Could a Futures Contract Be Used to Speculate on the Success or Failure of a Coin Due to Confirmation Risk?
Yes, a futures contract could be used to speculate. A trader expecting a coin to fail due to repeated 51% attacks and high confirmation risk could short the coin's futures contract.
Conversely, a trader confident in the exchange's mitigation measures might long the futures contract, expecting the price to stabilize. The futures price would reflect the market's collective assessment of the coin's future viability and risk.