Rejected: Binance Launches Ethereum Futures Platform with up to 50x Leverage

On Nov. 29, Binance, the world's largest cryptocurrency exchange platform announced the introduction of Ethereum (ETH) futures contracts. This new platform will allow users to bet either in favor of or against the future price of Ethereum with up to 50 times leverage, granting them a huge opportunity to make more money with high volatility risks.

On the futures platform, Ethereum (ETH) can be traded against stablecoin Tether (USDT), the announcement noted. In addition, Binance users can get a 50% discount on their trades, not only for the Ethereum futures but across all Binance futures contracts. The exchange noted that the discount would only be available until midnight on Dec. 13, 2019.

Binance issued an explicit risk warning to all its customers stressing that futures trading can be extremely volatile, emphasizing that at 50X leverage any extreme price movements, could force customer trades to be liquidated.