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Home/News/Binance Refunds $557M in SpaceX IPO Subscriptions, Offers SPCXB Token Airdrop
CoinGape·2d ago·mixed

Binance Refunds $557M in SpaceX IPO Subscriptions, Offers SPCXB Token Airdrop

Binance is refunding all $557M in SpaceX IPO subscriptions after xStocks failed to deliver enough shares. CZ also announced a $1M SPCXB token airdrop as compensation for affected users.

  • Binance refunded all USDC from 27,689 subscribers after xStocks received fewer SpaceX shares than expected.
  • CZ announced a $1M compensation pool paid in SPCXB tokens, a new bStocks token tracking SpaceX stock 1:1.
  • The SPCXB token will be backed by real SpaceX shares held by a regulated custodian with proof-of-reserves.
  • Binance had previously launched pre-IPO perpetual futures for SpaceX, drawing $557M in subscriptions.
  • Refunds are being completed by June 12, with SPCXB airdrops distributed by June 18.
exchangeImpact 7/10
Why our editor rated this mixed

The cancellation is negative for users who expected SpaceX exposure, but Binance is fully refunding and adding compensation, which shows accountability. Mixed because the outcome is disappointing but handled responsibly.

Read the full story at CoinGape

Coinporta summarises news for fast scanning. Full reporting belongs to the source.

Last updated 13 Jun 2026

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