Binance and Aster have adjusted all open SPCX pre-IPO contracts after SpaceX updated its filing with the U.S. Securities and Exchange Commission, increasing total shares from 11.87 billion to 13.08 billion. The change was roughly 10%, and both platforms applied a 1.1x multiplier to open positions. Contract counts rose, per-share entry prices fell by a similar proportion, and the notional value of positions remained nearly unchanged.
Share count revision led to a contract rebasing
The adjustment reflects a standard response to dilution. When the total number of shares rises, each share represents a smaller slice of the company, so linked pre-IPO derivatives need to be recalculated. According to the material, users saw their SPCX contract quantity increase by about 10%, while the price attached to each contract was marked down by the same percentage.
The example cited by Aster shows the mechanics clearly. A trader holding 5,000 SPCX contracts at an entry price of 180 USDT would, after the rebase, hold 5,500 contracts at 163.64 USDT. The notional value before the change was 900,000 USDT; after the change it was about 899,998 USDT, with the small gap attributed to rounding.
Aster paused trading and removed open risk orders
Aster halted SPCX trading on June 10 at 08:30 UTC, with the pause lasting up to 45 minutes. During that window, users could not trade, close positions, or manage open exposure. The platform also canceled all open orders tied to SPCX, including take-profit orders, stop-loss orders, and reduce-only orders.
That detail matters more than the position reprice itself. The rebasing did not erase position value, but it did remove existing protection orders. Once trading resumed, users needed to place those orders again if they wanted the same risk controls back on the book.
Strategy bots were shut down during the adjustment
The material also says automated SPCX strategy bots on Aster were terminated at 08:30 UTC. The underlying positions were converted and carried forward, but the bots did not continue running after the adjustment. In cases where a bot was configured to close positions when deactivated, the account would end up with no position after the rebase.
That creates a separate operational issue for traders who rely on automation. A changed position display does not necessarily mean the strategy is still active, and users need to verify whether the position was retained or closed when the bot stopped.
Another SPCX rebase could follow if SpaceX amends filing again
The source says SpaceX is expected to list on Nasdaq under the ticker SPCX. The pre-IPO price circulating in the market is about $135 per share, and analysts have placed the company’s valuation between $1.7 trillion and $1.8 trillion. Crypto trading venues have been offering perpetual products tied to that listing expectation.
Aster said another adjustment may be required if SpaceX files a new S-1/A update before the listing and the revised share count differs by more than 3% from the current estimate. If the change is below 3%, no new rebasing would be triggered.
Based on the information provided, the Binance and Aster actions were a routine corporate-action response in the pre-IPO derivatives market. Position value stayed broadly intact, but open orders, stop-loss settings, and automated strategy status may have changed, which leaves traders with several account-level checks to complete.