Bybit cancels its SpaceX subscription and issues a full refund due to its partner's inability to deliver the underlying assets.

CoinFeed reported on June 12th that, according to a Bybit announcement, regarding its previously launched SpaceX IPO Subscription, Bybit stated that due to its partner xStocks' inability to deliver the relevant underlying assets, the platform did not receive any SpaceX shares, and users will not receive their SpaceX allocations. Bybit stated that all subscription funds will be automatically and fully refunded to users' accounts via the original payment method; no further action is required, and refund details can be viewed on the IPO Express page. As compensation, eligible participants will receive an additional reward calculated at an annualized rate of 10% for a fixed period of 4 days, which will be automatically deposited into their accounts.