FTX Launches Futures Based on a Basket of Reddit User Selected Stocks, Including GameStop

The FTX cryptocurrency derivatives exchange has listed the WallStreetBets Index (WSB) quarterly futures, allowing its clients to jump on the retail buzz around certain stocks.

The index basket includes Nokia (NOK), Blackberry (BB), EMC Entertainment (AMC), GameStop (GME) and iShares Silver Trust (SLV) stocks, as well as Dogecoin cryptocurrency and FTX’s own token. The share of the latter is 1%; allocations are evenly distributed among the rest of the assets.

Interest in the shares of these companies has increased sharply over the past week and is due to the squeeze of short positions caused by the directional actions of traders from Reddit to raise their prices. Subsequently, Dogecoin joined the shares, the rate of which increased by 1,000% per day, which allowed it to update its historical highs of about $ 0.08 and enter the top 10 of the cryptocurrency market.

“We have never received as many requests for additions as for WSB-related stocks,” said FTX CEO Sam Bankman-Fried. – There is now a huge interest in trading WSB-related stocks and cryptocurrencies. The fact that many platforms have difficulty trading them leads to increased demand. “

The popular crypto-tracking portal CoinMarketCap today also added a comic WallStreetBets (WSB) token to its platform, placing it at zero place above Bitcoin.

“Please note that this is a joke – no such asset exists. If you see projects with a similar name, please study them properly and don’t rush to invest in anything related to this page, ”wrote CoinMarketCap, along with this posting a short chronology of events around GameStop stocks .

At the same time, it was difficult to withdraw Dogecoin from some trading platforms. According to reports, the cryptocurrency network could be attacked in order to slow down its performance.

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