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Bakkt Rolls Out Cash-Settled Futures And Regulated Bitcoin Options Contracts

Bakkt Rolls Out Cash-Settled Futures And Regulated Bitcoin Options Contracts

Brenda Ngari - December 9, 2019

Bakkt CEO Kelly Loeffler Named As The Next Georgia US Senator

Bakkt CEO Kelly Loeffler Named As The Next Georgia US Senator

Brenda Ngari - December 5, 2019

Tether/Bitfinex Slams Study Claiming They Aided The Lone Whale That Caused The 2017 Bull Run

Why Bakkt Isn’t Bullish For Bitcoin Price Despite The Skyrocketing Futures...

Brenda Ngari - November 28, 2019

Alive and Well: Bitcoin Futures Trading Volume On Bakkt Is Growing Despite Market Downturn

Alive and Well: Bitcoin Futures Trading Volume On Bakkt Is Growing...

Nick James - November 25, 2019

Bakkt says its Mission is to “bring digital assets into the mainstream” Bakkt, the cryptocurrency ecosystem created by Intercontinental Exchange (ICE) is primarily meant to facilitate mainstream adoption, according an update on the Bakkt Twitter page. This according to the update will be achieved by enabling transaction efficiency between consumers and merchants. The cryptocurrency platform launch which was scheduled for January 24 has been postponed due to legal and regulatory reasons. Prior to the recent postponement, the launch had been postponed twice last year, the last schedule being for December 12 2018. Majorly, the delay of the launch is due to the US Government shutdown which failed. Since the launch must be approved by the Commodity Futures Trading Commission (CFTC), it cannot go on until the government systems are back in shape. The launch has been postponed to April 2019 although no precise date has been given. A chinese billionaire by the name of Li had invested in the project in anticipation of the launch, completing the projects first funding round. By the end of 2018, Bakkt had raised up to $180 million. Apart from Li, Bakkt also vrough in institutional investors such as Boston Consulting Group, Microsoft’s venture capital arm M12 and Naspers’ fintech firm. Confirming this, Bakkt CEO Kelly Leoffler said: “Clearing firms and customers have continued to join us as we work toward CFTC approval. We made great progress in December, and we’ll continue to onboard customers as we await the ‘green light’.” The incessant postponements are of concern not just to the cryptocurrency industry but also to ICE as Bakkt was supposed to launch as a new territory for ICE at a time when a formidable competitor, the new exchange MEMX is coming into the futures market, largely to overturn ICE. For the cryptocurrency industry, Bakkt is supposed to encourage mainstream adoption which is expected to drive institutional investors to the industry. With the postponement however, the industry will have to wait until the government gives its approval. The cryptocurrency market had started improving just few days ago but with the recent postponement, there is another dip that just started today. Among the top ten cryptocurrencies, only EOS is in green at the time of writing this article. Bakkt launch will certainly promote the cryptocurrency industry as it also intends to “build the first integrated, institutional grade exchange-traded markets and custody solution for physical delivery of digital assets”, as tweeted earlier today. Will the delay worsen the market condition before it is finally done?

Bakkt Opens Its Doors For Institutional Investors To Access Bitcoin Custody...

Tolu - November 11, 2019

Bakkt Announces The Start Of BTC Custody Services Ahead Of Official Launch On September 23

Bakkt Sets New Trading Volume Record With Over 1,700 Bitcoin Futures...

Brenda Ngari - November 9, 2019

Bakkt Bitcoin Futures Posts Huge Trading Volume - On Track to Break Previous Record

Bakkt Bitcoin Futures Posts Huge Trading Volume – On Track to...

Lorenzo Stroe - November 7, 2019

Bitcoin Futures Trading On Bakkt Sees A Huge Spike As Institutions Want In

Bitcoin Futures Trading On Bakkt Sees A Huge Spike As Institutions...

Nick James - November 3, 2019

Bakkt to Launch App that Allows Users to Buy Starbucks Coffee with Bitcoin

Bakkt to Launch App that Allows Users to Buy Starbucks Coffee...

Ponvang Bulus - October 28, 2019

Bakkt Set To Launch Regulated Bitcoin Options On Its Futures In December

Bakkt Set To Launch Regulated Bitcoin Options On Its Futures In...

Brenda Ngari - October 24, 2019

Bakkt Bitcoin Trading Volume Spikes To New All-Time High Amidst Market Crash

Bakkt Bitcoin Trading Volume Spikes To New All-Time High Amidst Market...

Jide Idowu - October 23, 2019

Bakkt Strives For Major Revival As Bitcoin Trading Volume Sinks Further

Bakkt Strives For Major Revival As Bitcoin Trading Volume Sinks Further

Lorenzo Stroe - October 19, 2019

Bakkt’s Trading Volume Continues To Plummet Weeks After Launch

Bakkt’s Bitcoin Trading Volume Continues To Plummet Weeks After Launch

Tolu - October 15, 2019

Bakkt Announces The Start Of BTC Custody Services Ahead Of Official Launch On September 23

Lost Hope In Bakkt Revived With A 796% Trading Volume Increase...

Jide Idowu - October 10, 2019

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