SpaceX Prices Record-Breaking IPO at $135 Per Share, Trading Begins Friday
SpaceX set its initial public offering price at $135 per share on Thursday night, planning to sell 555.6 million shares to raise $75 billion and valuing the company at $1.77 trillion. This offering surpasses Saudi Aramco’s $30 billion IPO in 2019, making it the largest public offering in history. The stock is slated to begin trading on the Nasdaq on Friday under the ticker symbol SPCX.
The company’s structure is essentially three distinct businesses integrated under a single ticker.
In total, SpaceX generated approximately $18.7 billion in revenue in 2025 but reported a net loss of $4.9 billion, largely due to the substantial spending by xAI impacting Starlink’s profitability. Consequently, the satellite internet division is currently subsidizing the company’s higher-growth ventures in rockets and artificial intelligence. However, these investments, particularly in rocketry, may require several years to yield returns.
From a cryptocurrency perspective, SpaceX holds 18,712 Bitcoin, valued at just under $1.2 billion. As trading commences on Friday, Backpack Securities and Sunrise are set to launch a tokenized version of SPCX on the Solana blockchain. This token will be redeemable one-to-one for actual shares and will be tradable around the clock. Additionally, Hyperliquid has been facilitating pre-IPO trading for SPCX, serving as a primary venue for price discovery. The token was trading at $177 on Hyperliquid, a figure that will be tested against the market’s opening valuation on Friday.
Coinbase Unveils Tool for AI Agents to Execute Trades and Payments
Coinbase has introduced Coinbase for Agents, a new product designed to grant AI agents direct access to user Coinbase accounts. This allows agents to execute trades, manage portfolios, and facilitate payments for services, all within user-defined parameters. The system operates on x402, Coinbase’s proprietary payment protocol engineered for machine-to-machine transactions.
Coinbase has indicated that support for stocks, index funds, prediction markets, and commodities will be added in the future.
The broader trend suggests that the agentic economy is rapidly transitioning from a conceptual stage to functional infrastructure, with cryptocurrency quietly emerging as its underlying network. Within the past week, major players including Coinbase, Mastercard, and MetaMask have all rolled out functionalities enabling AI agents to hold and transfer funds, with each leveraging crypto rails for these operations.
Mastercard’s Agent Pay integrates stablecoins alongside traditional card payments, MetaMask has launched a wallet specifically for agents, and Coinbase is defaulting to USDC and x402 for agent transactions. The prevailing strategy appears to be establishing these platforms as the primary financial conduits for machines, with network operators poised to benefit from transaction fees. For Coinbase, this strategy involves driving activity onto its Base blockchain and promoting USDC as the preferred currency for AI agents.
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