Tokenized SpaceX Shares Start Trading on Solana as Binance, Bybit, Bitget Cancel IPO Allocations
Binance, Bybit and Bitget canceled plans to offer tokens backed by SpaceX stock to overseas investors during the company’s IPO after xStocks, the partner behind several exchange offerings, failed to secure enough SpaceX stock. Bybit and Bitget said subscribers would receive full refunds, while Binance canceled its Binance Wallet SPCXx campaign and said locked USDC would be returned.
The shortfall came as SPCX began trading on Solana and became available through venues including Uniswap. Demand appeared strong: Binance Wallet’s SpaceX IPO subscription drew about $557 million from 27,689 addresses, and Kraken said the pre-IPO allocation it received from underwriters came in below expectations, forcing partial fills and refunds of the remainder. Backpack Securities previously said SPCX is backed by a real SpaceX share and redeemable 1:1 into a brokerage account.
From the sources (25 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…
@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
@mertRT @Orb_Markets: $SPCX is live on Solana
@haydenzadamstokenized stonks on Uniswap 🚀
@mertthis is actually pretty big this is a tokenized security that is **actually redeemable** for the underlying stock with dividends and rights built in backpack has its own brokerage similar to robinhood etc accessing us stocks with just
@wublockchainBinance has canceled its Binance Wallet SPCXx IPO campaign. It cited circumstances beyond its control. All locked USDC from participating users will be fully refunded to their Binance Wallets through the original payment method. In additio
@toly🤯🤯🤯