In brief
Coinbase has released a product that allows traders to speculate on the price of companies that are expected to IPO soon.
SpaceX is the first company to be made available for trading on the product, with more companies expected to be announced soon.
Forbes estimates that the SpaceX IPO could make Elon Musk the world's first-ever trillionaire.
Cryptocurrency exchange Coinbase is rolling out a perpetual futures product for pre-initial public offering (IPO) companies, allowing traders to speculate on a company's valuation before its debut. The first pre-IPO company to be traded on the platform is Elon Musk's aerospace company, SpaceX.The SpaceX pre-IPO will be settled using the USDC stablecoin, can be traded 24/7, and all positions will automatically translate when the IPO is complete. That means traders could make massive profits or losses depending on the difference between the pre-IPO valuation and the debut stock price.
