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Ex-FTX US Chief Brett Harrison Launches AX Trading Platform
Yahoo Finance· 2025-10-30 00:13
Core Insights - Brett Harrison, former president of FTX US, has launched Architect Financial Technologies and a regulated exchange called AX, aiming to integrate crypto-style perpetual futures into traditional finance [1][2] - AX will offer perpetual futures for various asset classes including stocks, currencies, commodities, and interest rates, allowing for continuous trading [2][3] - The platform is based in Bermuda and operates under the supervision of the Bermuda Monetary Authority, providing a regulatory framework for perpetual futures [4] Company Overview - AX is designed to allow traders to use either fiat or dollar-pegged stablecoins as collateral, promoting 24/7 trading access across different asset classes [3] - The platform is currently raising a Series A funding round with notable investors such as Coinbase Ventures, Circle Ventures, and the SALT Fund, indicating strong market confidence [5] Industry Impact - The introduction of perpetual contracts for traditional assets by AX could significantly change the landscape of derivatives trading, merging crypto markets with traditional finance [6] - There is a growing demand for fast and flexible trading tools, suggesting that the market is ready for such innovations [7] Challenges and Considerations - AX faces challenges in attracting sufficient trading volume, establishing risk controls, and addressing technical issues related to continuous trading [8] - The regulatory environment in the US poses additional hurdles for AX's potential market entry [8]
Who Is James Wynn? High-Stakes Leverage Trader Predicts Bitcoin Crash to $67K
Yahoo Finance· 2025-10-20 11:02
Core Insights - James Wynn, a prominent crypto trader known for high-risk leverage trades, has returned to trading perpetual futures after previously announcing his retirement following significant losses [1][4][6] - Wynn's trading history includes turning a $7,600 investment in PEPE into $25 million in 2023, and later accumulating $87 million in profit through bold leverage bets before facing a downturn in the market [2][3] - As of October 15, Wynn deposited approximately $197,000 USDC on Hyperliquid and opened long positions with leverage ranging from 10x to 40x on Bitcoin, Ethereum, and PEPE [1][4][6] Trading History - Wynn gained notoriety in 2023 by transforming a modest investment into a substantial profit, which led to a significant following on social media platforms [2] - His trading on Hyperliquid began in March 2025, where he initially profited greatly but ultimately faced a series of liquidations that resulted in $13 million in losses [3][4] - Despite his previous losses, Wynn has resumed trading with high-leverage positions, indicating a strong willingness to re-engage in the high-stakes trading environment [4][6] Current Trading Activity - On October 15, Wynn announced his comeback to trading, stating he was "back with a vengeance" and quickly opened positions worth $3.8 million in Bitcoin with 40x leverage [4] - Other positions included long contracts on Ethereum and PEPE with leverage of 25x and 10x, respectively, although all three positions were currently in the red [5]
X @Wu Blockchain
Wu Blockchain· 2025-10-08 16:23
Coinbase will launch perpetual futures for Somnia (SOMI) and 0G (0G) on October 9, 2025, with trading set to open on or after 9:30 AM UTC. Spot trading for Linea (LINEA), Noice (NOICE), and Syndicate (SYND) will also begin the same day, on or after 9 AM PT, subject to liquidity and regional availability. https://t.co/5ot26ODpQT & https://t.co/NERk8ZH6ez ...