Crypto-exchange Binance has made a strategic investment in the crypto-derivatives-Trading-platform FTX. To achieve combined both companies Trading volume in Bitcoin Futures markets in the amount of more than $1 billion.
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Binance and FTX join forces
Binance extended its reach, and another company in his investment pool. This time, the Malta-based crypto Trading platform equity in the value of the “tens of millions” in FTX, one of Alameda Research based stock market for crypto-bought derivatives.
For this purpose, Changpeng Zhao, the founder and CEO of Binance:
“The derivatives area for crypto is very new, and we want to support several initiatives to increase the size of the industry… The FTX Team has developed an innovative crypto-Trading platform with amazing growth. With her Background as a professional Trader, we see a lot of us to be in the FTX Team and believe in their potential, a major player in the markets for crypto-derivatives.“
Binance now holds a “double-digit” percentage of all shares of San Francisco-based exchange. Sam Bankman-Fried, the founder and CEO of FTX, meanwhile, is majority owner.
Bankman-Fried, added:
“The investment will help to accelerate the growth of FTX with support and strategic advice through Binance, during FTX keeps his independent business activities to maintain… As we are thinking about a series of Tokenizing projects developed FTX, is Binance as a Partner is super powerful.”
Through the merger, the company will be able to gain a significant share of the Bitcoin futures markets.
1 billion Dollar Trading volume combined
Data-analysis company Skew, according to the Deal between the Binance and FTX brings together two companies, which combines a Trading volume of over 1 billion dollars. Binance has more to do with Bitcoin Futures markets, an all-time high of $ 2.5 billion, while FTX was able to achieve by the end of September of $ 750 million.
Binance and FTX BTC Futures volume to Skew
The most amazing thing about these Figures is not Skew, according to the futures markets of these companies “existed at the beginning of the year yet”. Now the two exchanges demonstrate, in terms of order book depth, the second and third place in the most liquid exchanges.
The time will show whether Binance and FTX to be a threat to BitMEX, the most liquid crypto-derivatives exchange in the industry.