GameStop Reports Record Profit and $2B Buyback; SpaceX Targets $1.75T IPO Valuation

On Dec. 11, GameStop ($GME) reported its highest-ever quarterly net income of $389.6 million alongside a $2 billion share repurchase program extending through 2029. Simultaneously, Reuters reported that SpaceX is targeting a $1.75 trillion valuation for an upcoming IPO scheduled for next week, aiming to raise at least $75 billion. In the digital asset sector, Grayscale's Hyperliquid Staking ETF ($HYPG) is set to begin trading tomorrow with industry-low fees. Regulatory developments include the SEC prioritizing digital assets in its roadmap through 2030 and the U.S. Treasury sanctioning four Iranian crypto exchanges. Furthermore, Citi projected the tokenized asset market could reach $8.2 trillion by 2030, highlighting Chainlink's CCIP. Other major updates include the CLARITY Act's advancement in the U.S. Senate and a new executive order from President Trump focused on AI innovation and security.