurrencies directly in their timeline.
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