Although there is still no “official” result announced in the presidential elections in the USA, everyone is certain that Donald Trump lost and Joe Biden won. The futures contracts known as TRUMP and BIDEN on the FTX crypto currency exchange were among the most talked about topics in this race. Trump’s loss of $ 11 million to crypto money investors in this race seems to reveal the outcome of the race.
Futures contracts opened specifically for the US presidential election are about to expire. The value of the futures contract, which was opened exclusively for Biden, starts at $ 1, while it is trading at $ 0.993 near the end. The value of his contract opened for Trump fluctuates between $ 0.04 and $ 0.007, which indicates that the related token is almost worthless.
Crypto investors trusting Trump at $ 11.3 million loss
In addition, it is seen that Trump’s, Trump-focused futures contracts, have caused a loss of approximately $ 11.3 million for investors. It is known that starting official duty is 20 January 2021. Although it is certain in unofficial sources that Donald Trump lost the election, the legal process still continues. Trump stressed that he will file a lawsuit, stating that the election was fraudulent, and a change could be seen in the $ 11.3 million loss.
In addition, a new contract named TRUMPFEB launched by FTX also caused serious damage to investors. If Trump can continue his presidency in February 2021, the contract will be due. The value of the token, which was launched last Thursday, was around $ 0.14, but after Biden’s victory announcement, it fell to $ 0.078. It is seen that one of the sectors most affected by this is the cryptocurrency sector and FTX investors.
Bitcoin price also fell sharply after Biden’s victory and the uneasiness in the markets increased.