Bybit, Binance, Bitget Cancel Tokenized SpaceX IPO Allocations After Share Shortage
Bybit and Bitget Wallet said users in their SpaceX IPO subscription offerings will receive full refunds after xStocks was unable to deliver the underlying shares, while Binance canceled its Binance Wallet SPCXX IPO campaign. Kraken’s growth team said the SpaceX allocation it received from underwriters came in below expectations and demand exceeded available supply, leaving the exchange to partially fulfill orders and refund unfilled portions.
The setback came after crypto venues had promoted multiple ways to trade SpaceX exposure around its Nasdaq debut. Backpack Securities earlier said its SPCX token on Solana is backed by a real SpaceX share and redeemable 1:1 into a brokerage account, while a separate SPCX pre-IPO perpetual on Hyperliquid had surpassed $200 million in open interest, underscoring demand even as some platforms struggled to secure enough stock for customer allocations.
From the sources (21 posts)
@kylesamanithis is huge 1:1 fungibility with the shares you already have in your existing brokerage account one giant step forward for DeFi
@mertRT @armaniferrante: To give you a concrete sense of what we're doing with @Backpack Securities. - Trade stocks on Backpack - Deposit/Withd…
@tolyRT @Backpack: $SPCX goes live on @Solana via @SunriseDeFi following SpaceX’s Nasdaq debut. Issued by Backpack Securities. On/off-ramp Spac…
@kylesamaniRT @vibhu: Tomorrow you'll be able to buy, sell, long, or short the biggest IPO of all time directly on @solana across multiple tokenized e…
@capitalmarketsSPCX issued by @Backpack Securities, goes live on Solana via @sunrisedefi the same day as SpaceX listing on Nasdaq. Redeemable 1:1 into brokerage account.
@arkhamSpaceX on Hyperliquid: What Happens at IPO? SPCX is set to become the largest IPO in history. But what happens to the SpaceX perpetual when it lists? Our research team breaks down how pre-IPO perps transition, price discovery, and RWAs on
@degeneratenewsNEW: $SPCX PRE-IPO PERP BY @tradexyz SURPASSES $200M OPEN INTEREST ON @HyperliquidX/ hyperliquid:native
@arkhamLARGEST SPACEX LONG EVER: $18 MILLION Trader 0x9cc dumped $16.6M USDC into Hyperliquid - all to leverage-long the SPCX launch over the past 48 hours. He’s holding $18.5M of SPCX with $10M USDC left on-chain. This is the largest SPCX long
@chooserichRT @okx: For the first time, crypto markets are pricing SpaceX before Nasdaq does & we’re watching it happen live. Join our $SPCX Watch Pa…
@tolyRT @solana_daily: 🚨 $SPCX is now live on @Solana via @SunriseDeFi following SpaceX’s Nasdaq debut. Issued by Backpack Securities, $SPCX en…
@lookonchainBetting big on the #SpaceX IPO? A whale just opened a 2x long on 100,992 xyz:SPCX ($17.33M) and is already sitting on a $608K profit.
@degeneratenewsNEW: @SolanaFndn PRESIDENT @calilyliu TELLS @CNBC THAT $SPCX IPO WILL BE AVAILABLE ON @solana TOMORROW AS SOON AS IT IS AVAILABLE ANYWHERE
@tolyCrushing it!
@tolyThis is f’ing awesome
@toly🤯🤯🤯
@wublockchainJust In: xStocks, the Source Behind Multiple CEX SpaceX Offerings, Reportedly Faces Reduced SpaceX Allocation According to the Kraken growth team, the SpaceX Pre-IPO allocation received from underwriters came in below expectations, while u
@wublockchainDue to issues related to xStocks, both Bybit and Bitget Wallet announced that they were unable to obtain and distribute the allocated SPCX shares from this offering. As a result, all users who participated in the subscription will receive f
@degeneratenewsNEW: @Bybit_Official ANNOUNCES "DUE TO XSTOCKS’ INABILITY TO DELIVER THE UNDERLYING ASSETS, NO SPACEX ALLOCATIONS WERE RECEIVED. AS A RESULT, SUBSCRIBED USERS WILL NOT RECEIVE SPACEX ALLOCATIONS" "100% OF SUBSCRIPTION FUNDS WILL BE AUTOMAT
@coindeskNEW: Crypto exchange Bybit says users will not receive SpaceX ($SPCX) IPO allocations after xStocks was unable to deliver the underlying shares.
@degeneratenewsNEW: @binance ANNOUNCES CANCELLATION OF "BINANCE WALLET SPCXX IPO CAMPAIGN" "DUE TO CIRCUMSTANCES OUTSIDE OF OUR CONTROL, WE ARE UNABLE TO PROCEED WITH THIS CAMPAIGN" SOURCE:
@theblockcoBybit, Binance, Bitget cancel tokenized SpaceX IPO allocations after share shortage