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Crypto-Derivatives Exchange ‘FTX’ Launches 'TRUMP-2020' (TRUMP) Contracts
The renowned crypto-derivatives exchange FTX has made an announcement to launch a new futures contract for traders to speculate on much-hyped US Presidential election in 2020, where Donald Trump’s victory would be gambled on.
TRUMP-2020 (TRUMP) is actually a futures contract on FTX, where it (TRUMP) expires to $1 if Donald Trump wins the 2020 US presidential general election, and $0 otherwise.
Well, FTX clients are now facilitated to trade ‘TRUMP-2020’ (TRUMP) futures contracts as the risk calculations for the contract are based on a “risk price” of $5 per contract, as per the official announcement.
FTX, crypto-derivatives exchange, has been established in early 2019 and offers professional derivative trading products, including quarterly and perpetual contracts on various crypto assets, leverage tokens and over-the-counter (OTC) services. They had rolled out the trading facility for Perpetual Futures on BiLira also, a Turkish Lira-pegged stablecoin released back in October 2019.
FTX was also in the news for Binance’s strategic alliance that led to investment flow to acquire minority stake in Crypto-Derivative Exchange, ‘FTX’, their M&A deal between ‘Binance and Indian crypto-exchange WazirX’ have kept them in limelight.
For now, TRUMP-2020 makes the buzz, FTX Token (FTT/FTX) is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to transact in FTT nor permitted to trade on FTX. Trading ‘Trump 2020 contracts’ is not permitted by residents of the United States, Canada, the European Union, Hong Kong, the United Kingdom, Singapore, the UAE, Cambodia, and other FTX prohibited jurisdictions. One can initiate their positions in these contracts using necessary collateral requirements.