The FTX derivatives exchange has just launched Bitcoin options trading as of January 11 as we are reading more about it in the latest blockchain news today.
The CEO of the FTX derivatives exchange Sam Bankman Fried, announced yesterday in a tweet that the options were listed on the trading platform and in the meantime he also stated that options trading volumes on the exchange reached $1 million in about 2 hours. The announcement didn’t quite specify which assets will be supported although the options just launched on the platform and the exchange only shows Bitcoin-based options. According to the crypto data website CoinGecko, FTX is now the eight top crypto-asset exchange that is based on volume with $277 million traded in less than a day.
FTX was founded in 2019 and provides professional derivative trading products along with quarterly and perpetual contracts for multiple crypto assets that leverage tokens and over the counter services. The trading platform also saw a lot of investments from major crypto exchanges such as Binance. The largest crypto by volume Binance grows more by announcing yesterday its new investment plans in the crypto derivatives exchange FTX. Both companies will reportedly join forces that will develop the cryptocurrency ecosystem even further. Binance takes a long-term position in the FTX token so the derivatives exchange returns the favor by helping build the liquidity and the institutional product offerings.
The crypto derivatives are looking into some positive developments with increasing frequency and OKEx even announced that they will also launch crypto options trading at the end of the previous month. In mid-December, the Paris-based management firm Napoleon AM announced the launch of the regulated Bitcoin fund. Also, The popular crypto derivatives FTX exchange got its $150 million lawsuits dismissed by a US court and the initial reasoning behind the lawsuit was the market manipulation and unlicensed securities sales however the court has not found any solid grounds to move on with the lawsuit.
The international regulatory framework is now much more clear and favorable towards crypto, especially since the South Korean Presidential Committee on the Fourth Industrial Revolution recommended that the government should allow financial institutions to launch crypto-based products.
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