SpaceX IPO Shock to Crypto: Reuters reports SpaceX’s $75B IPO is 3x oversubscribed ahead of its Nasdaq debut, with investors potentially rotating cash from risk assets like Bitcoin as IPO demand ramps. Bitcoin Market Regime: Bitfinex Alpha says BTC has shifted from accumulation to distribution, with ETF outflows and macro pressure pushing selling into strength; CryptoQuant also flags potential support near $53,600 as demand weakens. Stablecoin/Tokenization Shift: Bitwise CIO Matt Hougan says advisors are talking stablecoins and tokenization more than Bitcoin, signaling a broader “digital dollars” focus. Regulation & Derivatives: Osaka Exchange plans Bitcoin futures by 2028 as Japan updates crypto investment rules; the CFTC unveiled its first U.S. prediction-market framework draft. Security & Crime: U.S. Treasury sanctions Iran’s Nobitex; South Korea data shows more drug suspects using virtual assets; and the FBI seized Chinese websites allegedly used to recruit U.S. officials, with crypto funding tied to the scheme. Retail Protection: Delaware and New Jersey advanced crypto ATM ban bills amid scam complaints, while a BBC case highlights device-draining malware after a small crypto ad payment. Tokenization in TradFi: DBS will launch tokenized physical gold via its digibank app, and Oracle won a major federal HR cloud contract—another reminder that institutions keep building rails around digital assets.