Binance and Bybit Cancel SpaceX Token Offerings 

• Binance and Bybit canceled SpaceX token plans after Kraken-owned xStocks failed to deliver shares.
• Binance distributes $1M SPCXB airdrop equally to all affected users credited by June 18 automatically.
• Bybit compensates users with 10% APR reward over four days, credited automatically to accounts.

Binance and Bybit both canceled plans to offer tokenized SpaceX stock to overseas investors during the IPO after their shared infrastructure partner xStocks, owned by Kraken, was unable to secure sufficient SpaceX shares to back the products.

The cancellations left thousands of crypto users unable to participate in what became the largest IPO in Wall Street history, with SpaceX opening at $160.83 per share on Friday, 19% above its $135 IPO price.

What Each Exchange Is Doing

In addition to refunds, both exchanges introduced separate compensation programs for affected …

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