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Former head of trading at major cryptocurrency exchange Binance has joined rival crypto exchange CoinFlex as chief strategy officer.
Leslie Tam, former head of trading at major cryptocurrency exchange Binance, has joined cryptocurrency derivatives exchange CoinFlex as its new chief strategy officer.
On Dec. 16, the Block reported that former Binance executive Leslie Tam is looking to expand his professional horizons at cryptocurrency exchange CoinFlex, where he will explore new possibilities for the company to expand its services. Tam told Cointelegraph:
"Here at CoinFLEX we will strive to create a fun experience for traders as well as innovative offerings for different users of our services. Bracket order competitions are a first step and represent a unique way to trade in a less volatile market."
Leslie Tam previously oversaw the over-the-counter (OTC) trading operations for Binance, one of the worldâs largest cryptocurrency exchanges, where he held an executive position as lead of the VIP coverage and head of trading.
Cointelegraph contacted CoinFlex regarding Tamâs new position but had yet to receive a response as of press time. This article will be updated if new comments come in.
CoinFlex offers âprediction futuresâ on whether Libra launches in 2020
In October, Tamâs new employer launched physically delivered futures contracts that will be settled based on whether Facebookâs Libra launches in 2020. CoinFlexâs âinitial futures openingâ (IFO) reportedly sets the price of a futures contract at 30 cents, reflecting a roughly 30% likelihood that Libra will launch by December 2020. The exchangeâs CEO Mark Lamb said at the time:
âFacebook has the ability to rival the entire global banking system from day one, but, because of that fact, when that first day will be is far from certain. The political backlash has been brutal, and itâs anyoneâs guess if Facebook will get this over the line.â
In August, the company received $10 million for Bitcoin (BTC) futures settlements through a funding round from Bitcoin Cash (BCH) advocate and Bitcoin.com CEO Roger Ver, as well as Polychain Capital, NGC Ventures and Divergence Digital Currency.
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