Kraken employee: The reduction in SpaceX orders is due to global demand far exceeding the allocation limits set by underwriters

Kraken employee Nata posted an explanation for why the SpaceX Pre-IPO orders were only partially fulfilled: global demand far exceeded the allocation limits set by underwriters, and the unmet portion will be fully refunded without any charges.

ChainCatcher previously reported that Kraken employee Nata stated that the subscription limit for SpaceX tokenized stock (SPCX) on the xStocks platform "was much less than expected and was significantly reduced," adding a note to "cancel hedging." Currently, Kraken has not issued an official statement on this matter.