According to on-chain analyst Ai on X, SpaceX's upcoming IPO will increase total shares outstanding to 13.08 billion, representing a 10% increase. With valuation unchanged, SPCX futures contracts will lose 10% of their value, affecting all users holding contracts across multiple platforms.
Binance and other exchanges moved to rebase futures, while DEX Aster also adjusted proactively to prevent user losses. TradeXYZ announced it will not adjust, maintaining its stance as a price-based perpetual futures contract despite resulting losses for long position holders. The exchange stated it plans to provide a solution.