SpaceX retained its entire reported bitcoin position through the second quarter, keeping 18,700 BTC on its balance sheet, according to BitcoinTreasuries.NET. The reported holding places the aerospace and satellite company among the largest known corporate bitcoin holders, even as bitcoin and other major cryptocurrencies traded in a narrow range over the past day.
Bitcoin rose 0.64% over 24 hours, while ethereum gained 0.29%, according to the market figures provided. Solana added 0.37%, XRP slipped 0.56%, and BNB rose 1.73%. The restrained moves contrast with the large swings seen in smaller tokens and tokenized-equity products, where short-term activity remained concentrated in more speculative markets.
SpaceX has not publicly detailed a bitcoin trading strategy alongside the reported second-quarter figure. Its retained position nevertheless adds to the small group of major private companies whose crypto exposure is watched as an indication of whether corporate treasuries are treating bitcoin as a long-duration reserve asset rather than a trading position.
Large-cap crypto trading remains subdued
The market’s largest tokens mostly moved within about one percentage point over the 24-hour period. Cardano fell 0.10%, dogecoin declined 0.33%, and TRON lost 0.74%. Zcash was among the stronger actively traded tokens, rising 5.47%, while Aave dropped 3.01%.
The calmer performance among large-cap assets came alongside sharp gains in selected lower-liquidity instruments. BICO rose 22.27% and xSOXL gained 18.57% on a venue’s daily leaderboard. TRA climbed 13.88% and PUMP added 13.65%, followed by gains in xPLTR, xMRVL, xTRE, xASTS, xSNDK and xUSAR.
Tokenized equity tickers also posted larger moves than the core crypto market. AAOX.M rose 39.68%, while PLTR.M gained 27.67%, according to the supplied market data. MVLL.M, COHX.M, SNXX.M and VOYG.M each recorded gains above 20%. Such products can be more volatile than widely traded cryptocurrencies because liquidity, issuer structure and access rules vary substantially across platforms and jurisdictions.
On-chain meme-token activity remained active as well. GMGN listed tokens known as “币有,” CATE and MarsCoin among its trending assets. Dune data showed Flap generated 5,593 token issuances on Aug. 3, compared with 3,749 for Pons, placing Flap ahead on Robinhood Launchpad activity for that day. Flap had previously overtaken Pons for a single day on July 17 before falling behind again.
Senators seek scrutiny of Trump-linked meme coin
Regulatory attention is increasingly directed at speculative crypto products with political or real-world event links. Democratic senators Elizabeth Warren of Massachusetts and Richard Blumenthal of Connecticut asked Securities and Exchange Commission Chair Paul Atkins to investigate a Trump-related meme coin for possible securities-law violations.
In their letter, Warren and Blumenthal cited reporting that nearly 1 million crypto wallets had recorded combined losses of about $3.81 billion since the token’s January 2025 launch. The senators asked whether the launch and promotion involved fraudulent arrangements or breaches of federal securities laws, and referenced allegations concerning a possible “rug pull.”
The request does not establish that violations occurred, but it puts pressure on the SEC to state whether it views the token’s distribution, promotion and associated arrangements as falling within its enforcement remit. Political meme coins have raised difficult questions for regulators because their value often depends heavily on branding, public attention and perceived proximity to political figures rather than identifiable business operations.
A separate group of Democratic senators, led by Oregon senator Jeff Merkley, urged Commodity Futures Trading Commission Chair Michael Selig to ban event contracts linked to California wildfires. Their letter cited roughly $1.2 million in trading during the January 2025 Los Angeles wildfires, including $711,600 on a market predicting when the Palisades Fire would be fully contained.
Merkley’s letter said the largest single wager in that market was about $274,800. The senators argued that disaster-linked markets create incentives that are incompatible with public safety, particularly where a person might profit from an event’s severity or duration.
Coldcard warns users of active threat
Hardware-wallet provider Coldcard issued an emergency notice warning of an ongoing attack threat and advised users to move funds, update firmware according to their device model, and generate a new seed phrase before transferring assets.
The notice is a reminder that offline storage reduces certain online risks but does not eliminate threats involving compromised devices, malicious firmware, phishing, supply-chain issues or unsafe backup practices. Users facing a credible device compromise typically need to create a new wallet recovery phrase in a trusted environment; moving funds while retaining a potentially exposed seed phrase can leave assets vulnerable.
The warning arrived as custody practices returned to public debate following comments from former Binance executive Changpeng Zhao. Zhao reposted commentary on bitcoin-loss data and said that, if the data was accurate, regulated custodians could be statistically safer than self-custody because thefts and lost keys involving self-managed wallets often go unreported. The comparison depends heavily on the quality of incident reporting and on the security standards of any custodian.
Bankman-fried conviction remains intact
A federal appeals panel in New York upheld the fraud and conspiracy convictions of FTX founder Sam Bankman-Fried, leaving his 25-year prison sentence in place. The U.S. Court of Appeals for the Second Circuit described Bankman-Fried as the “driving force” behind a scheme that diverted billions of dollars from FTX customers and others.
The ruling preserves one of the cryptocurrency sector’s most consequential criminal judgments and closes off one major avenue of appeal for Bankman-Fried. His case remains a reference point for the distinction between a platform’s customer assets and corporate funds, particularly as more crypto firms seek to offer brokerage, custody and tokenized securities services.
Dinari and Circle target tokenized stock trading
Dinari said it is working with Circle to offer tokenized stock trading for U.S. users and plans to bring all S&P 500 constituents on-chain. The company’s dShares are designed to correspond to underlying equities held with regulated custody, while USDC would be used for trading and settlement.
Dinari said it supports more than 6,000 tokenized assets and is live in 85 jurisdictions. Its model aims to connect stablecoin-based settlement with equities trading, potentially allowing transfers between supported platforms and reducing the time needed to settle transactions. The practical reach of the service will depend on licensing, securities rules and the availability of the underlying shares in each market.
The push comes as tokenization firms seek to apply blockchain settlement to conventional assets rather than relying solely on crypto-native demand. The attraction is less about replacing stock-market rules than about fitting assets governed by those rules into systems that can operate continuously and settle more quickly.
Curious about tokenized stocks after SpaceX’s Bitcoin move? Explore our guide on tokenized equities reshaping traditional markets.
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