PANews Original | SpaceX Hits $2.1T, While Crypto Investors’ IPO Dreams End in Refunds
@SpaceX has finally rung the Nasdaq opening bell.
The record-breaking IPO drew more than $250 billion in investor demand. Shares surged over 30% intraday before closing with a market cap of roughly $2.1 trillion. Early VCs, university endowments, and thousands of employees cashed in, but users who subscribed through crypto platforms largely missed out.
@krakenfx users generally received allocations worth only about $600, while
@Gate's allocation rate was roughly 3%.
@binance,
@bitget, and
@Bybit_Official issued near-full refunds, offering only small airdrops, fee coupons, or short-term yield compensation.
Behind the frenzy, valuation concerns remain. SpaceX lost $4.28 billion in the first quarter and has accumulated more than $40 billion in losses. Bulls are betting on Starlink, orbital AI, and space infrastructure, while skeptics argue that its valuation is driven more by Musk’s vision and future expectations than current fundamentals.
With the trillion-dollar bell now rung, public markets have officially begun pricing the dream of reaching the stars.
#SpaceX #IPO #SPCX #ElonMusk #Crypto #PreIPO #TokenizedStocks #Nasdaq