Crypto derivatives exchange FTX launches futures on 2021 Olympics

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Cryptocurrency derivatives change FTX has created a brand new specialised futures contract for merchants to wager on the chance of the Olympic Video games occurring in Tokyo in 2021. The coronavirus pandemic continues to forged a shadow over the safety of internet hosting the occasion this 12 months, significantly after a renewed outbreak of the virus in Tokyo final month.  

For every such uncertainty, as FTX noted in its tweet selling the brand new contract, there could be a profitable market. The brand new futures contract on FTX Token (FTT) has, based on the change, a unique threat profile than Bitcoin (BTC). That’s, “It has considerably increased probabilities of making giant strikes (to $0 or $1).”

Along with the OLY2021 contract, FTX is continuing its line of merchandise for hypothesis on the future likelihood of a Trump presidency in 2024. Notably, neither of those contracts is accessible to residents of barred jurisdictions, which embody america, Canada, mainland China and Hong Kong, Singapore, Turkey, the UK and others. 

As beforehand reported, cryptocurrency-powered markets have flourished throughout a politically and economically turbulent 12 months. Final autumn, with america presidential election in focus, decentralized prediction platforms equivalent to Augur and Polymarket reported important will increase in buying and selling volumes, alongside crypto derivatives exchanges like FTX.