Gate Completes 1:5 SpaceX Asset Certificate Share Split, Trading to Resume May 22

Gate states that it has launched SpaceX (SPCX) pre-market perpetual trading with USDT settlement and 1-10x leverage after completing the 1:5 split for its first Pre-IPOs project.

USDT

34d ago

Summary

Gate announced that it has launched SpaceX (SPCX) pre-market perpetual trading with USDT settlement and 1-10x leverage, adding a derivatives product after completing the 1:5 split for SPCX asset certificates. The exchange said SPCX is its first Pre-IPOs project. Gate also disclosed that SPCX had a $590 subscription price, equivalent to $118 per share after the split, and that the split-adjusted pre-market spot price reached $189.90 within 24 hours.

Terms & Concepts

Pre-market perpetual trading: A derivatives trading format that allows continuous leveraged exposure to an asset before regular market availability or formal listing sessions.
USDT settlement: A trading arrangement in which profits, losses, and margin are denominated and settled in Tether rather than the underlying asset.
Leverage: Borrowed exposure that lets traders control a larger position with less capital, magnifying both potential gains and losses.