SpaceX-linked | Crypto

The crypto exchange's new pre-IPO futures product lets traders speculate on SpaceX’s expected public market valuation before the company begins trading on public exchanges. Binance launched perpetual futures contracts tied to the expected valuations of private companies ahead of their public listings, starting with a SpaceX-linked product settled in Tether's USDt (USDT). Binance said pre-IPO perpetual contracts are expected to reflect publicly available IPO pricing indicators, including announced valuation ranges and final offering prices, before a company begins trading publicly. After a listing, the contracts would transition to tracking live market prices. The first contract, SPCXUSDT Pre-IPO Perpetual, is tied to SpaceX's expected public market valuation, with additional pre-IPO perpetual contracts to follow over time. Read more

Bitget’s IPO Prime will debut with preSPAX, a Republic-issued token tied to SpaceX’s post-IPO performance rather than direct ownership of the company’s shares. Cryptocurrency exchange Bitget has launched IPO Prime, a proxy offering tied to the pre-initial public offering (IPO) phase of Elon Musk’s aerospace manufacturing and space transportation company, SpaceX. Bitget said Friday that IPO Prime will start with preSPAX, a Republic-issued token designed to give retail users economic exposure tied to SpaceX’s post-IPO performance. The exchange said the product does not give buyers direct ownership of SpaceX shares, and that SpaceX has not endorsed, approved or authorized the offering. The launch highlights how crypto exchanges are bringing more traditional investment products onto blockchain rails in a bid to attract users with round-the-clock access to assets that have historically been harder for retail investors to reach. Read more