The incident in which a SpaceX rocket broke up after launch demonstrates the challenges the FAA will face as the number of commercial space flights increases.

The Federal Aviation Administration is requiring Elon Musk's SpaceX and Jeff Bezos' Blue Origin to investigate what went wrong on their respective

The rocket company’s effort to demonstrate payload deployment, land its upper stage and potentially achieve spaceship-to-spaceship fuel transfer this year had an inauspicious start when the Starship system suffered a setback during the Jan. 16 flight. Minutes after launch, the Block 2 upper stage broke up when a fire developed in the aft section.

Donald Trump's newly-created cryptocurrency soared on Monday to nearly $12 billion in market value, drawing in billions in trading volume, while bitcoin hit a record high just hours ahead of the U.S. President-elect's return to the White House.

After exploding, the craft sent blazing debris across the sky and forced multiple aircraft flying over and near the Caribbean to divert.

SpaceX CEO Elon Musk made light of Starship's fiery end. "Success is uncertain, but entertainment is guaranteed!" he said on X.

SpaceX for the third time scrubbed plans to launch 27 more Starlink internet satellites into low-Earth orbit from Vandenberg Space Force Base in California with an earlier one postponed because of a Delta jet nearby.

WASHINGTON (Reuters) - The U.S. Federal Aviation Administration said on Friday it will oversee an investigation by Elon Musk's SpaceX into an explosive Starship test flight the previous day that forced airlines to divert dozens of flights to avoid debris.

"During the event, the FAA activated a Debris Response Area and briefly slowed aircraft outside the area where space vehicle debris was falling or stopped aircraft at their departure location."

No injuries have been reported from falling debris after SpaceX's Starship exploded in the sky over the Bahamas. However, the FAA has halted further test flights while it investigates.

The FAA grounded SpaceX’s Starship pending an investigation into the failure that caused the rocket to break apart midflight after launching on Thursday.