Traders Can Place Bets on CoinFLEX for Whether or Not Facebook's Libra Will Launch in 2020

Facing Damages of over $1.4 Trillion.

Are you betting that Facebook’s stablecoin project Libra will be delayed? We have good news for you. Now, you can literally bet on this matter. Coinflex, a crypto derivatives exchange, has recently launched a new product: physically-delivered futures on whether Facebook will succeed to launch the Libra or not.

According to Coinflex, each contract will cost 30 cents to reflect the expected likelihood that the product will actually be launched by Facebook: 30%. The CEO of the company, Mark Lamb, was interviewed by Bloomberg and affirmed that extensive consultation with investors was done before the product was properly launched.

Lamb affirmed that the product launched by Facebook would be so powerful that regulators would not simply accept it without a brutal backlash. This greatly diminishes the chances that the asset will be launched without any kind of delay.

Libra has been giving several mixed signals lately. For instance, Paypal, one of the largest supporters of the Libra Association, was reported to give up on being a part of the company. The head of Calibra, David Marcus, affirmed recently that the goal is still to launch in 2020, but this seems increasingly unlikely.

How Will It Work?

The product will be launched via an Initial Futures Opening (IFO) a few weeks from now and then traders can finally start their bets.

Basically, traders can trade for or against the launch in 2020. If they trade believing that it will happen, they will pay 70% of one Libra token. If they are right, they receive the whole token. If they are wrong, they won’t receive anything. If they bet against the launch in 2020, they will receive the money if the asset is not launched.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Gabriel Machado
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Chinese Internet Giant Arm, Tencent Cloud, Looks to Form A 100-Member Blockchain Alliance

Tencent’s cloud computing arm venture is bringing together a 100-member blockchain alliance to further blockchain implementation and find new real-world use cases of the...

OKEx Crypto Exchange Launches ETH Options Contract; EOS Options Trading to Follow

One of the largest cryptocurrency trading and derivative platform OKEx, announced the launch of its Ether options contract on June 4th. On June 18th, the...

Bitcoin Market Currently in ‘Fear' But Don’t Try to Predict What’s Gonna Happen Next

Bitcoin will do what bitcoin does. And if anyone tries to bet on the digital currency’s next move, it will prove you wrong. We have seen...

Fed Reserve of Philadelphia Research: Account-Based CBDCs May Replace Commercial Banks

A research paper published on June 1, 2020, by the Federal Reserve of Philadelphia shows account-based central bank digital currency (CBDC) could potentially replace...

US Federal Bank Regulator (OCC) Issues Notice for Feedback on Crypto and DLT Activity

The Office of the Comptroller of Currency (OCC) has asked for feedback in matters crypto and distributed ledgers according to two notices published on...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today