Kraken employee: Failed to receive the originally expected allocation from SpaceX underwriters, therefore only partially fulfilling customer orders.

CoinFeed reported on June 12th that, according to a statement released to users by Kraken employee Nata, due to overwhelmingly higher-than-expected demand for SpaceX's pre-IPO subscriptions from the xStocks platform, Kraken was unable to obtain the originally anticipated allocation from SpaceX's underwriters and could only partially fulfill user orders. IPO allocations are determined by the issuer's underwriters, not by Kraken or xStocks. Kraken stated that demand for this offering was exceptionally strong globally, attracting over $1 billion in pre-IPO subscription demand in the week leading up to the listing. Unallocated funds will be fully refunded to user accounts without any fees.