Crypto Exchanges Cancel SpaceX Tokenized Share Campaigns
- Three crypto exchanges, Binance, Bybit, and Bitget, canceled campaigns to provide access to SpaceX IPO shares.
- The cancellations were due to xStocks’ inability to secure allocations of SpaceX shares.
- Shares of SPCX increased by more than 26% from their IPO price of $135.
- Binance is distributing $1 million worth of SpaceX shares via its bStocks offering as compensation.
- Bybit provided additional interest rewards for funds held during the campaign.
Crypto exchanges had to cancel their tokenized share offerings for the SpaceX IPO after xStocks failed to obtain necessary share allocations, leading them to refund customers and offer compensations through other means like Binance’s bStocks distribution.
Despite the setback in accessing tokenized shares, SPCX saw a notable increase in value post-IPO, reflecting strong market interest and demand for SpaceX equity exposure. (Source)
