2026-06-12
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President Trump has a new nominee for intelligence director that could help defuse a fight with Congress.
Plus, Trump calls off threatened attacks on Iran, sending markets soaring.
And Citigroup is using the blockchain to make it easier for wealthy clients to trade shares of private companies.
The pitch that Citigroup is making is this structure is regulated, and so investors know what they're buying.
It's Thursday, June 11. I'm Alex Ocelev for the Wall Street Journal.
This is the PM edition of What's News, the top headlines and business stories that move the world today.
SpaceX this afternoon disclosed that it has sold the more than 555 million
shares in its IPO at $135 apiece, giving it a valuation around $1.77 trillion.
And investors have lined up.
The journal has learned that the asset manager BlackRock
has put in an order to buy at least $5 billion worth of SpaceX shares.
Other big investment firms have also submitted eye-popping orders.
These companies often buy large stakes in IPOs, but these orders are much bigger than normal.
The journal understands that individual investors alone requested over $70 billion worth of SpaceX shares.