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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/21/2026

Elon Musk Endorses Tesla–SpaceX Merger; Stablecoin Transfers Surge

What happened: Elon Musk publicly supported the idea of merging Tesla and SpaceX, highlighting the rapid growth of SpaceX's AI division, which became its largest revenue segment in Q3 with a ninefold

Elon Musk Endorses Tesla–SpaceX Merger; Stablecoin Transfers Surge

What happened: Elon Musk publicly supported the idea of merging Tesla and SpaceX, highlighting the rapid growth of SpaceX's AI division, which became its largest revenue segment in Q3 with a ninefold increase. Meanwhile, stablecoin transfers hit $891 billion in Q3 2026, with $400 million or more moving per hour. Seven of the ten largest U.S. banks have now tested stablecoins, and the total stablecoin market cap stands at $301.4 billion. Bitget announced the acquisition of Thailand's GMO-Z.com Cryptonomics, following a recent $388 million hack.

Why it matters: Musk's comments, while not an official merger announcement, signal growing convergence between AI, aerospace, and automotive sectors. The surge in stablecoin activity and institutional testing underscores the asset class's increasing role in global payments and banking infrastructure, even as regulatory scrutiny remains high. Bitget's acquisition move, despite recent security setbacks, reflects ongoing consolidation in crypto exchanges.

Source: Cointelegraph