Kraken Employee: SpaceX Order Cut Due to Global Demand Far Exceeding Underwriters' Allocation

BlockBeats News, June 12th, Kraken employee Nata posted an explanation of why the SpaceX Pre-IPO order was only partially filled. The global demand far exceeded the underwriter's allocation, and the unfilled portion will be fully refunded without charges.

Earlier, Nata posted that the subscription quota for SpaceX tokenized stock (SPCX) on the xStocks platform was "much, much less than expected, drastically reduced," with a footnote stating "hedging canceled." Kraken has not yet made an official statement on this matter.