Bloomberg News: Will Libra delay? Facebook skeptics can now bet with crypto-derivative transactions

Facebook’s cryptocurrency program has been overwhelmingly questioned since it was announced in June. On October 7th, an exchange was betting on whether the social media company could be listed on the target date. CoinFLEX, an encryption futures exchange launched earlier this year, is offering derivatives based on the possibility that Libra will be operational by the end of 2020. CoinFLEX is offering physical settlement of futures, and if the so-called stable currency is activated by December 30, 2020 or before the settlement date, it will deliver Libra tokens. If Libra can't operate at the time, then investors will get nothing and lose their initial investment. Currently, the exchange has been included in the less regulated Seychelles, and the so-called initial futures opening transaction, or IFO, is scheduled to take place on October 24. The initial price of Libra Futures will be set at 30 cents, which means that the probability that Libra will be operational in December next year is about 30%.