Largest Crypto Exchange Deribit Launches Bitcoin and Ether Options for US Election Bets

Crypto derivatives exchange Deribit, the largest cryptocurrency options exchange, is launching Bitcoin and Ether options that allow investors to place bets on the outcome of the US presidential election.

Crypto derivatives exchange Deribit is launching Bitcoin and Ether options that will allow investors to place bets on the outcome of the US presidential election, according to a DeepNewz report on Monday.

The new options will have an expiry date of 8 November 2024, which is ahead of the regular introduction timing. This early introduction aims to enable clients to position themselves effectively for the upcoming 5 November US presidential election.

Deribit is the largest cryptocurrency options exchange with an open interest of over $1 billion. The exchange was founded in 2018 and is headquartered in the Netherlands.

The US presidential election is set to take place on 5 November 2024. The candidates for the presidency have not yet been officially announced, but several potential candidates have already begun their campaigns.

This news comes as the cryptocurrency market has seen a significant rally in recent weeks, with the total market capitalization increasing by over $200 billion.

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