Major Crypto Exchanges Cancel SpaceX IPO Allocations, Offer Refunds
- Bybit, Binance, Bitget Wallet, and MEXC canceled their tokenized SpaceX IPO campaigns.
- SpaceX’s IPO raised $75 billion and was reported as over four times oversubscribed.
- Shares opened at $150 and closed at $161.11, valuing the company over $2 trillion.
- Binance’s campaign attracted over $557 million in USDC deposits but could not proceed due to external issues.
- Refunds are being processed for users who subscribed to the canceled campaigns.
The inability of major crypto platforms to fulfill demand for SpaceX allocations stemmed from Kraken-owned xStocks’ failure to deliver underlying assets. This setback has impacted trust within the cryptocurrency industry.
Despite raising a significant amount during its IPO, the cancellation of tokenized access by these exchanges highlights ongoing challenges in the crypto market.(Source)
