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Spacecoin Sends Blockchain Data Through Space in First-of-Its-Kind Test to Challenge Starlink

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U.S. satellite startup Spacecoin announced on Wednesday that it had successfully transmitted secured blockchain data through space, marking what it called an industry first and a potential challenge to Elon Musk’s Starlink.

The company’s goal is to create a decentralized satellite network offering connectivity and data storage for users in regions where internet access is unreliable, censored, or prohibitively expensive, according to its founder Tae Oh.

HOW IT WORKS

Unlike Starlink — where SpaceX maintains full control over its vast satellite constellation — Spacecoin envisions an open, participatory model that allows users, developers, and organizations to contribute to the network and verify transactions.
Its technology uses blockchain encryption to ensure that data sent through satellites cannot be intercepted, altered, or falsified.

During the test, Spacecoin transmitted blockchain data over 7,000 kilometers, from Chile to the Azores, entirely through a satellite link — without relying on terrestrial internet.
The nanosatellite used in the experiment was built by Bulgarian microsatellite manufacturer EnduroSat, and the company said the data returned to Earth intact and verifiable.

“Beyond end users, we are also targeting builders — such as developers, telecom companies, NGOs, and infrastructure partners,” said founder Tae Oh.
“For people using the internet, this means the information or payments they send can’t be faked, changed, or intercepted by bad actors.”

CONTEXT AND FUTURE PLANS

The success of Spacecoin’s test comes amid a boom in satellite internet services as global demand for secure broadband increases.
While J.P. Morgan previously tested blockchain payments between satellites, Spacecoin’s test is the first to bypass terrestrial networks entirely, operating solely in orbit.

Currently, Spacecoin has just one satellite, launched in December 2024 on a SpaceX rocket, and orbits in Low Earth Orbit (LEO) at up to 2,000 km altitude.
The company plans to add three more satellites by the end of 2025 to expand coverage and reliability.

With Starlink’s 8,000-satellite fleet dominating global satellite broadband, Spacecoin’s blockchain-based approach positions it as an innovative but niche challenger, combining crypto technology with space-based communication infrastructure.

Musk denies $10B fundraising at xAI after CNBC report

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Elon Musk pushed back on Friday against a CNBC report that his AI startup xAI was raising $10 billion at a post-money valuation of $200 billion. “Fake news. xAI is not raising any capital right now,” Musk wrote on X, dismissing claims the firm was in talks with investors.

CNBC had reported that the funds would be used to build massive data centers with Nvidia and AMD GPUs and recruit top AI talent as xAI ramps up to compete with OpenAI’s ChatGPT and Anthropic’s Claude. The company operates the Colossus supercomputer cluster in Memphis, Tennessee, which Musk has described as the world’s largest.

Investor interest in AI firms remains strong despite questions over the sustainability of big tech spending. If true, the $200B valuation would have more than doubled xAI’s reported $75B valuation in July and placed it among the world’s most valuable private companies—behind OpenAI, ByteDance, and SpaceX, but ahead of Anthropic, which recently raised funds at a $183B valuation.

Musk’s denial comes amid conflicting signals. In June, Morgan Stanley reported that xAI had already raised $5B in debt financing alongside a $5B strategic equity investment to expand its infrastructure. While Musk insists no new round is underway, xAI continues to scale aggressively, seeking to establish itself as a rival to OpenAI, which may soon be valued at $500B in a planned stock sale.

FCC to End EchoStar 5G Probe After $40 Billion in Spectrum Deals with SpaceX and AT&T

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The U.S. Federal Communications Commission (FCC) will close its investigation into EchoStar’s 5G buildout obligations, following the company’s recent spectrum sales to SpaceX and AT&T worth a combined $40 billion.

FCC’s decision

  • FCC Chair Brendan Carr said in a letter to EchoStar Chair Charles Ergen that the agency would conclude EchoStar has met its 5G obligations.

  • Carr called the outcome a “potential game changer” for American consumers, freeing up spectrum and injecting new competition into the wireless market.

  • EchoStar’s Boost Mobile brand, which lost 2 million customers in recent years, had been seen as providing limited competitive pressure.

Spectrum sales

  • $17B deal with SpaceX: Enables Starlink Direct-to-Cell services with upgraded satellites.

  • $23B deal with AT&T: Provides AT&T with 50 MHz of nationwide mid- and low-band spectrum.

Background

  • EchoStar was under probe for slow 5G deployment and potential “warehousing” of spectrum.

  • SpaceX had previously pressed the FCC to review EchoStar’s holdings.

  • The FCC’s move confirms EchoStar’s exclusive rights to key spectrum blocks for ground and satellite use.

Political backdrop

  • In June, President Donald Trump encouraged EchoStar and the FCC to resolve disputes over its wireless spectrum licenses.

  • The transactions with SpaceX and AT&T still require final FCC approval.

Industry impact

Carr said the deals could reshape the wireless market:

“The status quo wasn’t working. We have a chance now to do something different … this is much more competitive.”