Cryptocurrency exchanges Binance, Bybit, and Bitget this Friday, June 12, 2026, canceled a campaign to allocate tokenized shares of SpaceX (SPCXx) to those who participated in a token presale.
This decision occurred because After confirming that external issuance platform xStocks was unable to secure actual stock titles Traditional markets needed to support the value of each token issued on the Solana network.
The suspension of prospective allocations of financial derivatives to investors came after the exchange opened a pre-trading application window for retail users to gain direct economic exposure to the company’s price movements.
Due to the nature of these tools, tokens act as tracking certificates that provide only price exposure without granting direct ownership, voting rights or collecting corporate dividends.
Due to the lack of delivery of collateral, Bybit stated that “as xStocks was unable to deliver the underlying assets, we were unable to receive any allocation from SpaceX.” Although SPCXx was not delivered to early investors, we would like to clarify that this token is currently tradable within exchanges.
On Bitget’s side, the xStocks team confirmed that the securities do not physically exist for a proper planned distribution to investors by officially announcing that it “did everything possible to guarantee the allocation, but in the end it was not available as expected.”
Similar to other platforms, Binance has definitively halted the promotional campaign it was running for SPCXx tokens on the Binance Wallet internal interface, publicly claiming that this decision was due to serious “circumstances beyond the company’s control.”
A massive subscription through Binance Wallet ahead of SpaceX’s initial public offering (IPO) raised $557 million in USDC from 27,689 addresses seeking to participate in the commercial interests of tokenized shares, CriptoNoticias reported.
To alleviate frustration, Binance has reported that it will return all funds in the USDC stablecoin that were locked during the campaign. Plans to airdrop $1 million in compensation to those affected bStocks Token (SPCXB), the next proprietary product linked to SpaceX.
On the other hand, Biggett We will refund 100% of your subscription capital including fees chargedin addition to granting access to a preferred whitelist for future tokenized listings, and Bybit will credit the return of complementary interest on the funds held.
The sudden suspension of these tokens left thousands of users unable to reap the financial benefits of SpaceX’s historic financial debut on the traditional New York Stock Exchange. The company’s publicly traded shares initially started at $150 and skyrocketed to about $168 per unit. This 24% increase since the start of trading on Friday. The company’s consolidated market value was $2.2 billion..
(Tag Translation)Binance
