Cryptocurrency exchange derivatives FTX launched trading options for Bitcoin (BTC) on Jan. 11.
FTX CEO Sam Bankman-Fried announced yesterday in a tweet that the trading platform had listed options. In addition, he also reported that the value of options trading on the exchange reached $1 million in about 2 hours later that same day.
While the announcement does not clarify which crypto assets are supported by the options that have just been released on the platform. The website shows only options based on bitcoins. FTX is the eighth largest volume-based crypto-asset exchange, with $277.8 million exchanged over the last 24 hours. According to the crypto-currency data website CoinGecko.
FTX was established in early 2019 and provides qualified derivative trading items. Including quarterly and permanent contracts for various crypto assets, leverage tokens, and OTC services. As announced late December, the trading platform also recently saw investments from global crypto exchange Binance.
Crypto-currency derivatives are seeing an increasing frequency of positive developments. A cryptocurrency exchange headquartered in Malta, OKEx announced it will start the crypto options trading at the end of last month. In addition, a Paris-based asset management company called Napoleon AM announced the launch of a managed Bitcoin fund in mid-December.
Additionally, the international regulatory framework is becoming ever clearer and more favorable. For example, the South Korean Presidential Committee on the Fourth Industrial Revolution recently recommended that the government allow financial institutions to start financial products based on cryptocurrency.
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