SpaceX IPO Tokenization Fails Crypto Exchanges: Binance, Kraken, Bybit Get Scraps
Crypto's big players like Binance, Bybit, and Kraken got a raw deal on SpaceX IPO allocations, receiving only fractions of what users demanded. Bybit got zero, refunding everyone, highlighting the wild west of tokenized equities.
SpaceX's massive IPO hit the tokenized crypto world like a ton of bricks, and most exchanges got crushed. Binance, Bybit, and Kraken users piled in for tokenized SpaceX shares (SPCXx), but the actual allocation from underwriters was a joke. Demand blew supply out of the water, leaving most users with nothing but a refund.