THELOGICALINDIAN - FTX has listed acquired affairs for AirBNB advanced of the companys Initial Public Offering It follows contempo additions of Tesla Amazon and Facebook
Airbnb, the world’s best-known online rental marketplace, is now alive on FTX exchange. The banal advertisement comes in the anatomy of a pre-IPO acquired contract, as Airbnb is yet to go public.
FTX Frontruns Nasdaq
Sam Bankman-Fried, the CEO of FTX and now a band amount in the crypto community, took to Twitter to advertise the update:
Bankman-Fried additionally batten to Crypto Briefing about the update, referencing FTX’s focus on innovation:
“We’re appreciative of the addition we brought to the crypto amplitude over the aftermost few years. One of the privileges and responsibilities of accepting done it is that the artefact borderland has confused added apparent and we accept to be added artistic to accumulate blame it forward.”
Airbnb is expected to barrage its Initial Public Offering (IPO) on Nasdaq tomorrow. The aggregation accepted its affairs to account shares at a amount amid $56 and $60. Initially, it was anticipation they’d advertise for afterpiece to $50.
FTX’s acquired affairs are a way of frontrunning Nasdaq. ABNB was listed at $60 backward aftermost night, and it’s now up to about $80. The affairs are advised to chase Airbnb’s banal amount at the end of its aboriginal accessible trading day.
After that, the affairs will cycle over to apportioned stocks affairs with the corresponding Airbnb stock.
Derivatives like this acquiesce users to acquire acknowledgment to the amount activity of the basal asset. In this case, the asset is Airbnb stock, and it’s different because it’s not listed anywhere else.
FTX has apparent abundant advance this year. It’s additionally pulled several big moves recently.
In October, it launched trading on Tesla, Amazon, Netflix, and Facebook. Its derivatives belvedere has a 24-hour trading volume of about $2.4 billion.
