Binance launches SpaceX-linked perpetual futures ahead of IPO

The crypto exchange’s new pre-IPO futures product lets traders speculate on SpaceX’s expected public market valuation before the company begins trading on public exchanges.

Binance launched perpetual futures contracts tied to the expected valuations of private companies ahead of their public listings, starting with a SpaceX-linked product settled in Tether’s USDt (USDT).

Binance said pre-IPO perpetual contracts are expected to reflect publicly available IPO pricing indicators, including announced valuation ranges and final offering prices, before a company begins trading publicly. After a listing, the contracts would transition to tracking live market prices.

The first contract, SPCXUSDT Pre-IPO Perpetual, is tied to SpaceX’s expected public market valuation, with additional pre-IPO perpetual contracts to follow over time.

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