Crypto promised retail the SpaceX IPO. Wall Street said no.
@binance,
@Bybit_Official and
@bitget all canceled their tokenized
@SpaceX IPO programs today. Because the share allocation never arrived. Underwriters handed the crypto channel a fraction of expectations, and xStocks couldn't deliver the underlying stock.
Subscribers get full refunds plus compensation: bonus interest at Bybit, fee refunds at Bitget, a $1M airdrop at Binance. Per
@cz_binance: protect users when things don't go as planned.
SPCX is up 26% from its IPO price, a pop retail subscribed for and never got. Crypto's "equal footing with institutions" pitch just met the allocation desk.