Binance has canceled its SpaceX IPO token offering citing circumstances beyond its control and will refund all user contributions. The exchange also announced a $1 million airdrop of tokenized SpaceX shares to eligible participants. Competitor Bybit reported a similar failure with its SpaceX IPO Express product due to its partner’s inability to deliver the underlying assets.
Binance has canceled its SPCXx IPO campaign for SpaceX shares. The exchange said affected users will receive full USDC refunds. All locked funds will be returned through original payment methods by June 12, 2026.
The company stated the cancellation was due to circumstances outside its control. Binance did not provide further details on the specific reasons.
Binance will distribute a $1 million airdrop of SPCXB tokens to eligible campaign participants. These tokens are scheduled to reach user spot accounts by June 18, 2026.
SPCXB aims to replicate SpaceX share price movements. The token will have a 1:1 collateralization ratio with SpaceX shares held in custody.
Binance noted that trading of SPCXB will be available on its Spot market soon. The platform also allows trading of over 7,000 U.S.-listed securities.
Bybit encountered a parallel issue with its SpaceX IPO Express product. Reports indicate no allocations were received due to xStocks’ failure to deliver assets.
100% of subscription funds will be automatically refunded to your original… Bybit also stated eligible users will receive compensation calculated at 10% APR for four days.
These events highlight challenges in issuing tokenized real-world asset products. The refunds and compensations demonstrate how trading platforms handle user funds during failed launches.
