Binance has launched perpetual futures contracts tied to expected valuations of private companies before their public listings, starting with a SpaceX-linked product settled in Tether’s USDt. The first contract, SPCXUSDT Pre-IPO Perpetual, gives traders exposure to SpaceX’s expected public market valuation before the company begins trading on public exchanges. The product does not represent ownership of SpaceX shares. It is a derivatives contract designed for speculation on valuation levels before and after a potential listing. Binance said the contracts are expected to reflect publicly available IPO pricing ... (full story)