Intuitive Machines Acquires Lanteris as Crypto Sector Grapples with Fines and Hacks

Ex-Alameda Co-Founder's Crypto Trading Firm Lantern Ventures Said to Be Winding Down Funds

According to a Seeking Alpha report Intuitive Machines, a space technology company, has outlined plans to acquire Lanteris, a satellite manufacturing and services firm, for $800 million, positioning the move as a transformative step toward building an integrated space prime model. The acquisition, expected to close in the coming months, would combine Lanteris' satellite production capabilities with Intuitive Machines' in-space logistics and nuclear power expertise. The merged entity is projected to generate over $850 million in annual revenue and hold $920 million in backlog, reflecting a strategic push to dominate the growing commercial space sector.

Financial details from Intuitive Machines' Q3 2025 report reveal the company ended the quarter with $622 million in cash, bolstered by a $345 million convertible note offering in August. CEO Brian Altemus emphasized that Lanteris' services model—focused on high-margin satellite operations—complements Intuitive Machines' manufacturing strengths. "Our services model is a higher-margin business," Altemus stated during a recent investor call. "We can use Lanteris' production reliability to feed our own networks." The acquisition is expected to be "immediately accretive to revenue, adjusted EBITDA, and free cash flow," according to the company.

An Irish Times report The crypto industry's regulatory scrutiny deepened as the Central Bank of Ireland fined Coinbase Europe €21.5 million for failing to monitor 30 million transactions for money laundering risks. The penalty, the largest ever imposed on a crypto firm in Ireland, highlights ongoing challenges for the sector in complying with anti-money laundering (AML) rules. Coinbase attributed the oversight to coding errors in its transaction monitoring system, which were rectified by April 2022. The incident underscores the sector's vulnerability to regulatory penalties, particularly as governments intensify oversight of digital assets.

An Investor Empires report Security concerns also surfaced with reports that DWF Labs, a cryptocurrency market maker, may have lost $44 million in a 2022 hack linked to North Korean cyber actors. On-chain analysis revealed that hackers drained a wallet connected to the firm and routed the stolen funds through a mixer, obscuring the trail. DWF Labs has not publicly acknowledged the breach, but the incident adds to growing concerns about the security of crypto liquidity providers. Analysts noted the attack's similarities to previous DPRK-linked operations, which often involve sophisticated techniques to evade detection.

According to a Decrypt report Meanwhile, a crypto whale has opened $140 million in leveraged short positions against Bitcoin and XRP on Hyperliquid, betting on further market declines. The trader, using 20x leverage, has already gained $3.1 million as both assets dipped slightly. The move comes amid a broader bearish sentiment, with institutional firm Galaxy lowering its Bitcoin price target for year-end 2025 to $120,000 from $185,000. The whale's actions reflect growing pessimism in a market grappling with regulatory uncertainty and security vulnerabilities.

Despite these challenges, Intuitive Machines remains optimistic about the combined company's prospects. The Seeking Alpha article highlighted a $235.9 million backlog, including contracts for orbital transfer vehicles and in-space nuclear power, as a foundation for sustained growth. "The total addressable market we can unlock is exciting," Altemus said. However, the acquisition's success will depend on integrating Lanteris' operations smoothly, a task complicated by the sector's volatile regulatory and security environment.