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Cryptocurrency News

Traders can now “bet” against Libra going live

Facebook’s Libra has unquestionably been the biggest story in the crypto world this year. Surrounded by controversy and never far from the headlines. With PayPal withdrawing from the Libra association, the questions now whether the likes of Mastercard will follow suit. The amount of negative press that Libra has received from prominent figures over Libra are now putting the entire project under extreme scrutiny.

With the lack of regulatory confirmation and transparency from Facebook a significant concern for partners and potential users, its actual launch has now come under the microscope. The scheduled date of release was “early 2020”, with this now being pushed back to later in the year.

To make this a little more interesting, derivatives exchange CoinFLEX are offering traders to “bet” whether or not Libra will launch before the end of 2020. The Libra Initial Futures Offering (IFO) which is a physically settled product, gives traders the change to essentially bet on whether or not the project will go live, before the settlement date of Dec 30th 2020. With the Futures set at $0.30 currently, giving the project at 30% current chance of success. Should the project go live before the settlement date, traders who had faith in the project amidst the uncertainty will be settled in Libra tokens.

Image licensed via Shutterstock

 

 

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