ErisX goes all hands on deck to launch a Bitcoin Futures market

ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market. ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims […]
The post ErisX goes all hands on deck to launch a Bitcoin Futures market appeared first on AMBCrypto.
Source: AMB Crypto

CFTC Lets LedgerX Settle Futures in Actual Bitcoin

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CFTC Lets LedgerX Settle Futures in Actual Bitcoin
The Commodity Futures Trading Commission (CFTC) cleared Bitcoin derivatives provider LedgerX to offer physically settled BTC futures contracts to institutional and retail customers.
CFTC Lets LedgerX Settle Futures in Actual Bitcoin

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Source: CoinSpeaker

Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month

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Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month
As ICE Futures Exchange opens its Bitcoin Futures interest, CME concurrently soars in what appears to be a four day all-time high in a row.
Belated ICE-backed Bakkt Bitcoin Futures Beta-Testing Launches in Less than a Month

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Source: CoinSpeaker

Bitcoin Price Surges Above $11,300 Looking for More Upside Ahead

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Bitcoin Price Surges Above $11,300 Looking for More Upside Ahead
Bitcoin breaches another important milestone extending its gains above $11,300 levels. With this, Bitcoin has rallied over 20% in just last one week.
Bitcoin Price Surges Above $11,300 Looking for More Upside Ahead

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Source: CoinSpeaker

Bitcoin Price Could Hit $62K This October, Says Analyst

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Bitcoin Price Could Hit $62K This October, Says Analyst
Here’s how the analysts are predicting higher targets for Bitcoin price based on the strengthening technical charts, growing fundamentals, and higher institutional participation.
Bitcoin Price Could Hit $62K This October, Says Analyst

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Source: CoinSpeaker

ICE’s Crypto Startup Bakkt Acquires Digital Asset Custodian, Join Hands With BNY Mellon

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ICE’s Crypto Startup Bakkt Acquires Digital Asset Custodian, Join Hands With BNY Mellon
Bakkt latest acquisition of DACC is viewed as an attempt to push forward its regulatory approval of a crypto custodian. Bakkt has also collaborated with banking firm BNY Mellon to securely distribute private keys.
ICE’s Crypto Startup Bakkt Acquires Digital Asset Custodian, Join Hands With BNY Mellon

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Source: CoinSpeaker

ICE’s Bakkt Seeking for NYDFS in a Bid to Finally Get Regulatory Approval

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ICE’s Bakkt Seeking for NYDFS in a Bid to Finally Get Regulatory Approval
Bakkt’s application with the NYDFS is seen as a possible gateway to get regulatory approval from the CFTC.
ICE’s Bakkt Seeking for NYDFS in a Bid to Finally Get Regulatory Approval

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Source: CoinSpeaker

VC Firms are Pouring Huge Money in Crypto Starups, Coinbase Unveils 2018 Earning

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VC Firms are Pouring Huge Money in Crypto Starups, Coinbase Unveils 2018 Earning
The latest Reuters report suggests that big organizations are investing heavily in startups developing protocols and services for the crypto and blockchain sector.
VC Firms are Pouring Huge Money in Crypto Starups, Coinbase Unveils 2018 Earning

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Source: CoinSpeaker

Bitcoin based Bakkt Platform Moves to Acquire Bitlicense in New York: Bloomberg Report

Intercontinental Exchange Inc., the parent company of the New York Stock Exchange (NYSE), had announced the Bakkt Platform which was supposed to be launched in December 2018. However, due to delay in regulatory approval from the Commodity Futures Trading Commission (CFTC) in the US, the launch has been delayed ever since.
Bakkt platform is a revolutionary product built on Bitcoin. It would provide Bitcoin futures contract which would be settled in Bitcoin instead of the US dollar. When Bakkt’s one-day contracts expire, they will be paid out in Bitcoin tokens instead of U.S. dollars. Hence, the biggest concern of the approving authority is custody and money laundering.
Kelly Loeffler, the CEO of Bakkt platform noted in her recent blog post that:
“New product launches require solving for unknown variables, and I’ve seen first-hand that addressing these challenges can help clear the path for healthy, long-term growth.”
ICE Move to New York Department of State Financial Services (NYDFS)
Bloomberg reported from its sources that the other significant roadblock is that traditionally to offer derivatives trading the clearinghouse or platforms must deposit the margin or initial amount from the customer in a bank. Hence, CFTC is concerned over how the and where the funds would be managed if they are Bitcoins.
Moreover, this involves custody of Bitcoin on two levels, one for the clearinghouse to settle the transactions and for the trade orders of Bitcoin Futures.
Reportedly, the owner of ICE has suggested procuring a BitLicense from the State authority to allow for custody of Bitcoin. Moreover, the NYDFS has granted a license to several Exchanges and Trusts like Winklevoss’s Gemini Trust, brokerage firm Tagomi and Bitstamp, a crypto-FIAT exchange. However, Bakkt platform is an application based request for custody; i.e., the bitcoins will not be traded as it is, but other derivative products and payment modules will be built on it.
The approval from the State authority would not confirm the launch of Bakkt platform as the ultimate deciding authority would still be CFTC for Bakkt to launch Futures contracts, and other applications based on Bitcoin. Moreover, initially, it might be made available only to institutional ‘high-volume’ investors.
Furthermore, Bakkt also aims to enable retail payments to popular brands like Starbucks; the Bakkt platform would provide for conversion of Bitcoin to FIAT instantly to make payments.
Will Bakkt platform aims to offer a plethora of applications on Bitcoin. Do you think it will successfully launch any time soon? Please share your views with us.  

The post Bitcoin based Bakkt Platform Moves to Acquire Bitlicense in New York: Bloomberg Report appeared first on Coingape.
Source: CoinGape

U.S. SEC Delays Its Decision on Bitwise and VanEck Bitcoin ETF Application to May

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U.S. SEC Delays Its Decision on Bitwise and VanEck Bitcoin ETF Application to May
The U.S. securities regulator continues to remain firm on its decision of not approving the Bitcoin ETF anytime soon. Next window for ETF decision now in May 2019.
U.S. SEC Delays Its Decision on Bitwise and VanEck Bitcoin ETF Application to May

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Source: CoinSpeaker

Bakkt’s Post-Money Valuation Stands At $740 Million Even Before Launch

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Bakkt’s Post-Money Valuation Stands At $740 Million Even Before Launch
Despite several delays in its launch, Bakkt’s valuation currently stands at $740 million with major financial institutions holding their stake in the platform.
Bakkt’s Post-Money Valuation Stands At $740 Million Even Before Launch

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Source: CoinSpeaker

Bakkt’s Parent Intercontinental Exchange Lists 58 New Crypto Tokens to Its Data Feed

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Bakkt’s Parent Intercontinental Exchange Lists 58 New Crypto Tokens to Its Data Feed
The ICE’s Data Services will provide real-time and historical data for all the newly added crypto tokens.
Bakkt’s Parent Intercontinental Exchange Lists 58 New Crypto Tokens to Its Data Feed

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Source: CoinSpeaker

Mike Novogratz: Another BTC Value Surge is About to Happen

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Mike Novogratz: Another BTC Value Surge is About to Happen
As Bitcoin (BTC) is clinging on to its $4,000 price tag, major crypto figures are betting big on a potential bull run. However, it doesn’t necessarily mean that cryptocurrency investors should get too carried away by the recent price uptick.
Mike Novogratz: Another BTC Value Surge is About to Happen

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Source: CoinSpeaker

Bakkt: Starbucks receives disproportionate amount of shares in platform following deal

Owing to a new deal, Starbucks received a “disproportionate” amount of shares in Bakkt. The deal between the two comes in the middle of Bakkt’s launch that was awaited by a lot of institutional players in the United States.
According to The Block, a spokesperson close to the deal said, “There’s a high value from having a brand of this level” and that this was not surprising due to the support Starbucks gave Bakkt. The Seattle-based coffee company secured a “mutually beneficial” agreement which provides it with a huge stake in Bakkt.
Starbucks accepts payments through cryptocurrencies via Bakkt’s software that converts crypto-to-fiat. Currently, this service will only be available to customers in the US. However, there was no information regarding their future plans or Starbucks’ global expansion of the service.
Starbucks announced its partnership with Intercontinental Exchange, Microsoft, and BCG on August 3, 2018. Additionally, this would users to buy anything at Starbucks using cryptocurrencies and Bakkt’s software.
Starbucks’ Maria Smith, Vice President of Partnerships said,
“As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks.”
Bakkt’s launch was delayed three times and is now awaiting approval from the CFTC [Center for Commodity and Futures Commission]. The delay in approval was speculated to be due to to the recent U.S Government shutdown.
The post Bakkt: Starbucks receives disproportionate amount of shares in platform following deal appeared first on AMBCrypto.
Source: AMB Crypto

Starbucks Receives Bakkt Equity to Start Accepting Bitcoin Payments in 2019

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Starbucks Receives Bakkt Equity to Start Accepting Bitcoin Payments in 2019

It seems that Starbucks has received a significant portion of equity in Bakkt despite not being a direct cash investor.

Starbucks Receives Bakkt Equity to Start Accepting Bitcoin Payments in 2019

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Source: CoinSpeaker