Ignoring Outages, Coinbase Futures Set Record Highs as Bitcoin Rally Continues
CBSE futures on FTX hit $311 Thursday afternoon.
Updated Sep 14, 2021 at 10:52 a.m. UTC
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/7EGHDSSTSBAENLHUF62GKCO7TA.png )
cbse-ftx
Pre-public offering futures for leading U.S.-exchange Coinbase hit $311 Thursday on derivatives exchange FTX amid bitcoin's parabolic price rally and despite Coinbase's ongoing "connectivity issues."
- At their launch, Coinbase futures previously topped out just above $295.
- Notably, FTX's CBSE futures market is still quite small, reporting roughly $33,000 in 24-hour volume.
- Bitcoin ripped through $39,000 for the first time ever late Thursday morning, recording an over 30% gain already in 2021 following its more than 300% rally last year.
- FTX CEO Sam Bankman-Fried told CoinDesk in mid December his team was working to get legal clarity from non-U.S. regulators before launching the market.
- Coinbase futures soared 140% in their first hour of trading a few days later.
Price action for pre-IPO Coinbase futures listed on FTX
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/GEQX7QE6YZGEPEBIKYPM5XZ2N4.png )
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/5STHS7QJQFGJBP3TK23HIENQEY.jpeg )
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PISR2HW5OJCK3JSCA6OMYNQUOI.jpg )
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/STPR6HQPSVCXFNTWM6KU5KXXZI.jpg )
