Binance, Bybit cancel SpaceX tokenized IPO allocations, refund users

Binance, Bybit, Bitget Wallet and MEXC canceled tokenized SpaceX IPO campaigns after Kraken-owned xStocks failed to deliver the underlying assets, forcing refunds to users.

• Binance, Bybit, Bitget Wallet and MEXC all canceled their tokenized SpaceX IPO allocations on launch day.
• The cancellations were blamed on Kraken-owned xStocks' inability to deliver the underlying SPCX assets.
• Binance had attracted over $557M in USDC deposits for its SpaceX tokenized IPO campaign.
• SpaceX shares opened at $150 and closed at $161.11 on Nasdaq, valuing the company at over $2 trillion.
• Bitget Wallet's COO said the setback damaged trust but the industry will recover.

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