Coinbase Launches SpaceX Pre-IPO Perpetual Futures for Eligible Users Outside the U.S.
Coinbase launched pre-IPO perpetual futures, starting with SpaceX for eligible users outside the U.S. The exchange said the contracts trade 24/7, are settled in USDC and have no expiry, giving users a way to trade exposure to a private company before it goes public.
Chief Executive Officer Brian Armstrong said the product is designed to give users exposure to private companies before listing and help with price discovery. Coinbase said positions will automatically transition to a regular perpetual contract if an IPO happens, with no action required.
From the sources (8 posts)
@cryptohayesThe SpaceX IPO is going to melt people’s faces off. Holding the $WLD through the listing next week.
@calilyliuThis always happens before a generational IPO. All risk, big and small, gets sold into dry powder to get allocation in SpaceX (in this instance).
@coinbasePre-IPO perps are coming to Coinbase. Starting today with SpaceX - now live for eligible users outside the US. 24/7 trading. USDC-settled. No expiry.
@coinbaseWhen the IPO happens, positions automatically transition to a regular perp. No action required. Find out more ↓
@cointelegraph⚡️ JUST IN: Coinbase is launching pre-IPO perpetual futures, starting with SpaceX.
@brian_armstrongPre-IPO perps are great to get exposure to private companies before they go public (outside the U.S. only for now) and to help with price discovery. Now on Coinbase with SpaceX as our first listing.
@brian_armstrongMarket here:
@coinbaseRT @brian_armstrong: Pre-IPO perps are great to get exposure to private companies before they go public (outside the U.S. only for now) and…