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The SpaceX IPO just priced at $135/share, raising $75B at a $1.75T valuation. The largest IPO in history, by a long way. Demand topped $250B, more than 4x oversubscribed. Retail got 30% (~$22.5B) through major US brokerages. That is 3x the usual slice. SPCX debuts on Nasdaq June 12. Under new Nasdaq rules, it can enter the Nasdaq-100 in just 15 trading days, triggering an estimated $7B in forced passive buying. The numbers behind the hype are worth a closer look. SpaceX posted a net loss of $4.94B in 2025 on $18.67B in revenue. Starlink carries the whole business: $11.4B in revenue and the only segment turning a GAAP profit. xAI, merged in at $80B, is still burning billions. And Musk controls 79% of voting power on 42% of equity. Crypto has been ahead of this one. OKX launched SPCX pre-market perpetual futures back on May 7. The broader tokenized stocks sector is now at $5.5B market cap, up 147% in six months. Senator Warren asked the SEC to delay and cited passive fund systemic risk. The SEC has not acted. The line between TradFi and crypto keeps getting thinner. Were you already trading SPCX on crypto before the Nasdaq listing? And how are you positioning around the debut? #SPCXPricingDay $SPCX