Cryptocurrencies

FTX exchange launches futures for Coinbase IPO – Cryptocurrencies

coinbase futures contract IPO FTX

By announcing you here Coinbase’s intention to go public, mention was made of the cryptosphere’s great enthusiasm for the advent of this project. This is illustrated to you today with the latest product from the crypto trading market FTX. Known for launching milestone fulfillment futures, FTX decided to put it back with the Coinbase IPO. An offer that is somewhat reminiscent of the one it had already offered to the public in the case of Airbnb.

Pub


A futures contract worth $ 235

Officially launched on December 21, Coinbase pre-IPO futures are offered with a cash margin of up to 5x as stated by Sam Bankman-Fried – CEO of FTX– sure Twitter. According to the terms of the contract, the value of this will be linked to the market valuation of Coinbase Inc. at the end of the first day of trading. For now, they are exchanged for the sum of $ 235 per unit. FTX specifies that these contracts do not enjoy any delivery rights or shareholder rights.

With a total of $ 2.2 million for the day following the launch, the new FTX futures product is already experiencing significant trading volumes. Thanks to this product, FTX was able to show how interested the community was in the listing of one of the most influential exchanges in the business. Fond of this kind of opportunity, the DeFi space has also recorded an unofficial IOU on Coinbase futures contracts. This was notably exchanged on decentralized platforms such as Uniswap and Sushiwap.

Already $ 500 million in funds raised by Coinbase

While some prefer to wait for Coinbase’s plan to be validated by the SEC, the more optimistic already expect see the value of Coinbase rise. Among the many figures mentioned so far, much of it is above $ 28 billion. As part of the preparations, Coinbase Has Already Raised $ 500 Million In Equity From Greylock Partners, Andreessen Horowitz, MUFG, Tiger Personal-Financial.com Management, And Many More.

Pub

The web is also carried away by the idea of ​​seeing this day arrive in the image of this comment released by a former member of Wall Street: “I have important flashbacks at the moment on the IPO of ‘Amazon in the 1990s, when I was a trader in a large sales office. I feel something very similar in a number of ways, especially with regard to the industry background and public sentiment, the latter comprising a tremendous amount of skepticism and contempt. “.

As might be expected, the advent of what would be a crypto exchange’s first IPO has left no one indifferent in the finance industry. More than a personal victory for Coinbase, the entire crypto space should come out on top.

Tags

Related Articles

Back to top button
Close
Close