Bankman-Fried Crypto Derivatives Exchange FTX Launches Bitcoin Trading Option

FTX, the cryptocurrency derivatives exchange, launched Bitcoin (BTC) options trading on 11th January.

Shortly after the launch, FTX CEO Sam Bankman-Fried, claimed that options trading volume had hit $1M within 2 hours. Despite only launching in early 2019, according to CoinGecko, FTX is already the world’s 8th biggest exchange based on volume.

In December last year we reported that the world’s second largest exchange by volume, Malta-based Binance, had made a strategic investment in FTX – which Bankman-Fried claimed valued the company in the “hundreds of millions of dollars” (read more).

The past year has seen a surge in interest in crypto derivatives, with Malta-based OKEx also recently announcing plans to launch into the field. Interestingly, in October decentralised derivatives protocol Vega secured $5m in seed funding, and stated its aim of getting rid of the capital markets middlemen (read more).

And, just last week the South Korean Presidential Committee on the Fourth Industrial Revolution (PCFIR) s recommended the government pass legislation to allow financial institutions to offer products like Bitcoin (BTC) derivatives (read more).

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