This means a Binance account holder with a balance of $1 million who wants protection may buy a put option with a six-month expiry for an estimated price of $27,000-$33,000 paid upfront given the monthly rates. If the firm files for bankruptcy within the contract term, the seller would be obligated to buy the account holder’s valid bankruptcy claim at the full $1 million price.

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• Source: https://www.coindesk.com/markets/2023/02/01/crypto-investors-can-purchase-bankruptcy-put-options-to-protect-funds-on-binance-coinbase-kraken/?utm_medium=referral&utm_source=rss&utm_campaign=headlines