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BTC news: Elon Musk’s SpaceX moves bitcoin for the first time in six months

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BTC news: Elon Musk's SpaceX moves bitcoin for the first time in six months

SpaceX (SPCX) apparently moved bitcoin BTC$61,955.90 across its wallets early Wednesday for the first time in about six months in three transfers totaling less than $300 of its $1.16 billion holding that don’t signal any impending sales.

Data from Arkham Intelligence shows the largest transfer across addresses tagged as belonging to the company moved 0.00213 BTC, about $135, between two wallets. A second sent 0.00139 BTC, or about $89.

In the third, Coinbase Prime’s custody service topped up a SpaceX address with 0.000738 BTC, around $47, the kind of small amount an exchange sends to cover network fees before a larger transaction can go through.

SpaceX went public on June 12 in the largest IPO on record, and its filing put the company’s full bitcoin position on a public balance sheet for the first time. Small movements can draw attention after a share listing even though none of the coins reached an exchange deposit address and none left SpaceX’s control.

The company still holds 18,712 BTC. Transfers this size are usually routine maintenance: funding a wallet to pay fees, consolidating coins across addresses or testing a signing setup before moving a real balance.



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Bitcoin and ethereum prices today, Wednesday, July 8, 2026: Crypto prices down following U.S.-Iran strikes

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moneyvests
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Bitcoin and ethereum prices today, Wednesday, July 8, 2026: Crypto prices down following U.S.-Iran strikes


Bitcoin (BTC-USD) opened at $63,318.46 on Wednesday, July 8, 2026, down 1.1% from Tuesday’s open. The price of bitcoin was down to $62,044.96 as of 8:45 a.m. ET this morning.

Ethereum (ETH-USD) opened at $1,769.31 on Wednesday, July 8, 2026, down 1.6% compared to Tuesday’s opening price. Ethereum prices this morning shifted to $1,742.22 as of 8:45 a.m. ET.

Both bitcoin and ethereum prices are trending downward this morning following renewed hostilities in the Middle East.

The U.S. conducted airstrikes against Iranian targets in retaliation for Iran firing on non-military ships in the Strait of Hormuz. Talks between the two countries were already on pause as Iran observes a weeklong funeral for the late Supreme Leader Ali Khamenei, and now the airstrikes and the president’s recent comments put long-term peace into serious jeopardy.

Demand for risk-based assets like crypto tends to decline during uncertain geopolitical situations such as this. Analysts and investors will be monitoring whether this is a temporary or longer-lasting trend in crypto, even as it’s already trying to recover from one of its worst monthly performances in years.

Current price of bitcoin and ethereum

Bitcoin

The price of bitcoin this morning was 1.1% lower than the day before. Here’s a look at how the opening bitcoin price has changed versus last week, month, and year:

  • One week ago: +8.1%

  • One month ago: +0.1%

  • One year ago: -41.5%

The all-time high for bitcoin was $126,198.07 on Oct. 6, 2025. The all-time low value for bitcoin was $0.04865 on July 14, 2010. 

Ethereum

The price of ethereum this morning was down 1.6% compared to Tuesday morning. Here’s a look at how the opening ethereum price has changed versus last week, month, and year:

  • One week ago: +12.7%

  • One month ago: +4.9%

  • One year ago: -30.4%

The all-time high for ethereum was $4,953.73 on Aug. 24, 2025. The all-time low value for ethereum was $0.4209 on Oct. 21, 2015. 

Bitcoin, ethereum, and other cryptocurrencies are rapidly evolving. Follow the latest developments from Yahoo Finance and others here.

Crypto and taxes

You generally owe taxes when you sell cryptocurrency for more than you paid for it. This also applies when you exchange one digital asset for another. Converting bitcoin into ethereum, for example, isn’t “just a trade” in the eyes of the IRS. It’s a taxable event if the value changes.

Crypto taxes aren’t paid at the time of the transaction, but instead, they’re reported on your tax return for the year in which the transaction took place. So, if you sold crypto for a profit at any point during 2025, that activity is reported when you file your 2025 return in early 2026.

How much tax you pay depends on two main factors:

  1. How long you held the asset before selling

  2. Your overall taxable income and filing status

Hold it for less than a year, and you’ll usually face higher rates. Hold it longer, and the rates tend to be lower.

This holding-period distinction matters more than most people realize. A few days can make a difference of as much as 17% or more — so timing matters.

Learn more: Yes, crypto is taxed. Here’s when you have to pay.

Bitcoin and ethereum price charts

Whether you’re brand new to tracking the value of bitcoin and ethereum or a more seasoned crypto investor, Yahoo Finance’s price-of-bitcoin and price-of-ethereum charts below show a visual history of how the currencies’ value continues to move and evolve.

More on crypto from the Yahoo Finance team: 



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Velvet crypto slides 75% in a week – Why bulls aren’t giving up yet

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moneyvests
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Velvet crypto slides 75% in a week - Why bulls aren't giving up yet


Velvet [VELVET] has fallen 75% over the past week, with losses continuing as bearish pressure intensifies. At press time, the asset had dropped another 16% in the last 24 hours under the same selling pressure. 

The intriguing dynamic beneath the decline is that traders across both the spot and perpetual markets are holding buy-side positions, committing capital against the current tide for Velvet.

Velvet buckles under mounting sell pressure

Velvet is absorbing heavier selling pressure and bearish sentiment, a shift visible in the asset’s trading volume and the shrinking capital base across its perpetual market.

The Taker Buy Sell Ratio, which measures long trading volume against short trading volume in the perpetual market, has tilted toward the sell side as the reading slips to 0.95 as of writing.

Velvet long to short ratio.
Source: CoinGlass

A ratio below 1 signals that sellers are dominating volume across multiple accounts. The sell volume isn’t heavily exaggerated, though, since the figure sits only slightly beneath the 1 mark on the chart. That selling has coincided with a contracting capital base for Velvet in the perpetual market, as investors withdraw funds over concerns about high volatility.

CoinGlass data showed that Open interest, which tracks capital movement in the perpetual market, plunged from $29.36 million to $21.07 million, a 28% decline across the period.

Traders hold net long through the sell-off

The compelling part of this picture is that trader positioning remains net long despite the rising sell volume and the capital contraction. The Funding Rate, which reflects whether market positioning favors buyers through long trades or sellers through short trades, printed a reading of 0.0050%.

A positive reading, as in this case and only mildly so, indicates that traders are still positioned net long ahead of an upward move ahead.

Velvet funding rate chart. Velvet funding rate chart.
Source: CoinGlass

However, over a longer horizon, they have reason for conviction in an upswing, as Velvet has surged 59% over the past thirty days and climbed 533% across a quarter, nearly ten times the monthly figure.

The short-term conviction stays questionable, though, since longs have lost more than shorts, with the past 24 hours as the reference.

Total liquidations reached $558,320 over that stretch, and long liquidations constituted the majority at $490,520, an outcome that has made shorting Velvet more profitable than going long.

Spot buyers accumulate through the decline

Spot investors keep reinforcing the broader market narrative as their buying activity climbs.

At the time of analysis, total purchases from spot investors reached $1.58 million this week alone. Nearly half of that has arrived in the past 48 hours, with $781,000 worth of Velvet in netflow backing the buy side.

When netflow confirms stronger net buying in the spot market, it often suggests investors view the recent decline as a discount and an opportunity to accumulate. A continuation of this buying trend would hand Velvet a solid base for a rebound in the near term.

Final Summary

  • Velvet has dropped 75% over the past week and another 16% in a day, with traders pulling money out of the market as selling picks up.
  • Spot buyers have put $1.58 million into Velvet this week, betting the lower price is a chance to buy in before a possible recovery.



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Citadel abandons multi-year crypto lawsuit to focus on bankruptcy order against an ex-employee

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moneyvests
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Citadel abandons multi-year crypto lawsuit to focus on bankruptcy order against an ex-employee

Citadel abandoned its U.S. trade secrets lawsuit against crypto market maker Portofino Technologies, saying it no longer made financial sense to pursue another court victory while struggling to collect a nearly 6 million-pound ($8 million) judgment it already won.

In a filing made on Wednesday in the U.S., Miami-based Citadel jointly agreed with Portofino to dismiss the New York trade secrets case. Also on Wednesday, Citadel asked England’s High Court to declare Portofino founder Leonard Lancia bankrupt over the unpaid arbitration award. The moves underscore that the dispute has shifted from proving liability to collecting money.

Under the U.S. stipulation, each side will bear its own legal fees and costs, and Citadel also dismissed claims against unnamed Doe defendants.

Portofino Technologies is a Swiss crypto-native financial technology firm that provides institutional trading infrastructure for digital asset markets. Founded in 2021 by former Citadel Securities executives, the company specializes in market making, over-the-counter (OTC) trading and treasury management services for exchanges, token issuers, institutional investors and Web3 projects.

A spokesperson for Citadel Securities said “Mr. Lancia repeatedly lied to his colleagues at Citadel Securities and to Portofino’s investors, and we intend to enforce the UK court’s substantial judgment.”



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Abacus Tokenizes Life Insurance Assets as $224B Market Moves Onchain

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moneyvests
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Abacus Tokenizes Life Insurance Assets as $224B Market Moves Onchain


Abacus Tokenizes Life Insurance Assets as $224B Market Moves Onchain

Abacus Global Management (NYSE: $ABX) is moving part of the secondary life insurance market onchain, using blockchain infrastructure to track ownership, liens and cash-flow rights across its portfolio.

The company said more than 100 in-force policies have already been tokenized, with its full balance sheet portfolio expected to move onchain by the end of 2026. Future policy originations are also set to enter the same structure.

Abacus is targeting an asset class estimated at $224 billion in the secondary market, where policy transfers still require buyers to review ownership records, beneficiary assignments, servicing histories, and other documents before a transaction can close.

More From Cryptoprowl:

The new system is designed to create an immutable record of each policy’s chain of title, liens and cash-flow rights while keeping supporting documents offchain. Abacus expects the structure to reduce repeated diligence and shorten parts of the transaction process from weeks to days.

Smart contracts could also be used to support premium servicing, policy tracking, cash-flow distributions and investor reporting. The company said the infrastructure may eventually widen access for qualified international institutions and family offices looking for exposure to life insurance assets.

CEO Jay Jackson called tokenization a “natural extension” of the operating platform Abacus has built over the past two decades. He said the goal is to give institutional investors the speed and confidence they already expect from other modern asset classes.

The project is being developed inside Abacus’ existing investment platform. Blockchain partners, target asset volumes and additional milestones have not yet been disclosed.

Tokenization has so far been dominated by Treasuries, funds and private credit. Abacus is taking the model into a less familiar corner of finance, where the value proposition is less about creating a new asset and more about making an existing one easier to verify, service and transfer.

Abacus Global Management Inc. (NYSE: ABX) is currently trading at $11.80 U.S. per share.



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Google Paid Him $986,000 in a Single Year — But He Still Left

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moneyvests
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Google Paid Him $986,000 in a Single Year — But He Still Left


Key Takeaways

  • Yousuf Imran, 41, earned $986,000 this year working as an account executive at Google.
  • He still left the company because he was drawn to the “life-changing money” that AI startups offered.
  • Imran left Google in April to launch his own AI sales tools startup.

For Yousuf Imran, the grass was greener outside of Google. 

The 41-year-old Google account executive earned $986,000 in 2026, mainly from sales commissions that layered on top of a $170,000 base salary. Despite making nearly $1 million at Google, he was drawn to the “life-changing money” that AI startups were offering their employees. 

“Google pays very well, but the equity packages at OpenAI and Anthropic are in a different universe,” Imran, a resident of the San Francisco Bay Area, said in a recent interview with Business Insider. 

He was also disillusioned with Google because the tech giant laid off some of his coworkers over the past few years — and he wondered if he would be next. Since early 2023, Google has eliminated tens of thousands of jobs globally after rapid pandemic hiring.

So, in April, Imran took the plunge and quit Google to launch an AI sales tools startup. 

His move away from Google highlights how the tech giant has lost some of its edge in the AI boom, per Business Insider. Google’s generous compensation packages and perks drew a fair share of interest over the years. According to employer branding firm Universum, Google was the most appealing employer for business students for over a decade, from 2009 to 2022, before losing the top spot to Apple.  

AI startups are coming for Google’s crown

Now Google is losing ground to AI companies. Business Insider interviewed 12 current and former Google employees and found that the AI boom has opened the door to more opportunities elsewhere. For example, Bloomberg reported last month that two AI researchers, Jonas Adler and Alexander Pritzel, are planning to leave Google for Anthropic. The two previously worked on Google’s Gemini AI, with Adler working on Gemini’s coding push and Pritzel honing the process of training AI systems. 

Google offers competitive compensation. The median Google employee made $331,894 in 2024, a 5% increase from 2023, according to federal filings. However, AI startups offer greater financial opportunities. Former Google workers want the excitement and sky-high earning potential associated with joining a rapidly growing AI company or creating one of their own, per Business Insider. 

Google offers generous perks — but it is scaling back

Google has long symbolized the gold standard for Silicon Valley perks, pairing high salaries with lavish benefits that blurred the line between office and life. Employees still enjoy free or subsidized meals, comprehensive health coverage, generous parental leave and strong retirement programs. 

In recent years, however, Google has systematically pared back its more extravagant offerings to save money and operate more efficiently. For example, in 2023, the company eliminated some of its snack bars and food options, per a leaked staff memo viewed by The Wall Street Journal. According to the same memo, it also shut down some cafeterias on days with relatively few people in the office. CNBC further reported that Google also ended its free massage services for workers that year. 

A Google spokesperson told Business Insider last month that the company is confident that it can still attract and retain top talent. 

Key Takeaways

  • Yousuf Imran, 41, earned $986,000 this year working as an account executive at Google.
  • He still left the company because he was drawn to the “life-changing money” that AI startups offered.
  • Imran left Google in April to launch his own AI sales tools startup.

For Yousuf Imran, the grass was greener outside of Google. 

The 41-year-old Google account executive earned $986,000 in 2026, mainly from sales commissions that layered on top of a $170,000 base salary. Despite making nearly $1 million at Google, he was drawn to the “life-changing money” that AI startups were offering their employees. 

“Google pays very well, but the equity packages at OpenAI and Anthropic are in a different universe,” Imran, a resident of the San Francisco Bay Area, said in a recent interview with Business Insider. 



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Adam Back’s BSTR and Cantor to revise SPAC merger structure

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moneyvests
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Adam Back's BSTR and Cantor to revise SPAC merger structure

Adam Back’s Bitcoin Standard Treasury Company (BSTR), the bitcoin treasury company backed by the Blockstream CEO and bitcoin pioneer, is renegotiating the terms of its planned public listing through a merger with Cantor Equity Partners I (CEPO), with the parties abandoning the original structure agreed last year in an effort to better reflect current market conditions.

The companies said Wednesday they will not complete the transaction under the terms of the July 2025 business combination agreement. Instead, they are discussing a revised structure, with further details expected in future filings with the U.S. Securities and Exchange Commission.

As part of the changes, the previously announced private placement financing tied to the merger will no longer be required to close. CEPO also indefinitely postponed its shareholder meeting, which had been scheduled for July 10. Any redemption requests submitted by CEPO shareholders will be cancelled and shares returned, with no action required from investors.

The announcement follows a series of delays. In June, CEPO postponed its shareholder meeting to allow additional time and extend the redemption deadline. The meeting was subsequently pushed back to July 10 before being postponed indefinitely.



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