Vida, the founder of the equation shorting SPCX, cut his losses and conceded defeat, losing approximately $60,000.

CoinFeed reported on June 16th that, according to on-chain analyst Ai Yi, Vida, founder of Equation, who shorted SPCX, cut his losses, incurring a loss of approximately $60,000. He stated that he still believes the company is extremely overvalued, but needs a better time window to execute the trade again. SPCX surged 10% in overnight trading, and its market capitalization has surpassed Amazon, reaching $2 trillion.