The FTX group, founded by Sam Bankman-Feed, has conquered the cryptosphere on all fronts just two years after its creation. Indeed, the group’s US subsidiary, has just announced the major acquisition for FTX.US. They plan to acquire LedgerX, which would provide US investors with preferential access to Bitcoin derivatives on its exchange.
The Major Acquisition for FTX.US
Unlike FTX International, its US subsidiary FTX.US could not previously enable its users to trade derivatives. It is now a reality. They announced the major acquisition for FTX.US, which is no less than LedgerX, a company that specializes in this volatile investing area.
With the help of the FTX platform, the purchase allows institutional and individual investors in the United States to participate in the derivatives market. We are not aware of any financial details regarding this acquisition.
Furthermore, the acquisition is scheduled to close in October. Brett Harrison, CEO of FTX.US, praised the acquisition:
This acquisition marks an important milestone for our growing U.S. business and is a key part of our strategy to bring regulated cryptocurrency derivatives to our U.S. user base. We believe that integrating our technology skills, product portfolio and expertise with LedgerX will strengthen our ability to provide innovative products to all U.S. cryptocurrency traders.
LedgerX was the first firm to provide physical futures contracts for Bitcoin and Ethereum that were recognized by the Commodity Futures Trading Commission (CFTC) as a designated contract market (DCM). As a result, it is permitted to provide Bitcoin derivatives trading regulated in BTC. LedgerX provides its services to both institutional and individual clients.
Finally, Zach Dexter, co-founder and CEO of LedgerX, stated that the purchase will have no substantial influence on the functionality provided. The existing client base will continue to benefit from the present features and offers.
An Important New Market opened after Major Acquisition for FTX.US
FTX.US is undoubtedly seeking to profit on the massive surge in derivatives trading. According to The Block, spot trade volume in July was around $816.53 billion, compared to $1,470 billion in derivatives trading.
The statistics speak for themselves. And it is clear why the derivatives market is so appealing to digital asset platforms. The FTX exchange appears to have recognized this by making this acquisition, which allows it to consolidate its leadership position in the crypto industry.
It is unclear if the leverage impact, which multiplies possible earnings or losses, will be confined to the FTX.US derivatives catalog. Because of the current tendency among exchanges to minimize such leverage, a positive response is desirable.
Nonetheless, Sam Bankman-Fried bemoaned the stigma of leverage in the Bitcoin industry in an interview with Forbes. Critics of the technique, he claims, forget to highlight its prevalence in traditional financial markets. Indeed, leverage is frequently identified as one of the reasons of significant market losses.
Leverage does exist in conventional markets, although it is rarely discussed. It should be emphasized, however, that the employment of such methods has previously resulted in large losses for hedge funds, most notably during the GameStop event.
All of these concepts are becoming more and more commonplace at an ever-increasing rate – Bitcoin, decentralized finance, crypto assets, etc. Begin accumulating and trading your first Bitcoins by joining on the FTX platform and earning a lifetime discount on trading commissions if you dont want to miss this opportunity.
Will Bitcoin Rise to the $60,000 Mark?
There has been a strong uptrend in Bitcoin over the past few weeks, but the price remains firmly in the $50,000 to $51,000 range and is facing serious resistance. Can we expect Bitcoin to reach the $60,000 mark in September?
As of today, September 2, 2021, Bitcoin has once again breached the $50,000 mark in the cryptocurrency market. On the Bitfinex exchange, the price has climbed to $50,265 dollars. While the bulls are still unable to consistently defend the $50,000 mark, they are still putting up a good fight.
Could there be a bearish trend for Bitcoin following today’s return to $50,000?
Bitcoin (BTC) has been on a tail spin for the last couple of days.
If this bearish trend continues for Bitcoin prices there is a chance that BTC could drop to $40,000 or lower. It’s important to note that BTC has seen similar lows before but it’s hard to predict how long this bearish trend will last.
Is there a Risk of a Sharp Correction after Bitcoin Hits $50,000?
This is a question that many people are asking. There is no clear answer to this question as the market is unpredictable. However, if there are any sharp corrections in the price, it will usually be due to external factors such as regulatory measures.
There have been different prices for Bitcoin in the past few months. These types of fluctuations could be due to external factors that have affected Bitcoin’s performance in the past few months.
Will the Bitcoin supply shock have a positive impact on the Bitcoin price sooner than expected, and will a new bullish wave begin in the next few days?
The supply shock will have a positive impact on the Bitcoin price sooner than expected. A new bullish wave will begin in the cryptocurrency market.
The Bitcoin supply shock is a potential event for an increase in the value of Bitcoin.
The Bitcoin supply shock is going to be due to a psychological demand for cryptocurrencies as well as an actual demand from institutional investors and retailers who want to invest in cryptocurrencies. The increased demand will lead to increased prices which will create more opportunities for people who are already invested.