Former FTX US President Brett Harrison is launching a new venture that brings one of crypto’s most popular — and controversial — trading instruments into traditional finance.
His startup, Architect Financial Technologies, has received approval in Bermuda to offer perpetual futures contracts tied to traditional assets such as stocks, indexes, commodities, foreign currencies and interest rates, Bloomberg reported Wednesday.
Perpetual futures, or “perps,” let traders take leveraged long or short positions without contract expiry. To keep prices aligned with spot markets, exchanges use a funding rate mechanism, a periodic payment between long and short positions that balances demand.
Originally popularized by BitMEX and later by FTX, perps helped drive crypto’s…more
Source cointelegraph.com
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