FTX lists GME stock for tokenized spot and futures trading


Crypto exchange FTX has listed the viral GameStop (GME) stock for tokenized spot and futures trading.

Within a few hours of listing, FTX's GME spot volume is around $141,000, while the GME futures volume is about $1.3 million.

GameStop is a video game retailer listed on the New York Stock Exchange. Its stock has surged more than 1,000% this month after a group of investors on Reddit continued to support the stock even as many others on Wall Street have argued that the stock is overvalued and is due for a sharp fall.

The stock has been extremely volatile in recent days, and its trading has been halted several times. Earlier today, hedge fund Melvin Capital also reportedly closed out its GME short position after taking a "huge loss."

As for why FTX has listed the stock, CEO Sam Bankman-Fried told The Block that it was "possibly the most ever requested listing" the exchange has received.

Source: TradingView

FTX started offering 24/7 trading in tokenized stocks and futures in October 2020. Like FTX's other products, its equity trading offering is not available in the U.S. and its other restricted jurisdictions, such as Iran, Syria, and North Korea.

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post