SpaceX · Elon Musk · Cointelegraph
Major crypto exchanges cancel SpaceX IPO allocations, promising refunds
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Elon Musk’s SpaceX completed its landmark IPO on the Nasdaq on Friday, but crypto users seeking tokenized exposure to the IPO were left empty-handed after allocations fell through.
Key facts
- SpaceX shares opened for trading at $150 on Friday, up from its IPO price of $135
- Binance's SpaceX tokenized IPO campaign, which attracted over $557 million in USDC deposits, said it was unable to proceed to the campaign due to “circumstances outside of their control
- SpaceX’s IPO, which was reportedly more than four times oversubscribed, raised $75 billion as it became a publicly traded company
- Crypto trading platforms Bybit, Binance, Bitget Wallet and MEXC canceled their tokenized SpaceX IPO campaigns as SpaceX went public on the Nasdaq on Friday
Summary
Crypto trading platforms Bybit, Binance, Bitget Wallet and MEXC canceled their tokenized SpaceX IPO campaigns as SpaceX went public on the Nasdaq on Friday. SpaceX’s IPO, which was reportedly more than four times oversubscribed, raised $75 billion as it became a publicly traded company. However, major crypto platforms offering tokenized access to the IPO were unable to fulfill demand for SpaceX allocations, with several blaming Kraken-owned xStocks’ inability to deliver the underlying assets. The failed campaigns marked a setback for crypto platforms seeking to give their users high-demand public offerings for the first time.