FTX Launches Bitcoin Option Contracts

The crypto-derivatives platform FTX just launched option contracts sure Bitcoin. It would have quickly recorded a trading volume of more than $ 1 million on its new products.

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1 The crypto-derivatives platform FTX just launched option contracts sure Bitcoin. It would have quickly recorded a trading volume of more than $ 1 million on its new products.

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Yesterday on Twitter, Sam Bankman-Fried, the CEO of FTX, announced the arrival of option contracts on the first cryptocurrency on the market, Bitcoin.

Options are live! Https: //t.co/B85lrLVDQO
– SBF (@SBF_Alameda) January 12, 2020

according to Bankman-Fried, the option contracts of FTX have recorded a transaction volume greater than $ 1 million in less than two hours after launch.

A option contract gives its holder the right (and not the obligation) to buy or sell an underlying asset at a price and a date determined in advance.

In recent months, several major players in the cryptocurrency market, like Bakkt, began to offer this type of product. The famous American stock operator CME Group also plans to launch some from today.

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Founded in 2018 in San Francisco and supported by giant Binance, FTX offers a variety of derivatives, including futures, as well as an over-the-counter (OTC) service, across multiple crypto assets. The platform also issued its own digital coin, the FTX Token (FTT).

This fall, an American court accused to have manipulated the price of Bitcoin and to have sold securities without authorization. Due to lack of evidence, the court quickly dropped the charges.