Trump and Jim Cramer Defend SpaceX as Musk Wants to Enter the Telecom Market

Dextape brief

By Dextape Desk · November 2, 2026

Donald Trump and CNBC host Jim Cramer both spoke up for SpaceX on Monday, following reports that the Elon Musk-led company is negotiating to acquire Boost Mobile, a US wireless carrier with roughly 7 million subscribers. SpaceX is discussing with EchoStar either a purchase of Boost or a lease of its network, as Musk aims to offer nationwide phone service that combines Starlink satellites with ground towers. Earlier, he reportedly sought network access from AT&T, Verizon and T-Mobile, and those carriers reportedly declined. Boost leases its network from AT&T and T-Mobile, and those agreements may not transfer to a new owner. No agreement has been struck yet. SpaceX shares were near $137 on Monday, just above the $135 IPO price, while a December lockup expiration looms.

Why it matters: It shows how a major satellite operator could expand into phone service, and it affects shareholders and crypto platforms that offer tokenized SpaceX shares.

Summary by Dextape, based on reporting by BeInCrypto. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.