TLDR Tech / Crypto
Binance, Bybit, and Bitget cancel tokenized SpaceX IPO allocations
Binance, Bybit, and Bitget canceled their tokenized SpaceX IPO campaigns after their equity partner, xStocks, failed to deliver the underlying shares amid demand that outstripped supply roughly four to one, with over $1 billion in customer orders collected across platforms before the mechanism collapsed. Binance's campaign alone drew about $557 million in onchain subscriptions but distributed no allocations, while all three exchanges issued full refunds, with Bybit also offering a bonus equivalent to 10% APR over four days and Bitget adding gas vouchers and access to future tokenized IPO campaigns.
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