AI Crypto Coins Drop With SpaceX IPO, OpenAI Delay Fears

AI crypto coins are down this week, with Worldcoin, NEAR, and Venice all sliding for four straight sessions. SpaceX’s record $2.77 trillion IPO two weeks ago is the trigger.

Shares in SpaceX closed at $153 on Thursday, off from a peak above $225 last week, and more than $600 billion in market value has been erased from the post-IPO peak. OpenAI is now leaning toward delaying its own listing to 2027, per Forbes. Bitcoin is back below $60,000, and Asian AI stocks fell hard in the same window.

SpaceX, in Numbers

SpaceX priced its June 12 IPO at $135 a share, raising more than $85 billion at a $2.77 trillion valuation. The debut made Elon Musk briefly the world’s first trillionaire, per OpenAI weighs a 2027 IPO delay. Two weeks later, the same stock is trading below where it closed on debut day.

Shares fell 16.4% on Monday June 22, the biggest one-day drop since the listing, and slid further in the next session. By Thursday June 25 the stock had closed at $153, erasing more than $600 billion in market value from its post-IPO peak, per SpaceX shares erased $600 billion in value. The shares briefly touched $149 in early trading on Tuesday, below the $150 mark where the stock had first traded.

The reversal has played out faster than most of the largest IPOs of the past five years, where the S&P 500 would have been a better trade about three-quarters of the time, per a Reuters analysis cited by Al Jazeera.

OpenAI Pushes Its Listing to 2027

OpenAI is now leaning toward delaying its IPO from later this year to 2027, three people involved in the talks told the New York Times, with Forbes confirming the same direction. The shift means the listing is now waiting for a friendlier window than 2026, with advisers offering the choice of waiting until 2027 for a $1 trillion debut or accepting a lower valuation for a faster one, per the Forbes report.

CEO Sam Altman is pushing bankers and lawyers to engineer that $1 trillion valuation and called any cut to it a “nonstarter,” one person in contact with him told the Times. OpenAI’s most recent private valuation stands at $852 billion, per Forbes. The company has already filed confidential S-1 paperwork with the SEC, though it has not committed to a timeline. The shift is also reshaping the pre-IPO product push, with OpenAI turning ChatGPT into a super app before the listing and competing with Anthropic for enterprise lock-in contracts as the IPO window narrows.

The financial case for waiting has its own weight. Leaked 2025 figures obtained by the Financial Times and blogger Ed Zitron show OpenAI earned $13.07 billion in revenue against a $20.92 billion loss from operations, per OpenAI’s leaked 2025 financials. The company is projected to spend $600 billion on compute and hardware through 2030, with the loss-to-revenue ratio improving to $1.60 from $2.37 the year before.

AI Tokens Bleed With It

Worldcoin dropped from $0.65 on June 21 to $0.50 on June 25, per Kraken’s price history. NEAR Protocol traded at $1.80, down 16.9% over the past week, per Coinlore. Venice Token slid from a recent high above $21.30 to around $17.13, a 16.84% one-day drop, per Invezz via TradingView.

Bitcoin fell 3.2% on the same Wednesday, per Bitcoin fell below $60,000 on Wednesday. AI-linked tokens sold harder than the coins they sit beside.

The mechanism is direct. Tokens like Worldcoin and NEAR have traded as proxies for AI sentiment, with the rotation into them tied to the same AI-infrastructure trade that drove the SpaceX and OpenAI IPO narratives. When the trade unwinds, the tokens sell off first because they are the most volatile expression of the thesis. That is what is happening this week.

With OpenAI now leaning toward a 2027 IPO, the WLD selloff this week is the most direct read on how an AI token responds to a single AI-company headline. Investors who bought the token on the AI-IPO narrative are now selling the news.

• WLD: $0.50 on June 25, down from $0.65 on June 21
• NEAR: $1.80, down 16.9% in 7 days
• VVV: $17.13, down 16.84% in 24 hours
• SPCX: off from above $225 last week

The Fed and the AI Trade

The pressure on AI tokens is part of a broader move out of crypto and into US tech. Bitcoin fell back below $60,000 on Wednesday June 24 for the second time this month, hitting $59,023 at the low, per CNBC. The same session saw gold and oil fall below key levels, with the Nasdaq up 0.8% the same day, per CoinDesk.

I don’t know what to think about Bitcoin anymore. Investors now have a wider range of opportunities to choose from than in previous years, and companies such as SpaceX and emerging AI firms offer growth stories that are easier to evaluate over long time horizons, while the rise of stablecoins has reduced bitcoin’s uniqueness as an alternative financial asset.

Billionaire hedge fund manager Philippe Laffont, on CNBC, June 23, 2026.

The macro backdrop is adding to the pressure. US consumer prices rose 4.2% year over year in May, the largest gain since April 2023, per the Bureau of Labor Statistics. Reuters reported the print raised expectations of tighter monetary policy under new Fed Chair Kevin Warsh, who is expected to maintain or raise rates. Bitcoin spot ETFs have shed more than $4.4 billion over 13 trading days, per CoinDesk, with WalletPilot tracking nearly $5 billion in outflows over 30 days. The capital is rotating out of crypto and into AI stocks, the same rotation that lifted tokens earlier this year now running in reverse.

Asia’s AI Stocks Catch the Same Chill

Asian AI names felt the same chill this week. South Korea’s Kospi closed down 10% on Tuesday June 23, with SK Hynix and Samsung Electronics both sliding more than 12%, per Bloomberg. SoftBank dropped 6% in an earlier session, per CNBC. The falls tracked the same AI-spending concerns that have dragged US chip stocks.

Micron was down 9% the same week, per Al Jazeera. The Korean and Japanese drops show the selloff is global.

AI infrastructure has been the most crowded trade of 2026, with money rotating from crypto into SpaceX, OpenAI, SK Hynix, and Nvidia at various points. That same rotation is now unwinding in reverse. The SpaceX IPO was the trigger, but the broader AI trade is what is breaking.

Frequently Asked Questions

Why are AI crypto coins falling this week?

Worldcoin, NEAR, and Venice have all dropped this week as SpaceX shares slid from a peak above $225 to $153. AI-linked tokens are the most volatile expression of the AI-infrastructure trade, so they sell off hardest when that trade unwinds. Bitcoin’s drop below $60,000 and rising rate expectations are pulling the same capital out of crypto.

Will OpenAI delay its IPO?

Forbes and the New York Times report OpenAI is leaning toward waiting until 2027, with CEO Sam Altman calling any cut to the $1 trillion valuation a “nonstarter.” The company has already filed a confidential S-1, but has not committed to a date.

What happened to the SpaceX stock after its IPO?

SpaceX priced at $135 on June 12 at a $2.77 trillion valuation. By June 25, shares had closed at $153, erasing more than $600 billion from the post-IPO peak. The shares briefly fell to $149, below the $150 mark where the stock first traded.

Is Bitcoin in a bear market?

Bitcoin fell below $60,000 on June 24 for the second time this month, per CNBC, hitting its lowest level since October 2024. CoinDesk cited investor rotation into AI stocks as a key reason for the slump.

What should crypto investors watch next?

Three data points will set the next move: the next US CPI print, any SpaceX price recovery back above the $135 offer, and whether OpenAI formally confirms a 2027 listing. The AI trade’s direction will follow the same path as AI tokens from there.

Disclaimer: The information in this article is for general informational purposes only and does not constitute financial or investment advice. Crypto assets are volatile and can lose value quickly. Consult a qualified professional before making investment decisions. Figures cited are accurate as of publication, June 27, 2026.