FTX Traders Double Their Money With Airbnb Price Rise

US-based online home rental platform Airbnb began trading on the Nasdaq last Thursday. The company’s shares rose 120 percent, seeing $ 150 on the first day after the initial public offering, when it was priced at $ 68.

After this increase in value, Airbnb’s market value also saw more than $ 100 billion.

On the other hand, the crypto derivatives exchange FTX began listing its tokenized Airbnb stock on Wednesday, just before it began trading on the Nasdaq. Traders who bought Airbnb on the FTX without going on the Nasdaq have doubled their money. Airbnb tokens opened at $ 60, close to their opening price in an IPO on the FTX, and also traded in the $ 60-80 range for the majority of the day.

Airbnb share price traded on ftx

FTX Chief Executive Sam Bankman-Fired shared news of the listing on Twitter on Wednesday, highlighting that Airbnb was listed on the FTX before Nasdaq.

FTX, the crypto derivatives exchange that Binance also invested in, has recently gained a strong reputation for its innovative work in the field of cryptocurrencies. The Platform listed Facebook and Netflix earlier this year. The stock market’s daily trading volume has been hovering at about $ 2 billion in recent days.

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