Binance joins Hyperliquid, OKX, and Bitget as SpaceX pre-IPO markets heat up

Binance has launched what it calls the SPCXUSDT Pre-IPO perpetual futures contract hours after SpaceX announced listing on Nasdaq. Currently, expectations of its debut lie between $1.75 to $2 trillion. Binance contracts are using USDT margin and allowing leverage up to 5x. As the product is synthetic, which means no real ownership, traders are only...