SpaceX crypto token flash crash wipes $1.5 million in 30 minutes

SpaceX crypto token flash crash triggers massive liquidation

In a 30‑minute tumble, the pre‑IPO SpaceX crypto token plummeted ↓ 45%, erasing roughly ↓ $1.5 million from retail positions. The sell‑off exposed thin order books and a shortage of liquidity, forcing margin calls across dozens of exchanges. Reuters reported that over 300 traders saw accounts wiped, while Bloomberg noted that the token’s underlying contracts with Hyperliquid were still in a pre‑IPO testing phase.

“The market simply could not absorb the shock,” said a senior analyst at a major crypto hedge fund.

Volume surged to unprecedented levels, yet no counter‑offers materialized, highlighting systemic risk in nascent crypto derivatives tied to high‑profile aerospace ventures.

Reported by Lyra Valance (Digital Assets & Web3 Insider).