SpaceX (SPCX) Began Trading, but Binance and Other Major Cryptocurrency Exchanges Were Forced to Issue Statements One After Another

It has been reported that allocation issues are occurring for SpaceX Pre-IPO products offered through the tokenized stock platform xStocks.

According to information from Kraken’s growth team, SpaceX Pre-IPO allocations from intermediaries fell short of expectations, while user demand significantly exceeded the available supply.

Therefore, Kraken was only able to fulfill a portion of user orders. It was stated that the unfulfilled order amounts would be fully refunded to users. According to community feedback, all users who successfully received allocations on Kraken were given the same amount, 4.2786 SPCX.

This development is believed to have also affected exchanges like Kraken, Bybit, Binance, and Bitget, which offer xStocks or tokenized stock products. Bybit and Bitget Wallet announced that they would be unable to procure and distribute their allocated SPCX shares from this offering due to the xStocks-related issues. As a result, they announced that all users who participated in the subscription process would receive a full refund.

Binance announced the cancellation of the SPCXx IPO campaign conducted through Binance Wallet. The exchange apologized to users, stating that the campaign could not continue due to circumstances beyond their control.

According to Binance’s statement, all locked USDC balances of users who participated in the campaign will be returned to their Binance Wallet accounts via their original payment method without requiring any further action. The refunds are being processed gradually and are targeted to be completed by June 12, 2026.

In addition, Binance announced that it will airdrop $1 million worth of bStocks SpaceX tokens (SPCXB) to users participating in the campaign. The airdrop will be automatically transferred to participants’ Binance Spot accounts, and the distribution is planned to be completed by June 18, 2026.

*This is not investment advice.