- The popular crypto exchange FTX has listed Coinbase futures contracts in anticipation of the company’s Initial Public Offering.
- The contracts allow FTX traders to speculate on Coinbase’s stock price at public opening.
- Coinbase filed a Form S-1 to the SEC last week, suggesting that an IPO could be coming imminently.
FTX Exchange, the popular cryptocurrency exchange run by Sam Bankman-Fried, has listed Coinbase. Traders can now purchase a futures contract for CBSE ahead of the company’s highly-anticipated IPO.
FTX Brings Coinbase to the Market
FTX has listed Coinbase.
The cryptocurrency exchange, which specializes in derivatives trading, has listed a futures contract for CBSE. It’s designed to represent stocks for the company ahead of its rumored Initial Public Offering.
The contracts track Coinbase’s market cap divided by 250 million. The contracts are priced at $240 at the time of writing, which projects its market valuation at $60 billion. The contracts will roll over into fractional stock tokens that mirror the stock price at the end of the company’s first public trading day.
If Coinbase doesn’t go public before June 1, 2022, the stocks will expire at a cash price of $32. Margin trading of up to 5x leverage is also available.
It’s expected that Coinbase could be readying for an Initial Public Offering (IPO) shortly. Last week, the company announced that it had filed a Form S-1 to the SEC, a requirement for all public companies in the U.S. preparing to list shares on any exchange.
The news caught the attention of the whole cryptocurrency industry. To date, no cryptocurrency company has gone public. Goldman Sachs will lead the IPO.
FTX Launching Stocks
The Coinbase listing isn’t the first of its kind.
Earlier this month, the exchange listed Airbnb in a similar format the day before the company began trading on Nasdaq. ABNB was first listed at $60, but trading opened at $146 in the IPO, putting FTX frontrunners in significant profit.
In October, Facebook, Netflix, Tesla, and Amazon were also made available to trade on the exchange.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article