Michael Saylor

Chess Top 10 to Participate in FTX Tournament

Popular board game and the world’s most famous cryptocurrency, Bitcoin, might have a little in common, but their unlikely marriage is set to happen soon in an FTX Crypto Cup which is set for Sunday. This is when the global top 10 ranked players will come together to play for a record $320,000.

FTX, one of the world’s prominent crypto exchanges, is holding the online event, with over $100,000 in the total prize in Bitcoin. Not only that but Bitcoin’s highly volatile movements will be displayed to the supporters in real-time. 

The world’s number one crypto currency’s volatile nature has already affected the size of the prize amount. Initially, the 2.18 BTC worth $100,000 was purchased when the token was traded at $45,000.

A day earlier, following the criticism from Tesla’s CEO Elon Musk, the crypto asset plunged to the $30,000- the lowest in more than three months. However, later on, Thursday, the virtual currency managed to regain the $40,000 mark. BTC value would matter on the last date of this month when the online FTX tournament is set to end. 

Magnus Carlsen, the current world’s number one, who boasts an impressive rating, will also participate in the competition. For him, the event presents a unique opportunity, with the world’s top ten also participating in the tournament. Previously, in 2009, Carlsen won at Pearl Spring with a 3002 rating.

The world’s top player is currently in good form following his win in the New in Chess Classic. Now, Carlsen is optimistic about creating a special place for himself in the global online tournaments.

On Sunday, the world champion is set to compete against Azerbaijan’s Shak Mamedyarov in round one. Later, he is set to compete with the challenger for this year’s title, Ian Nepomniachtchi. The fans would be allowed to view the game online for free, with grandmaster live in action on chess24.com. 

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