Markets
Where the money is moving, and what it means for the choices in front of you.
8 stories
SpaceX trades on Solana from day one. Read what the token is.
When SpaceX hits Nasdaq today, a tokenized version goes live on Solana the same hour. The token is a Backpack custody claim with 24/7 trading and no SIPC.
The Editors · 9 min read
GENIUS Act stablecoins: holders rank fifth in issuer bankruptcy
The FDIC just confirmed: stablecoin holders get no pass-through coverage. The GENIUS Act promises first priority. In court, holders are fifth in line.
The Editors · 8 min read
SpaceX wants $1.75T. The S&P 500 just removed the easy bid.
S&P Dow Jones denied SpaceX fast-track index entry on June 5. About $14B of forced passive buying is gone. The IPO has to price on Starlink and xAI now.
The Editors · 8 min read
May jobs beat killed the 2026 rate-cut trade. Read the curve.
Nonfarm payrolls came in at 172K versus an 80K forecast. The 2-year ripped 11 basis points and hike odds jumped past 50%. Read the bond market.
The Editors · 8 min read
Why Strategy sold 32 Bitcoin: the math says it had to
Strategy sold 32 BTC for $2.5M to fund preferred dividends. The $1.712B annual bill against a $900M reserve made the move mechanical, not symbolic.
The Editors · 7 min read
Anthropic's $36B chip deal: read the Broadcom backstop
Apollo is raising $36 billion in private credit to buy Google TPUs for Anthropic. Broadcom is guaranteeing the resale value of its own chips.
The Editors · 9 min read
Citi's $5.5T tokenization forecast: read the assumptions
Citi forecasts a $5.5 trillion tokenized securities market by 2030. The number is plausible, but the rails it grows on are mostly closed to retail crypto.
The Editors · 8 min read
Read the bond market first
Equities get the attention. The bigger signal usually shows up in rates.
The Editors · 3 min read