FTX Exchange Lists WSB 'WallStreetsBets' [+134.84%].

FTX Exchange Lists WSB 'WallStreetsBets' [+134.84%].

2021-01-29 | Eddy Morgan

FTX Exchange Lists WSB 'WallStreetsBets' [+134.84%].

Crypto derivatives exchange FTX has listed a WSB [WallStreetBets] index quarterly derivative contracts within a bid to maximize the retail trading fervor that exploded in recent days. According to Thursday via blog-web post, the basket of markets that structure the contract along with stocks being targeted by the Reddit trading group - Nokia [NOK], Blackberry [BB], EMC Entertainment [AMC], GameStop [GME], iShares Silver Trust [SLV] - & the Dogecoin [DOGE (+397.5%)] cryptocurrency & FTX’s native token FTT. The stocks as well as DOGE comprise 99% of the index, while FTT accounts for just 1%. This new listing comes at a time when demand for WSB-related stocks has skyrocketed within the earlier week, fueled by a social media trading frenzy that has targeted short-sellers and rocked the equities markets. Apparently also trapped within the everyday trading trend is dogecoin, which soared Thursday to new record highs.
“WSB-related stocks are our most requested products ever,” FTX’s CEO Sam Bankman-Fried added via Telegram. “There’s plenty of interest in trading WSB related stocks and [cryptos] immediately … the very fact that a lot of platforms are having trouble offering them is creating more demand.”

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