Crypto trading platforms Bybit, Binance, Bitget Wallet and MEXC cancelled their tokenized SpaceX IPO campaigns as SpaceX went public on the Nasdaq on Friday.
SpaceX’s IPO, which was reportedly more than four times oversubscribed, raised $75 billion as it became a publicly traded company.
SpaceX shares opened for trading at $150 on Friday, up from its IPO price of $135. It closed the day at $161.11, valuing the company at over $2 trillion.
However, major crypto platforms offering tokenized access to the IPO were unable to fulfill demand for SpaceX allocations, with several blaming Kraken-owned xStocks’ inability to deliver the underlying assets.
The failed campaigns marked a setback for crypto platforms seeking to give their users high-demand public offerings for the first time. Bybit, which was offering tokenized access to SpaceX through its new Bybit IPO Express, was one of the first to announce the cancellation.
Update on the SpaceX IPO Subscription
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 automatically refunded to your original…
— Bybit (@Bybit_Official) June 12, 2026
Protect users when things don’t go as planned.
👋
https://t.co/MkJofALzmv— CZ 🔶 BNB (@cz_binance) June 12, 2026
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment