FTX launches a Bitcoin volatility options contract
Sam Bankman-Fried, CEO of new derivatives platform FTX, announced the launch of a Bitcoin volatility contract on Tuesday. BTC-MOVE, the platform's first options contract, represents the absolute value of the price movement of an asset in a day. Opening a long position, for example, bets on volatility while a short position bets on price stability. At time of writing, BTC-MOVE is up 32 percent.
In August, FTX closed an $8 million seed funding round.
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