Intuitive Machines Purchases Lanteris Amidst Crypto Industry’s Struggles with Penalties and Security Breaches

Lantern Ventures, a crypto trading company co-founded by a former Alameda executive, is reportedly shutting down its funds

, a firm specializing in space technology, has announced its intention to purchase Lanteris—a company focused on satellite manufacturing and services—for $800 million. The deal is described as a pivotal move toward establishing a comprehensive space prime business. The transaction, anticipated to finalize in the near future, will merge Lanteris’ satellite production strengths with Intuitive Machines’ expertise in in-space logistics and nuclear energy. Together, the combined company is expected to surpass $850 million in yearly revenue and maintain a $920 million order backlog, signaling a strategic effort to lead the expanding commercial space industry.

Financial disclosures from Intuitive Machines’ third-quarter 2025 report show the company closed the quarter with $622 million in cash, supported by a $345 million convertible note issued in August. CEO Brian Altemus highlighted that Lanteris’ high-margin satellite services business will enhance Intuitive Machines’ manufacturing capabilities. “Our services division operates at higher margins,” Altemus noted during a recent call with investors. “Lanteris’ dependable production can supply our own network needs.” The company expects the acquisition to immediately boost revenue, adjusted EBITDA, and free cash flow.

The crypto sector is facing increased regulatory pressure after the Central Bank of Ireland imposed a €21.5 million fine on Coinbase Europe for failing to properly monitor 30 million transactions for potential money laundering. This record-breaking penalty for a crypto business in Ireland underscores the industry’s ongoing struggles to meet anti-money laundering (AML) requirements. Coinbase attributed the lapse to software errors in its monitoring system, which were corrected by April 2022. The event highlights the sector’s exposure to regulatory risks as authorities tighten oversight of digital assets.

Security issues have also emerged, with reports indicating that DWF Labs, a crypto market maker, may have suffered a $44 million loss in a 2022 hack attributed to North Korean cybercriminals. Blockchain analysis showed that attackers emptied a wallet linked to the firm and laundered the stolen assets through a mixer to hide their tracks. DWF Labs has not officially commented on the incident, but the breach raises further concerns about the safety of crypto liquidity providers. Experts observed that the attack resembled previous operations tied to North Korea, which often use advanced methods to avoid detection.

In other news, a large crypto investor has taken $140 million in leveraged short positions against and on Hyperliquid, anticipating further declines in the market. Using 20x leverage, the trader has already realized $3.1 million in profits as both cryptocurrencies experienced modest drops. This move comes amid a broader downturn, with institutional player Galaxy reducing its year-end 2025 Bitcoin price forecast from $185,000 to $120,000. The whale’s strategy reflects increasing bearishness in a market challenged by regulatory ambiguity and security threats.

Despite these headwinds, Intuitive Machines remains confident about the outlook for the merged company. The Seeking Alpha piece pointed to a $235.9 million backlog—including contracts for orbital transfer vehicles and in-space nuclear power—as a strong base for ongoing expansion. “The market potential we can tap into is very promising,” Altemus remarked. Still, the ultimate success of the acquisition will hinge on effectively integrating Lanteris’ operations, a process complicated by the industry’s unpredictable regulatory and security landscape.