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SpaceX incurs nearly $5 billion in losses in 2025 but still holds 8,285 BTC

2 hours ago

April 12 — Per CoinDesk, which cited Arkham data and a report released Friday night by *The Information*, SpaceX currently holds 8,285 bitcoins in its Coinbase Prime custody account, worth approximately $603 million, while the company reported a nearly $5 billion loss in 2025. The 2025 loss marks a stark contrast to the prior year: SpaceX posted roughly $8 billion in profit in 2024, with estimated revenue of $15 billion to $16 billion. Though 2025 revenue rose to $18.5 billion, integration costs from xAI—Elon Musk’s AI firm merged into SpaceX in February this year—outpaced revenue growth. Despite the massive loss, SpaceX’s bitcoin holdings have remained unchanged. CoinDesk’s analysis of transfer records shows the latest significant movement was about four months ago, involving only a rebalancing of 614 and 1,021 bitcoins between internal SpaceX wallets. Holdings have been stable since mid-2024, previously topping $1.6 billion during bitcoin’s all-time high in October 2025. SpaceX is now the fourth-largest known corporate holder of bitcoin globally, trailing Strategy, Marathon Digital, and Riot Platforms. The company has filed for an IPO, and its bitcoin holdings will be disclosed publicly for the first time—potentially subject to fair value accounting under new FASB guidelines taking effect by the end of 2025.
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Iran Not in Rush to Resume Nuclear Talks with US

Iran’s Tasnim News Agency reported on local time April 12 that Tehran is not rushing to negotiate with the U.S., citing informed sources. Iran has put forward reasonable proposals in the talks, and now “the ball is in the U.S.’s court” — Washington should take a pragmatic approach to the issue, the agency said. The source also noted the U.S. government “is making the same mistakes in negotiation decisions as it did in war decisions,” adding Iran is not eager for a quick deal. As long as the U.S. rejects a reasonable agreement, the situation in the Strait of Hormuz will remain unchanged. The timing and location of the next round of talks have yet to be determined. (Source: CCTV International News)

16 minutes ago

Ether Machine Terminates $1.6 Billion SPAC Deal Due to Unfavorable Market Conditions

April 12 — Ethereum treasury firm The Ether Machine announced Friday its $1.6 billion SPAC merger with Dynamix Corporation (ticker: DYNX) has been terminated due to unfavorable market conditions, per CoinDesk. The deal, first disclosed in July 2025, aimed to take The Ether Machine public on Nasdaq under the ticker ETHM. The firm positions itself as an Ethereum treasury and revenue vehicle, generating returns via staking and DeFi strategies while holding substantial Ethereum reserves. CoinGecko data shows it currently holds 496,712 ETH, valued at over $1.1 billion. The transaction drew attention for its scale: it included a $1.5 billion full-pipe financing (the largest common stock financing of its kind since 2021) and an additional ~$170 million in Dynamix’s trust account. Post-merger, the combined entity was expected to hold over 400,000 ETH, with a portion contributed by co-founder Andrew Keys. In a joint termination statement, the two companies noted the split was by mutual

16 minutes ago

Genius: In Season 1, 70 million GENIUS tokens were distributed via airdrop, and choosing to claim immediately will result in a 70% token burn.

April 12 — Genius, the perpetual DEX trading terminal backed by YZi Labs, has unveiled details of its Season 1 airdrop, which will distribute 70 million GENIUS tokens total. Users have two claim options: - Claim immediately within a 7-day window: Incur a 70% automatic burn penalty, receiving just 30% of your allocation (the remaining 70% is permanently burned). - Take no action: Your token allocation locks in a smart contract for 12 months, after which you can claim 100% of your share. Genius says the mechanism is designed to attract community members aligned with long-term incentives and discourage short-term speculative activity.

16 minutes ago

In the past 1 hour, the entire network has seen $90.75 million in liquidations, with the majority coming from a long squeeze.

Per Coinglass data, as of April 12, total liquidations across the entire crypto network reached $90.75 million over the past hour—including $85 million in long positions and $5.75 million in short positions.

16 minutes ago

Opinion: While US-Iran Negotiations Have Not Collapsed, They Have Not Broken Through Either; Diplomatic Efforts Are Ongoing

April 12 (Al Jazeera/Xinhua) — The U.S. and Iran have not yet reached an agreement despite efforts from all sides, with a draft deal on the table. Vice President Vance noted the talks still hold some possibility, describing the draft as their “final and best option.” A source said the good news is negotiations haven’t collapsed, but there’s no breakthrough. The two sides have held roughly five rounds of talks, exchanging written views after each round—suggesting a broader framework is in place. There is currently a proposal and counterproposal. Attention should focus on Iran’s response: a source stated the U.S. has made maximalist demands, particularly over the Strait of Hormuz, and Iran is unwilling to compromise on the issue.

16 minutes ago

The time, location, and agenda for the next round of talks between the U.S. and Iran have not yet been announced

April 12 (Xinhua) — Iran’s Tasnim News Agency reported Wednesday that the time, location and agenda of the next round of Iran-U.S. negotiations have yet to be announced.

16 minutes ago

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