SpaceX listed on Nasdaq at $135 per share under the ticker SPCX, raising $75 billion and setting an IPO fundraising record. But the crypto industry’s large-scale attempt to offer retail IPO access through xStocks ended with cancellations, refunds and tiny allocations for many Kraken users.

SpaceX listed on Nasdaq at $135 per share under the ticker SPCX, raising $75 billion in a record-setting IPO. But crypto platforms’ attempt to offer retail users tokenized IPO access through xStocks largely broke down, with Bybit, Binance and Bitget Wallet canceling campaigns and issuing refunds, while many Kraken users reportedly received only about 4.2786 SPCXx tokens.

SpaceX listed on Nasdaq at $135 per share under the ticker SPCX, raising $75 billion and briefly trading above $170. But the crypto industry’s tokenized IPO access experiment broke down as xStocks allocations fell far below demand, triggering refunds across Bybit, Binance and Bitget Wallet, while many Kraken users received only about 4.2786 SPCXx tokens.

Mantle has listed SPCXx, a tokenized SpaceX equity issued by xStocks, enabling 24/7 on-chain trading on the same day SpaceX completed what Mantle described as the largest IPO in history.

Mantle announced the launch of SPCXx, a tokenized SpaceX equity product issued by xStocks. The asset went live through Fluxion and Merchant Moe, with Merchant Moe launching the “Project X” incentive program and allocating 100,000 MNT rewards for liquidity providers in the first SPCXx/USDT0 pool.

Mantle has launched SPCXx, a tokenized SpaceX equity product issued by xStocks, with 24/7 on-chain trading beginning on the same day SpaceX completed what Mantle described as the largest IPO in history. The asset is available through Fluxion and Merchant Moe, with a 100,000 MNT liquidity incentive program.

Binance Wallet has cancelled the SPCXx IPO campaign due to “uncontrollable factors.” Locked USDC will be fully returned, while participating users will receive an airdrop of SPCXB worth about $1 million in total.

Binance Wallet has canceled the SPCXx IPO due to uncontrollable factors. Locked USDC will be fully refunded to participants via the original payment method, while Binance will airdrop $1 million worth of SPCXB to all participating users.