π JPMorgan loosens rules for SpaceX IPO access
JPMorgan Chase, the largest US bank, is easing its old rules on lending against worker stock due to tech sector wealth. This change was made ahead of SpaceX's June IPO, allowing loans against Elon Musk's venture's equity sooner than usual. The bank earned $75 million in fees from the SpaceX debut, with similar flexibility expected for Anthropic. This move lets wealthy tech employees get liquidity without triggering large capital gains taxes. JPMorgan states its formal policies remain, while evaluating each transaction individually.