This means that customers with a balance of $100 will be able to trade with a staggering $12,500 on Bitcoin futures markets.
The decision to increase leverage came alongside a disclaimer stating that “buying, selling, holding and partaking in futures trading of cryptocurrencies are activities that are subject to high market risk”.
— Binance (@binance) October 18, 2019
Aside from launching a futures exchange, Binance has also opened operations in the United States in recent months, although trade volume has been significantly lower than expected.
Binance CEO Changpeng ‘CZ’ Zhao found himself at the end of abusive comments from Bitcoin SV head honcho Craig Wright earlier this week.
Wright claimed that CZ was acting illegally and that he would eventually end up in prison, despite lacking proof for his accusations.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.