This time, the SpaceX IPO exposed how crypto users are still at the bottom of the financial world’s hierarchy. The big four exchanges—Binance, Kraken, Bybit, Bitget—all used @xStocksFi for this IPO. In the end, stocks, carrying the hopes of the entire village, still flopped . In the eyes of underwriters, crypto users are all about chasing pumps and dumps, plus they’re prone to compliance issues. Meanwhile, the old-timers around me, one by one, got allocation rates of over 20% through private banking channels .