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Binance, Bybit and Bitget cancel SpaceX tokenized IPO campaigns

Binance, Bybit and Bitget cancel SpaceX tokenized IPO campaigns

SpaceX listed on Nasdaq at $135 under SPCX, but several crypto platforms pulled tokenized IPO offerings after xStocks failed to secure enough underlying shares from underwriters.

BNB
USDC
GT

Fact Check
The Bybit official X post (@Bybit_Official, 2026-06-12) directly states that xStocks' inability to deliver the underlying assets meant no SpaceX allocations were received, that 100% of subscription funds are being auto-refunded, and that eligible users get a 10% APR 4-day reward. This precisely matches the claim's Bybit element and the PANews/odaily flashes. The separate Bitget Wallet element is corroborated by the odaily and BlockBeats flashes, which describe full USDT refunds (principal plus 5% fee), whitelist/future-access priority, and a 10 USDT GetGas airdrop, attributing it to the Bitget Wallet official account. Both components of the claim are supported by primary official-account sourcing.
Summary

SpaceX listed on Nasdaq on June 12, 2026 at $135 per share under the ticker SPCX, raising $75 billion, but several crypto platforms' tokenized IPO access products largely failed because xStocks could not secure enough underlying shares from underwriters. Binance, Bybit and Bitget canceled their offerings and refunded users, extending an earlier wave of disruptions tied to the difficulty of obtaining or distributing the stock needed to back the products. Kraken users reportedly received about 4.2786 SPCXx shares each, while BitMart, Gate.io and some MSX users reportedly obtained actual allocations. Binance had already said its Binance Wallet SPCXx IPO event was canceled due to "uncontrollable factors," with locked USDC to be refunded and participating users to receive about $1 million equivalent of bStocks SpaceX token SPCXB. Bybit said partner xStocks could not deliver the underlying asset, and Bitget cited unforeseen market factors that prevented distribution. The outcome highlights how tokenized equity-style offerings remain dependent on traditional underwriting and share allocation pipelines even when distributed through crypto platforms.

Terms & Concepts
  • tokenized IPO offerings: Crypto-based products that aim to give users blockchain-issued exposure to shares being sold in an initial public offering.
  • underlying shares: The actual stock that must be obtained and held to back a related financial product or token.
  • tokenized security: A blockchain-based token that represents ownership or exposure to a traditional security.