News

BlockBeats News, June 17th, according to CNBC's report, renowned investor Jim Cramer stated that the core driver behind SpaceX's continuous stock price surge is not its current profitability, but the market's bet on Musk's disruptive entrepreneurial ability. Cramer stated that after completing an IPO last week, SpaceX's market value quickly soared to around $2.5 trillion, surpassing Microsoft at one point and exceeding Amazon. Despite the company potentially remaining in a loss-making state for many years to come, investors are willing to give it a high valuation because of Musk's track record of building industry leaders. Cramer said, "This stock is called SpaceX, but it might as well be called Elon Musk. When you buy into SpaceX, you are actually buying Musk's brain." He pointed out that investors value not only Musk's proposed goal of achieving $1 trillion in annual revenue by 2030 but also long-term business layouts such as Starlink satellite internet, reusable rockets, data centers, and more. Meanwhile, SpaceX announced on Tuesday that it would acquire AI programming startup Cursor for $60 billion in stock, further expanding its presence in the artificial intelligence and software development field. Cramer believes that some investors are viewing SpaceX as akin to Warren Buffett's Berkshire Hathaway in Buffett's era, where holding a company is a bet on an entrepreneur capable of creating value for decades. He stated that although there are still doubts in the market regarding SpaceX's valuation, the cost for short-sellers has been quite high so far.

BlockBeats News, June 17, according to The New York Times, the crypto industry super PAC Fairshake and its affiliated organizations have invested approximately $12.1 million in the Republican Senate primary in Alabama to support pro-crypto Republican Representative Barry Moore. Data from ad monitoring agency AdImpact shows that TV ad spending alone reached $9.8 million. Barry Moore has backed several bills prioritized by the crypto industry and has publicly opposed central bank digital currencies (CBDC). He stated that he does not want the government to control citizens' financial activities. In campaign ads, Fairshake has focused on highlighting Trump's endorsement of Moore. As of May this year, Fairshake and its affiliated organizations held approximately $150 million in funds, making it one of the most influential political forces in the 2026 U.S. midterm elections. The organization plans to reserve most of its funds for the fall elections while continuing to support pro-crypto candidates in some "safe seat" primaries. Previously, Fairshake invested about $9 million supporting opponents in the Illinois Democratic Senate primary but failed to prevent Julianna Stratton from winning. In Alabama, Fairshake’s affiliated organization Defend American Jobs has now invested a total of about $10 million to support Barry Moore, while funding for his opponent, retired Navy SEAL Jared Hudson, is significantly smaller.

According to Onchain Lens monitoring, a newly created wallet received 20,000 ETH worth 35.86 million US dollars from FalconX. This wallet may belong to Bitmine.