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Crypto

Binance launches USDT-settled perpetual futures betting on SpaceX pre-IPO valuation

Binance has launched a perpetual futures product that lets users bet on the expected pre-IPO valuation of unlisted companies, Cointelegraph reported. The first contract is linked to SpaceX and is settled in tether\'s USDT. The product is designed to reflect disclosed IPO price indicators, valuation ranges and the final offering price, then switch to tracking real-time market prices after listing. Binance said the contract could be delisted and settled under separate procedures if listing is delayed or cancelled.

Crypto

Binance launches pre-IPO futures product tied to SpaceX valuation

Binance has launched a pre-IPO futures product, SPCXUSDT, that reflects SpaceX’s pre-listing valuation and allows traders to bet on expected value before an IPO. The exchange warned of potential sharp volatility after listing and the risk that prices may not reach IPO levels. The product would automatically convert to a perpetual futures contract once an IPO occurs and a third-party provider can calculate a stable price index.