Bybit, Binance and Bitget Cancel Tokenized SpaceX Allocations as xStocks Fails to Deliver Shares - "The Defiant"

Bybit, Binance, Bitget cancel tokenized SpaceX IPO allocations after share shortage

Bybit, Binance, Bitget, and Kraken cancelled SpaceX tokenized IPO allocations after xStocks failed to secure underlying shares; SpaceX opened at $150 (vs $135 IPO, +12%) in the $75B largest Wall Street offering. The failures highlight infrastructure gaps in crypto's traditional finance bridge despite 30% retail allocation—a critical lesson for fintech platforms pursuing IPO democratization at scale.