# This Week in Crypto: SpaceX goes public > SpaceX completes the largest IPO in history, Strategy resumes Bitcoin buying, lawmakers debate the CLARITY Act, and StarkWare and Sui launch new privacy News · 4 min read Published 12 June 2026 This week in crypto, markets found themselves reacting to a historic event outside the digital asset industry. Elon Musk's SpaceX debuted on public markets in the largest stock market listing ever, attracting enormous investor demand and sparking discussion about whether capital was being pulled from both technology and crypto markets to fund the offering. At the same time, institutional Bitcoin accumulation resumed, regulatory efforts in Washington faced growing pressure, and blockchain developers continued working on privacy solutions designed to satisfy both users and regulators. The biggest story of the week was SpaceX's highly anticipated public debut. The company priced its IPO at US$135 per share, valuing the aerospace giant at approximately US$1.77 trillion and making it the largest stock market debut in history. Investor demand proved extraordinary, with reports indicating the offering was nearly four times oversubscribed and attracted more than US$250 billion in orders. The timing of the IPO coincided with heightened volatility across global markets. US technology stocks experienced significant weakness during the week, while the cryptocurrency market shed more than US$180 billion in value. Some analysts suggested that part of the selling pressure across risk assets may have been driven by investors raising cash to participate in the SpaceX offering. While it is difficult to determine the exact impact, the event highlights how major capital market opportunities can influence liquidity across both traditional and digital asset markets. Institutional [Bitcoin](/buy/btc/) adoption remained firmly in focus as Michael Saylor's Strategy resumed purchasing Bitcoin after last week's widely discussed sale. The company acquired an additional 1,550 BTC for approximately US$101.3 million, increasing its total holdings to 845,256 Bitcoin. The purchase was funded through Strategy's ongoing at-the-market stock offering program, which generated US$181 million in net proceeds during the first week of June. The move reinforces the company's long-term conviction in Bitcoin despite recent market volatility and demonstrates that corporate treasury accumulation remains a powerful theme in the current cycle. Following concerns raised by last week's sale, the latest purchase may also reassure investors that Strategy remains committed to its Bitcoin-focused strategy. On the regulatory front, attention shifted back to Washington as more than 200 cryptocurrency companies and industry organisations urged the US Senate to advance the CLARITY Act. The proposed legislation aims to establish a comprehensive framework for regulating digital assets and defining the responsibilities of key regulatory agencies. Industry participants are becoming increasingly concerned that delays could cause lawmakers to miss a narrowing legislative window ahead of the November midterm elections. Recent negotiations have focused on several contentious areas, including whether stablecoin providers should be permitted to offer yield products and how open-source developers should be treated under the law. Supporters argue that preserving protections for developers and blockchain infrastructure providers is essential for innovation. [Solana](/buy/sol/) Institute CEO Kristin Smith publicly called on lawmakers to ensure these protections remain intact, warning that software developers should not be regulated in the same manner as financial intermediaries. The growing uncertainty has led some analysts to reduce expectations that the bill will pass this year. Galaxy Digital recently lowered its estimated probability of passage, citing concerns that the legislation must move through the Senate before the August congressional recess if it is to have a realistic chance of becoming law in 2026. In the Web3 sector, privacy technology took a significant step forward as both StarkWare and [Sui](/buy/sui/) introduced new features designed to balance user confidentiality with regulatory requirements. StarkWare launched STRK20, a privacy framework for ERC-20 tokens on [Starknet](/buy/strk/) that enables users to shield balances and transaction details while still allowing authorised disclosure when required. The framework uses a risk-based approach that screens transactions entering private pools and supports viewing-key mechanisms that can be used for lawful compliance requests. Meanwhile, Sui launched a public beta version of confidential transfers, allowing users to hide transaction amounts while maintaining auditability for authorised parties. These developments reflect a growing trend across the blockchain industry toward privacy solutions that seek to satisfy both user expectations and regulatory obligations. The challenge of balancing privacy and compliance has become increasingly important as governments and regulators demand greater transparency while users continue to value financial privacy. Projects capable of successfully addressing both priorities may play an important role in the next phase of blockchain adoption. As the week comes to a close, markets remain focused on the intersection of traditional finance and digital assets. SpaceX's historic IPO demonstrated how major capital events can influence broader market liquidity, while continued institutional Bitcoin accumulation highlights enduring confidence in crypto's long-term prospects. With regulatory discussions intensifying in the United States and privacy-focused innovation continuing across leading blockchain networks, the foundations for the next stage of industry growth are steadily being built. **More news stories circulating the block:** - Mastercard launches Agent Pay network - Anthropic releases Fable 5 model - HTX drops USD1 stablecoin - OpenAI files for US IPO About the editorial team The Digital Surge Editorial Team Our editorial team writes and reviews Digital Surge’s news, insights and crypto guides, pairing plain-English explanations with the practical experience of running an [Australian cryptocurrency exchange](/about-us/). We keep every article accurate, current and easy to act on. [Read our editorial guidelines ›](/editorial-guidelines/) News & Insights ## More from News [News This Week in Crypto: ASIC extends digital asset licensing relief ASIC extends digital asset licensing relief, Strategy faces funding pressure, US lawmakers question AI investing, and Base resumes after an outage. 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