Gate completes SpaceX share distribution for first Direct IPO project SPCX

Allocated SPCX shares were credited to stock accounts, with unallocated funds returned automatically as Gate adds web-based stock trading and launches related promotions.

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Summary

Gate said it has completed the first direct IPO stock distribution for SpaceX (SPCX), with allocated shares credited to users’ stock accounts and unallocated funds automatically returned to spot accounts. The distribution marks the completion of the allocation step for Gate’s first Direct IPO project. The platform also said it has added stock trading on the web alongside its app and launched promotional offers tied to the rollout, including selected USDT products with yields of up to 200% annualized and a 50,000 USDT-equivalent SPCX stock prize pool.

Terms & Concepts
  • Direct IPO: A public listing process in which shares are distributed through a direct listing mechanism rather than a traditional underwritten offering.
  • spot accounts: Accounts used to hold assets available for immediate transfer or trading.
  • annualized yield: A projected yearly return rate based on current product terms or promotional rewards.