dream was to create a platform
where people could trade what they
wanted, for the sum that they want-
ed, with tons of channels to take
their money in-and-out and without
being scared of getting kicked off.” In
contrast to traditional betting web-
sites, FTX does not limit the sum of
money one can invest. Furthermore,
the company categorically refuses
to cut off its successful traders. “A
lot of bookies consider that a user
who makes money is a user who is
beating them. We think the inverse.
If you are making money, good for
you! Make more!” says Sam.A Word of Advice
While Sam Bankman-Fried should
not be taken as a political expert,
the FTX CEO does have a
word of advice for traders.
“From a general perspective,
markets are always too slow to react
to long-term trends and too quick to
react to weird, short-term events,”
he explains.
Just weeks prior to the South
Carolina caucus, for example,
Vice-President Joe Biden traded
at $0.055 before jumping to
$0.350 following Super Tues-
day. “Biden was underrated
for some time” he says. “He was
the favorite when the primaries
started, lost some ground to Bernie
and Bloomberg, but in a month he
may well be the candidate with most
delegates.”
Mr. Bankman-Fried also believes
that both Bloomberg and Bernie
should have been higher from the
start. “Bloomberg was looming in
the background and it was clear he
would eventually run,” he suggests.
“Bernie should have been higher
from the beginning. Because he is
unusual, experts thought he wouldn’t
stand a chance. People used to say
that about Trump four years ago,
and look who is President today!”
So what do politics, traders and
cryptocurrencies all have in com-
mon? The answer is that FTX has
been able to combine all three into a
product that can turn your political
expertise into profit.
For more information, visit:
FTX.com.Crypto-Trading Made Easy
“Crypto trading remains a devel-
oping field” states Sam Bankman-
Fried, “so one of our objectives was
to create a platform which is both
powerful enough for professional
traders and intuitive enough for first
timers.” To do so, FTX developed a
fully customizable web portal. Built
with simplified default settings, the
platform offers an array of menus
for users to create the interface that
best matches their needs.
To make crypto-trading as simple
as a ‘Trumpian’ dinner order of burg-
ers & fries, the company launched
a series of products aimed at retail
investors. FTX were the first to in-
troduce ‘leveraged tokens.’ Backed
on the Ethereum blockchain, these
tokens represent a position from
FTX futures, thereby allowing us-
ers to gain access to the company’s
liquidity without having to manage
margin or liquidation risk. “As they
are also traded on other exchanges,
users can instantly utilize or redeem
these Tokens at their fair value with-
out dealing with collateral,” explains
Sam. “As such, they are particularly
interesting to retail traders who can
now take leveraged positions on spot
exchanges without passing by riskier
margin and futures exchanges.”
FTX’s other products include a
series of index futures such as ALT,
the world’s first liquid cryptocur-
rency index on altcoins; the aptly
named SHIT, which trades low-cap
cryptocurrencies; and MID, for mid-
cap coins like ADA, NEO, ONT, DOGE
and BTT.
For those who think that SHIT
sounds too complicated, FTX also
launched an innovative futures that
even ‘Joe the Plumber’ (or what-
ever “generic name + generic title” a
presidential candidate will employ to
define ‘the common people’) will be
able to understand easily: the 2020
US Election.
FTX’s ‘2020 US Election’ is an
election market that allows people
to trade on the outcome of the Presi-
dential race. “We made this prod-
uct as straight-forward as possible”
claims the CEO. Originally, traders
could choose from six contracts,
each belonging to a presidential
candidate, to turn their political
expertise into a handsome profit.
Each contract expires at $1 if said
candidate wins the election, and $0
otherwise. “So if you think Trump
has a 63% chance of winning, then
create our own OTC portal,” says
the CEO. Today, FTX accepts cryp-
tocurrency transactions, including
Stablecoins and Bitcoins, as well as
traditional means of payment such
as wire transfers and credit card
remittances.
But perhaps the greatest benefit
the firm has to offer is an ideological
one. “When we founded FTX, ourhis price should be $0.63,” explains
Sam. “Buying below that would be
good, as would selling above.”The Art of the (Crypto) Deal
Now, this is the kind of betting that
casino-owning President Trump
could get into, and we all know who
his money would be on. Favorite of
the bookies’, ‘The Donald’ is currently
trading at $0.594 on the FTX mar-
ket; while Bernie Sanders and Joeroughly amounting to 10% those
of traditional platforms. Secondly,
users can benefit from one of FTX’s
core advantages: its substantial
liquidity. In comparison to poker
websites who sometimes struggle
to get funds in-and-out, FTX has,
through its diversified offering, been
able to create various avenues to
pump liquidity into its ecosystem.
“Our desire for liquidity motivated
us to facilitate payment forms andProduced byBiden are trailing at $0.054 and
$0.350 respectively.
Needless to say that those who
shorted Buttigieg and Warren,
whose contracts have been trading
close to $0 since they exited the race,
have been stacking loot.
In comparison to conventional
betting websites, FTX’s ‘2020
Election Market’ boasts a series of
lucrative advantages. Firstly, the
company offers incredibly low fees,$ (^0). (^350)
on FTX
$^0.^054
on^ FTX