A dispute between Bitget’s CEO, Gracy Chen, and crypto investor Bruce J has become public, sparking discussion in the cryptocurrency world. The disagreement centers around Republic Ventures, investments linked to SpaceX, and how partnerships are structured for deals involving private companies.
The dispute unfolded on social media platform X, where Chen defended Bitget’s relationship with Republic and challenged suggestions that others had secured access through channels that might conflict with the exchange’s partnership arrangement.
无意评论贵公司的业务，所以从始至终，我澄清都是Bitget与Republic官方有合作，且有独家期。
个人能不能买 Republic 的产品、能不能成为某只基金的 LP？当然能，这对所有合格投资者开放。但“个人以 LP…
— Gracy Chen @Bitget (@GracyBitget) June 16, 2026
Corporate alliances versus individual LP quotas
The conflict stems from Bitget’s strong move into tokenized versions of real-world assets and private equity investments. In April 2026, they introduced IPO Prime with Republic, starting with a digital asset called preSPAX. This asset is designed to mirror how well Elon Musk’s SpaceX performs after it becomes publicly traded.
After concerns arose that individual investors were getting direct access to SpaceX allocations using the same methods, Chen publicly stated that Bitget and Republic have an official partnership with an exclusive agreement in place.
Chen clarified that anyone who meets the necessary qualifications can still invest through Republic. She explained that an individual investing to get a share, and a formal partnership between two businesses, are completely separate matters.
Chen says it’s still important to be open and honest with users, and they also want more clear answers released publicly about some recent concerns people have been discussing.
Bruce J pushes back
Bruce J disagreed with how access related to Republic was described and clarified his role as a limited partner in Republic Ventures. He explained he invests through Republic Ventures, but these investments are distinct from the partnership Bitget claims to have.
Bruce mentioned he invested in SpaceX back in 2020 and recently got an update on when he can expect to receive his share.
He explained that established investment networks and venture capital funds already offer numerous ways for qualified investors to participate, without needing to rely on traditional exchanges.
He explained that the financial world is huge, and successful people concentrate on achieving outcomes and generating profits.
Growing demand for SpaceX exposure
This disagreement highlights a growing pattern in the cryptocurrency world: more and more businesses – including exchanges and investment firms – are looking for methods to offer access to investments in privately held companies like SpaceX.
In the last year, many cryptocurrency platforms have started offering ways to invest in private equity – including tokens representing ownership, partnerships with venture capital funds, and opportunities to buy and sell shares of popular, privately-held tech companies.
With more investors showing interest, having access to opportunities connected to SpaceX gives companies a significant edge in attracting both customers and funding.
AI and SpaceX are competing with crypto for capital
This dispute arose shortly after Chen voiced concerns that raising money for cryptocurrencies is becoming more difficult due to increased competition from AI companies and other tech businesses.
Chen believes the recent difficulties in the crypto market aren’t mainly due to poor overall market performance. Instead, he argues that money is flowing out of crypto and into AI companies and private businesses like SpaceX.
With exchanges striving to stand out, gaining special access to highly valued private companies like SpaceX is a significant edge. The recent discussion between Chen and Bruce J highlights that as venture capital and blockchain technology merge, determining what truly constitutes “exclusive access” will continue to be a major challenge for the industry.
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2026-06-16 12:23