Coinbase crowns first champion at $150,000 Singapore trading competition
Coinbase hosts its first live-streamed trading tournament
Coinbase streamed a ten-trader competition from Singapore on Oct. 8, offering $150,000 to the trader crowned Coinbase Champion. The event was billed as an esports-style perpetual-futures tournament.
Perpetual futures are a type of crypto contract that lets traders bet on price moves without owning the underlying asset. The contract has no set expiration date, so positions can be held as long as the trader meets margin requirements.
The broadcast mixed live trading updates with walkouts, jokes, and an invitation for viewers to pick a contestant. Coinbase CEO Brian Armstrong promoted the contest on X as it went live, saying one trader would be crowned champion and win $150,000 within the hour.
Leadership shifted throughout the event
At 6:54 p.m. UTC, the event page listed the trader known as Intern first with $4,263.37 in profit and loss. However, the page did not label him as the final winner or name him champion.
Earlier in the competition, Coinbase said @osf_rekt had moved into first place at 1:32 p.m. UTC. About seven minutes before that, a post said there were 35 minutes remaining to win the prize.
Coinbase identified several contestants through its walkout and introduction posts, including Ansem (@blknoiz06), @izebel_eth, and @intern. Updates also named @Goupenguin, @osf_rekt, and @insomniacxbt. The company joked that @Goupenguin was trading while watching cats, and later said @intern had decided to make memes instead and was backing Jez to win.
Viewers could enter a random drawing for prizes
Coinbase invited eligible viewers to vote for a trader in its app, but only in certain geographies. The official rules describe the promotion as free: no purchase was necessary, and spending or trading would not improve a participant's chance of winning.
Only votes for the winning trader qualified for a random prize drawing. If traders tied for the highest total profit and loss, votes for any tied trader would qualify. The rules called for three voting rounds, with one trader selected per round and up to three votes overall. Entry was limited to eligible app users at least 18 years old and of the age of majority, with jurisdiction and, in some markets, onboarding requirements.
The prize was advertised but the final result is unconfirmed
The event page advertised $150,000 for the trader crowned Coinbase Champion. Intern led the displayed standings late in the event, but Coinbase did not officially announce a final champion or confirm that the prize was awarded.
Why the event matters
Coinbase's move to stream a live trading competition reflects a growing effort by major exchanges to turn crypto trading into a spectator experience. By combining real-time competition with viewer participation, the platform aims to attract new users and deepen engagement with its perpetual-futures product.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.