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This Week In Crypto
21 May 2026

Trump orders Fed to review crypto access to Fed accounts

SpaceX disclosed BTC holdings in its IPO filing, while Iran-linked media reported the launch of Hormuz Safe, a bitcoin-settled marine insurance platform. We also cover Trump’s order urging the Fed to review crypto firms’ access to U.S. payment rails.
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SpaceX held 18,712 BTC by EOY 2025
SpaceX disclosed in a public filing that it held 18,712 BTC at the end of 2025, with the position now worth more than $1.45 billion at current prices. The company originally acquired the bitcoin at an average cost basis of about $35,000 per coin, making SpaceX one of the world’s largest corporate bitcoin holders ahead of Coinbase.The filing also suggests on-chain forensics may have underestimated SpaceX’s bitcoin holdings and overstated how much the company had sold over the years, as wallet trackers previously estimated balances as low as 6,095 BTC. Meanwhile, Tesla, which bought 43,053 BTC in 2021, now holds an estimated 9,686 BTC after sales of 10% of its BTC holdings in 2021 and a further 75% of its holdings in 2022, according to K33 data, implying the company has reduced its bitcoin position by roughly 33,367 BTC from peak levels.
Bitcoin-settled digital Iranian insurance
Iran-linked media reported the launch of Hormuz Safe, a digital insurance platform offering bitcoin-settled marine coverage for cargo shipments traveling
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