Binance CEO Changpeng “CZ” Zhao has responded to the sudden halt of the long-awaited space-themed exchange listing. He provided assurance that customer security was put first.
Binance to refund users’ funds
“Protect its users when things go wrong,” CZ posted on X. He also linked to the official statement addressing the implications of the Binance Wallet SPCXx IPO.
Protect users when things don’t go as planned.
👋
https://t.co/MkJofALzmv— Czechoslovakia 🔶 BNB (@cz_binance) June 12, 2026
in advertisementBinance stated that it was unable to continue with the plan due to “circumstances beyond our control.” The company added: “We deeply apologize for any inconvenience this may cause.” It was also notified regarding compensation measures for those affected.
The exchange announced that all USDC tokens subscribed by participants will be returned to them in the same way they paid. Binance stated that refunds are underway and will be completed by June 12.
In addition to the refunds, Binance announced $1 million in compensation to its users, which will be paid in the form of SPCXB tokens. The exchange said that its users who participated in the airdrop will receive an equal amount from the live drop in their Binance Spot accounts by June 18.
Binance said SPCXB is the “next bStocks token” that will track the price of the coin SpaceX shares. The company says the digital assets will be backed “at a 1:1 ratio by real SpaceX shares held by a regulated custodian.” Furthermore, it will provide proof of reserves for transparency.
previously, Binance platform has been launched Perpetual futures contracts ahead of SpaceX’s debut IPO.
Investors pumped $557 million into SpaceX’s campaign
There has been a lot of investor interest in Binance’s canceled campaign. According to Dune Analytics, the show saw approx $557 million value of subscriptions From 27,689 wallet addresses participated.
In this context, retail investors dominated the supply. These subscribers, who pledged less than a fifth of the total pledged capital, made more than $20,000. Approximately 17% of participants were medium-sized participants ($20,000-$100,000), who contributed approximately 58% of the funds raised.
Major investors also played their role in the campaign. More than 10% of subscribed capital, or at least 114 wallet addresses, contributed more than $500,000.
SPCXx is linked to xStocks and is designed to give investors exposure to SpaceX without having to buy shares publicly. However, the pre-IPO SpaceX allocation that xStocks received from the underwriters fell short of expectations. Hence, Binance and Bybit had to cancel I carried them.
To learn about upcoming cryptocurrency airdrops, please check out our page at Cryptocurrency drop.
