According to Reuters, riding the wave of the SpaceX IPO hype, 8 crypto exchanges including Binance, Coinbase, and Hyperliquid have recently launched 'pre-IPO perpetual contracts.' The trading volume for these products has already exceeded $3.2 billion, with open interest around $390 million. Analysts point out that leverage for such products is typically capped at 3x to 5x, but risks like low liquidity, high volatility, and lack of underlying asset price anchoring still exist. The World Federation of Exchanges (WFE) stated that these issues will be included in discussions with regulators. https://(wublock123.com)/news/reuters-8-exchanges-32b-perpetuals-before-spacex-ipo-62715