Binance launches pre-IPO perpetual futures for SpaceX and OpenAI
Technology
Binance just rolled out Pre-IPO Perpetual Futures, letting users bet on the value of private companies before they hit the stock market.
The first contracts are for SpaceX (SPCXUSDT) and OpenAI (OPENAIUSDT), so you can jump in early if you're curious about their future price tags.
Contracts offer up to 20-to-1 leverage
SpaceX's contract launched May 21, followed by OpenAI's on May 26.
Both are available 24/7, settle in USDT, and offer up to 20-to-1 leverage. Traders seem excited: SpaceX's contract saw over $280 million traded in its first five days.
Binance says if an IPO gets delayed indefinitely or canceled, there are clear plans for settling things smoothly.