Stocktwits to launch crypto derivatives trading in partnership with FTX

Social trading platform Stocktwits has announced the addition of the ability to trade crypto derivatives to the iOS app. The initiative is being implemented through a partnership with FTX US.

According to the WSJ, fees will be similar to those charged on FTX US. In December 2021, Alameda Research, affiliated with platform founder Sam Bankman-Freed, participated in a $30 million Stocktwits investment round.

In the second quarter of 2022, Stocktwits plans to expand the functionality to trading stocks with a listing in the United States.

About 6 million users have registered on the platform, many of whom are interested in digital assets. The new option will allow you to make trading operations and broadcast them from your profile.

In February 2021, Stocktwits, along with members of the r/WallStreetBets subreddit, rose to prominence for their key role in organizing the GameStop stock shortsqueeze.

By integrating crypto derivatives trading, Stocktwits will support AMC and GameStop initiatives in the crypto space. The shares of these companies were at the epicenter of the “crowd against hedge funds” campaign.

Recall that in January, ForkLog reported on GameStop’s plans to launch an NFT marketplace.

In December 2021, the chain of stores for sale of game consoles and computer games resumed accepting cryptocurrency payments.

In November 2021, the AMC Theaters cinema chain began accepting Bitcoin, Ethereum, Bitcoin Cash and Litecoin as a means of online payment. 

Prior to this, its CEO, Adam Aron, announced that he was considering creating his own token.

Earlier, the US division of FTX closed a $400 million Series A funding round at a $8 billion valuation.

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