Major crypto exchanges cancel SpaceX IPO allocations, promising refunds
Bybit, Binance, Bitget Wallet, and MEXC canceled their tokenized SpaceX IPO offerings and began refunding users after failing to obtain the underlying tokenized shares from Kraken-owned xStocks. The cancellations came as SpaceX completed its Nasdaq debut, reportedly drawing heavy demand and raising $75 billion. SpaceX opened at $150, above its $135 IPO price, and closed at $161.11, pushing its valuation above $2 trillion. Bybit said subscribers would not receive allocations because no SpaceX tokens were delivered. Binance said its campaign, which had attracted over $557 million in USDC deposits, could not proceed due to circumstances outside its control. Bitget Wallet and MEXC also confirmed refunds after missing out on xStocks’ SPCX allocation.
