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The US Securities and Exchange Commission has settled fraud allegations against Adit Ventures Management and its founder Eric Munson over pre-IPO share sales. The firm allegedly misled investors about holdings in companies including SpaceX and Klarna.
SpaceX reported a US$541 million net loss for its IPO quarter despite nearly doubling revenue to US$7.8 billion, driven largely by its Starlink satellite internet service. The company went public in June at a record US$75 billion valuation.
SpaceX achieved its 13th Starship test flight from Texas on July 25, overcoming weather delays and technical issues. The mission deployed Starlink V3 satellites and tested upper-stage reentry procedures.