Kraken acquires London based Crypto Facilities

If you like what you read, feel free to share it:

On February 4th, Kraken, one of the most popular and secure exchanges in the crypto market, announced that they acquired Crypto Facilities. In a deal worth about nine-figures, Crypto Facilities is a London based regulated crypto trading platform which provides spot and futures trading. 

A pioneer in the industry meets a professional team

Crypto Facilities

Founded in 2014, Crypto Facilities is registered with the U.K. Financial Conduct Authority (FCA), and the deal was approved by the regulator. Crypto Facilities offer individuals and institutions transparent and secure 24/7 trading on a range of crypto derivatives. The service allows to operate with Bitcoin, Bitcoin Cash, Ethereum, Ripple and Litecoin. Crypto Facilities also is the number one cryptocurrency index provider. It calculates the CME CF Bitcoin reference Rate for CME Group’s Bitcoin futures.

Kraken

Founded in 2011, it is a European based exchange, with headquarters in San Francisco, that offers multiple fiat-to-crypto pairs. It is the largest Bitcoin in euro volume and liquidity. Margin trading is also available for specific trading pairs Kraken also requires users to create two factor authentication and PGP/GPG signing encryption for advanced security. Trusted by more than 4 million clients in over 190 countries, including professionals, institutions and authorities, Kraken delivers seamless trading in 20 digital assets and 70+ currency pairs, and offers the industry’s most popular advanced charting, trading and portfolio tracking tools through Cryptowatch.

The deal allows Kraken to offer Futures market within Europe.

“We are excited to introduce eligible clients to these industry leading futures and index products. Over the coming months, our teams will continue to enhance and expand these offerings. We’ve got great stuff in store for traders and institutional clients in 2019,”

says Kraken CEO Jesse Powell.


Additionaly, the acquisition of Crypto Facilities reinforces Kraken’s commitment to meeting client demand for innovative products and services. Eligible Kraken clients will gain access to futures on six cryptocurrency pairs, providing a highly efficient way to trade and hedge cryptocurrency in any market environment.

This huge deal has been the largest deal Kraken has had, not to mention the cryptocurrency space as a whole. This could be the largest deal ever made. Also, their developer count increased massively, says Jesse Powel: “The deal brings our total developer team to over 100, and will accelerate Crypto Facilities by enabling us to add more assets. We plan to launch more contracts in the medium-term and Kraken also has plans to launch more assets.”

Also, since February 4th, Kraken daily volume has increased by approximately $11 million, going from $32 million to $43 million. 

Source:

https://www.coingecko.com/en/exchanges/kraken
https://www.coindesk.com/crypto-kraken-acquires-crypto-facilities
https://blog.kraken.com/post/2089/kraken-acquires-crypto-derivatives-trading-platform-and-index-provider-crypto-facilities-in-nine-figure-deal-official-press-release/

NASDAQ will launch Bitcoin futures in 2019

If you like what you read, feel free to share it:

By recent reports, NASDAQ, in partnership with an investment firm VanEck, is about to launch their first Bitcoin futures contracts. An exact date hasn’t yet been set, but NASDAQ has announced that it’s going to be the first quarter of 2019. 

These are not the first active Bitcoin futures. The CFTC (Commodity Futures Trading Commision) which regulates Bitcoin as a commodity, has already approved two crypto futures products before: one is CBOE (Chicago Board Options Exchange) bitcoin futures and the second is CME (Chicago Mercantile Exchange) bitcoin futures. Interestingly enough, both are from Chicago. CBOE bitcoin futures launched exactly one year ago. So it is safe to say that New York will be the second Bitcoin futures city.

The quarter of Bitcoin Futures

2019 Q1 is going to be filled with new Bitcoin derivatives as NASDAQ is not the only exchange which plans to launch a bitcoin futures contract. The ICE (Intercontinental Exchange) is planning to launch a bitcoin futures contract as well during Q1 2019. Besides, Bakkt which is a cryptocurrency exchange built by ICE also plans to start their Bitcoin Futures market on January 24. Originally it was scheduled on December 12, but got delayed.

It looks like the first quarter will bring much good news to institutional investors.

VanEck takes charge

VanEck is planning to launch multiple bitcoin derivatives including the already mentioned “bitcoin futures 2.0”. These products are going to be “transparent, regulated and surveilled digital” assets according to Gabor Gubracs, the director of digital asset strategy of VanEck. The company also has applied to the SEC (Securities and Exchange Commission) for approval for a Bitcoin ETF. The SEC has already turned down multiple applications because the application didn’t adequately demonstrate how they are going to fight fraud and manipulation.

“We are the closest that we can be. It is very clear to me that America wants a bitcoin ETF and we are here to build it.” Gabor Gurbacs optimistically told Fox Business.

Market insight

Could these be the news the cryptocurrency cult is waiting for? Could we see a bullish Bitcoin at the end of January 2019? Those are just speculative questions, as the real outcome, we’ll see only when it happens. Today Bitcoin continues to drop another -4% along with other altcoins. Very few coins in the top 100 are performing green. Binance coin performed well today as of new DEX UX announcements but now has leveled out. During the first half of the day it quickly jumped +10% to $6,48, but now has leveled out to $6,02. Bitcoin Cash is probably the worst performer in the past days as it has lost more than -25%. 

Source:

https://goo.gl/wQc2Sv
https://goo.gl/L6pnnY

Photo by David McBee from Pexels

Happy Birthday, Bitcoin!

If you like what you read, feel free to share it:

Ten years ago the Bitcoin white-paper, also called as “Bitcoin: A Peer-to-Peer Electronic Cash System” was first published. It was posted by an anonymous pseudonym Satoshi Nakamoto on October 31st, 2008. To this day people are still exchanging opinions on what, who or they are. Some speculate that he could be British because of the Japanese-like pseudonym. That is because of his perfect English in his posts. Also, people believe that that might be a group of people rather than just one. Nevertheless, there have been multiple people claiming that they are the real Satoshi Nakamoto. Also, many journalists have tried to find out who the mysterious creator of Bitcoin is, but all evidence is circumstantial. 

What is Bitcoin?

Bitcoin along with Satoshi Nakamoto presented an entirely new alternative to the traditionally centralized currency transactions. A system built by the people for the people. So the primary intent is that people are the ones, who control it. Because of blockchain technology, Bitcoin can offer a completely transparent way to transact payments. This system can entirely question the need or importance of Banks and other similar money transfer institutions. It ultimately allows sending money from one peer to another (peer-to-peer). Thus getting rid of the third-party instances such as Banks.

How Bitcoin has performed over the years.

The first data on Bitcoins’ (BTC) price goes back to July 7th, 2010, when the price was $0.05. So the first bull-run took it to $18.89 in May 29th, 2011. Then it went in a bear market for almost a year, cutting the price back to around $5. After that, a year of a slow bull market sent the price to $14, and at the beginning of 2013, it exploded to $142. Not long after, it surged its way to the first four-digit price – $1,205 in 2013 November. Then BTC went in on a two-year-long bear market lowering the rate to $228.50 in August 2015.

The biggest bull-run in Bitcoin history

After that, a three-year-long bull market began. The price completely exploded and reached unbelievable heights. The cost of one BTC was $19,000! In some exchanges, it reached even $20,000! Thanks to this bull market, lots and lots of people found out about Bitcoin. Media was covering it every day. CNBC was talking about how to buy Bitcoin and encouraging everyone on it. Everyone wanted to own a Bitcoin, which, preferably, he or she had purchased in 2013. During December 2017, it almost felt like Bitcoin is the only thing what interests people. The market was booming, new projects were coming out every two hours, and it felt like – this is it! Bitcoin has gained the needed attention – now we have to start using it.

The problems

Along with massive popularity, came the networks’ usage problems. Bitcoin transaction fees skyrocketed and reached a shocking $37 per transaction in December 21st. That meant that small payments via BTC couldn’t be transacted. Since then the hype around Bitcoin has settled. Small payments now can be made through LightningNetwork – Bitcoins’ off-chain solution for micro-transactions. However now, the transaction fees are as low as $0,01.

The Future

Today Bitcoin is accepted in a total of 13,435 venues across the world. The most active areas being Europe and North America. The multiple payment cards and apps give us the possibility to spend our cryptocurrency as we want. You can buy cars, houses, boats, coffee, pay for rent, mobile services, and mainly use it as money, which it is. Just recently, during the Baltic HoneyBadger Bitcoin conference, The B Foundation was announced, which is an organization through which people will have the opportunity to finance Bitcoin.

Also, Bitcoin soon could enter the traditional equity markets. Intercontinental Exchange (ICE) has launched a company called Bakkt, which will present Bitcoin Futures markets on December 12th, 2018. Also, the SEC (Securities and Exchange Commission) soon will review the multiple Bitcoin ETF (Exchange Traded Fund) applications. These two milestones are rumored to bring huge funds coming into Bitcoin, which could eventually increase the price.

However, are we all in this just for the money? Alternatively, are we in for the technological and financial revolution? How long will it take for Bitcoin to reach mass adoption, and, in general – will it be Bitcoin?

You can read the original .pdf file of the Bitcoin White-Paper HERE.

Source:

https://goo.gl/dNx2Np
https://goo.gl/WsvvCY
https://goo.gl/hAV6Pi
https://bitcoinfees.info
https://coinmap.org

Photo by Canva.com

Bakkt sets launch date for Bitcoin future trading!

If you like what you read, feel free to share it:

12th December is the date when Bakkt Bitcoin Futures trading is set to launch.

Bakkt is an open-source global investing platform which wants to make the access, trading, and use of digital assets much more comfortable and faster for users. Their parent company ICE (Intercontinental Exchange) which is the owner of NYSE (New York Stock Exchange), just recently revealed that the Bakkt Bitcoin daily futures contracts would begin trading on December 12th. The official announcement, published on October 22, says: “The Bakkt Bitcoin (USD) Daily Futures Contract is a physically-settled daily futures contract for bitcoin held in Bakkt LLC, ICE’s Digital Asset Warehouse, and will be cleared by ICE Clear US, Inc.” Further explaining that “Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in U.S. dollar terms. One daily contract will be listed for trading each Exchange Business Day.”

These are generally good news for crypto investors, as a lot can change from this point on.

First of all, the SEC (Securities and Exchange Commission) might change their position on this market about Bitcoin ETF approvals, as they base their opinion on the fact that the BTC futures market is not sufficiently liquid. Bakkt might change that.

Secondly, the entrance of Bakkt might substantially increase the movement of the market in a good way, as a lot of Bakkt clients now would be able to invest in Bitcoin.

Thirdly, Bakkt is planning to provide all sort of solutions for crypto investors. The company’s CEO Kelly Loeffler said that Bakkt is looking into providing solutions for buying, selling, storing and spending digital assets – all in a decentralized ecosystem. Also, Jeffrey C. Sprecher, the Founder, Chairman and CEO of ICE said: “In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets.”

However, as expected from last years predictions, this is the year when the crypto market class is seeing a notable recognition. It is becoming more and more regulated, and large commissions and organizations are looking up to it. The only thing I’m not sure about is how a company of such scale and power can provide a decentralized platform for crypto operations.

Are all these regulations, ETFs and futures markets going to be good for the industry? Sometimes it feels like we are capable of everything to see a little bull-run. What are your thoughts?

Source:

https://goo.gl/u5rhGD
https://goo.gl/vk4gGD – The Official Announcement.
https://goo.gl/pQATS3

Photo by Canva.com

Breaking news: ICE to launch physically settled Bitcoin Futures

If you like what you read, feel free to share it:

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), has announced that will list a physically-settled bitcoin futures contracts and form a new company Bakkt, whose mission is to make bitcoin a mainstream financial asset. 

Bakkt has been developed in partnership with a variety of big name companies like Microsoft, Starbucks and BCG. Bakkt will integrate with the ICE’s U.S. futures market and clearinghouse to list a physically-settled one-day bitcoin futures-product, complete with physical warehousing managed in-house by ICE. This product will launch in November, pending regulatory approval.

“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security and utility. We are collaborating to build an open platform that helps unlock the transformative potential of digital assets across global markets and commerce”, said Kelly Loeffler, CEO of Bakkt.

“In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets,” said Jeffrey C. Sprecher, founder, chairman, and CEO of Intercontinental Exchange.

These are big news for Bitcoin believers, because we could be seeing a more mainstream version of BTC in the very near future. A BTC with which you can save up your retirement fund or even use for retail. This year couldn’t get more exciting!

Source:

https://goo.gl/mwCJRp

https://goo.gl/M16sA7

Photo by Wikimedia Commons