The post Elon Musk’s $17 billion deal sends this stock soaring over 20% appeared on BitcoinEthereumNews.com. The shares of American satellite communications firm EchoStar (NASDAQ: SATS) are surging as investors react to its newly announced deal with Elon Musk’s SpaceX. Notably, EchoStar closed at $67.24 on Friday and rose to $80.94 in premarket trading, marking a gain of more than 20%. The rally extends a remarkable run for SATS, which has advanced over 260% in the past year and nearly 190% year to date. SATS one-day stock price chart. Source: Google Finance The momentum came after EchoStar confirmed it had entered into a License Purchase Agreement with SpaceX to sell its AWS-4 and H-block spectrum licenses for about $17 billion.  The transaction includes $8.5 billion in cash, up to $8.5 billion in SpaceX stock, and an additional $2 billion in cash to cover EchoStar’s debt interest through the end of 2027. The deal is expected to close by November 30, 2027. Alongside the spectrum purchase, the companies signed a long-term commercial agreement that will allow EchoStar’s Boost Mobile subscribers to use Starlink’s Direct-to-Cell service. Starlink’s expansion plan  For SpaceX, the acquisition strengthens Starlink’s expansion plans by securing key wireless frequencies that can support satellite-based direct-to-cell connectivity. The move also helps ease U.S. regulatory concerns while positioning Starlink to compete more directly with terrestrial carriers. “We’re so pleased to be doing this transaction with EchoStar as it will advance our mission to end mobile dead zones around the world,” said Gwynne Shotwell, president & COO, SpaceX. Additionally, the deal follows EchoStar’s $23 billion agreement with AT&T in August to sell more spectrum licenses, including nationwide low- and mid-band holdings.  Together, the transactions highlight EchoStar’s strategy to monetize spectrum assets while managing financial pressures tied to 5G deployment deadlines and debt obligations. Featured image via Shutterstock Source: https://finbold.com/elon-musks-17-billion-deal-sends-this-stock-soaring-over-20/The post Elon Musk’s $17 billion deal sends this stock soaring over 20% appeared on BitcoinEthereumNews.com. The shares of American satellite communications firm EchoStar (NASDAQ: SATS) are surging as investors react to its newly announced deal with Elon Musk’s SpaceX. Notably, EchoStar closed at $67.24 on Friday and rose to $80.94 in premarket trading, marking a gain of more than 20%. The rally extends a remarkable run for SATS, which has advanced over 260% in the past year and nearly 190% year to date. SATS one-day stock price chart. Source: Google Finance The momentum came after EchoStar confirmed it had entered into a License Purchase Agreement with SpaceX to sell its AWS-4 and H-block spectrum licenses for about $17 billion.  The transaction includes $8.5 billion in cash, up to $8.5 billion in SpaceX stock, and an additional $2 billion in cash to cover EchoStar’s debt interest through the end of 2027. The deal is expected to close by November 30, 2027. Alongside the spectrum purchase, the companies signed a long-term commercial agreement that will allow EchoStar’s Boost Mobile subscribers to use Starlink’s Direct-to-Cell service. Starlink’s expansion plan  For SpaceX, the acquisition strengthens Starlink’s expansion plans by securing key wireless frequencies that can support satellite-based direct-to-cell connectivity. The move also helps ease U.S. regulatory concerns while positioning Starlink to compete more directly with terrestrial carriers. “We’re so pleased to be doing this transaction with EchoStar as it will advance our mission to end mobile dead zones around the world,” said Gwynne Shotwell, president & COO, SpaceX. Additionally, the deal follows EchoStar’s $23 billion agreement with AT&T in August to sell more spectrum licenses, including nationwide low- and mid-band holdings.  Together, the transactions highlight EchoStar’s strategy to monetize spectrum assets while managing financial pressures tied to 5G deployment deadlines and debt obligations. Featured image via Shutterstock Source: https://finbold.com/elon-musks-17-billion-deal-sends-this-stock-soaring-over-20/

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more