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Binance launches SpaceX pre-IPO perps amid $2 trillion valuation bets
Key takeaways
- The first contract to go live is tied to SpaceX, a company expected to debut at a valuation of $2 trillion or more.
- The first listing, SPCXUSDT, will be margined and settled in the dollar-pegged stablecoin tether USDT$0.9992 and is based on the expected market valuation of Elon Musk's Space Exploration Technologies Corp.
- The move marks the expansion of Binance's derivatives product suite into traditional finance territory.
The first contract to go live is tied to SpaceX, a company expected to debut at a valuation of $2 trillion or more.
The "Pre-IPO Perpetual Contracts" are designed to provide retail traders with early exposure to high-profile initial public offerings (IPOs), a market segment historically reserved for institutional investors and venture capital firms. The first listing, SPCXUSDT, will be margined and settled in the dollar-pegged stablecoin tether USDT$0.9992 and is based on the expected market valuation of Elon Musk's Space Exploration Technologies Corp. (SpaceX).
The move marks the expansion of Binance's derivatives product suite into traditional finance territory.
Article preview — originally published by CoinDesk. Full story at the source.
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