Several online brokerages around the world appear to have blocked retail investors from opening or closing positions in GameStop (GME), a failing US video games retailer. The price of Gamestop stocks was only $18.84 at the end of 2020 but exploded $365 yesterday, thanks to joint effort from the folks at r/wallstreetbets against short sellers on Wall Street.
The decentralised crypto derivatives exchange FTX has come up with a workaround for accessing the asset by listing it as a tokenized stock on their platform for spot and futures trading. FTX has previously listed large-caps like Airbnb, Tesla, Facebook and other stocks on its platform as well well. Besides GME, FTX also offers BB, AMC, and NOK synthetic assets. FTX is currently the 7th largest derivatives exchange, according to Coinmarketcap.
FTX is not available in the U.S. and other restricted jurisdictions.
You can sign up to FTX here and receive a 5.00% fee discount on all trades.
Disclaimer: This article does not constitute investment advice, nor does it recommend investors to buy or sell particular stocks, securities or other tradable products. Cryptocurrencies are speculative and highly volatile instruments that are not appropriate for all investors. It is possible to lose all your invested capital. Past performance is not an indication of future results. Make sure you understand the risks involved and seek professional advice if necessary.