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It would typically be pretty expensive to option a Stephen King story. But students at the Blaenau Gwent Film Academy in Wales, UK, just optioned one for a single dollar. Alfie Evans, 16, and Cerys Cliff, 14, are adapting “Stationary Bike,” from King’s collection Just After Sunset , into a script,…
Intercontinental Exchange has announced that its Bakkt Bitcoin Daily Futures Contract will start trading on Dec. 12. Each trade “will result in physically delivered bitcoin” and will trade in U.S. dollar terms, the firm explained, adding that one contract will be listed for trading each exchange business day.
Date Set for Bakkt Bitcoin Futures
Intercontinental Exchange Inc. (ICE) announced on Monday that its U.S.-based futures exchange, ICE Futures U.S. Inc., “will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on Wednesday, December 12, 2018.” The firm elaborated:
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.
The firm continued to detail, “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.” ICE Futures U.S. is regulated by the Commodity Futures Trading Commission (CFTC).
ICE operates futures exchanges, OTC market services, central clearing houses, and the NYSE Group. Its central clearing service clears over 6.2 million futures and OTC contracts daily, the company claims.
Bakkt’s Original Plans
According to its 8-K filing with the U.S. Securities and Exchange Commission (SEC), ICE announced on Aug. 3 its plans to form Bakkt, which it described as a new company “with the goal of establishing a global platform for digital assets.” The firm informed the SEC:
Bakkt intends to work with BCG, Microsoft and Starbucks, among others, to create an integrated platform designed to enable consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.
The filing further states that “As an initial component of the Bakkt offering,” ICE plans “to launch a 1-day physically delivered bitcoin contract along with physical warehousing in November 2018, subject to CFTC review and approval.” In preparation for launch, the firm emphasized that it was “in discussions with regulators and in the process of finalizing definitive agreements with select partners.”
Bakkt CEO Kelly Loeffler commented on Thursday:
Bakkt will provide the first federally regulated, physical delivery price discovery contract for the digital currency market.
The CFTC has already approved two other major derivatives exchanges for trading cash-settled bitcoin futures: the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME). The former launched its bitcoin futures product on Dec. 10 and the latter on Dec. 17 last year.
What do you think of Bakkt’s bitcoin futures? Let us know in the comments section below.
Images courtesy of Shutterstock, ICE, and Bakkt.
Need to calculate your bitcoin holdings? Check our tools section.
The post Bakkt Bitcoin Futures to Start Trading in December appeared first on Bitcoin News.
Stocks clawed back much of the ground they lost in an early plunge but still ended lower, continuing a dismal month for the stock market, the AP reports. Major indexes pulled back sharply in early trading Tuesday, wiping nearly 550 points off the Dow Jones Industrial Average. Traders blamed worries…
Another newspaper is out with a serialized crime story : This time, Kevin Grasha and Cameron Knight of the Cincinnati Enquirer present the four-part story of Cody Jackson, who is introduced as, by 2014, having “an eighth-grade education, two children, no job, no permanent home, no plan, and few skills”—at…
Cryptocurrency loans service Nexo has confirmed it is adding support for bitcoin cash (BCH). The Switzerland-based lending platform offers crypto-fiat loans from upwards of $ 1,000, with no credit checks required as collateral. BCH holders will be able to stake their cryptocurrency as collateral and obtain instant funding in more than 40 fiat currencies.
BCH Becomes Nexo’s Sixth Cryptocurrency
Cryptocurrency lending service Nexo has been expanding rapidly. It recently added Ripple’s XRP and has now confirmed support for bitcoin cash and litecoin. These coins will join BTC, ETH, BNB and NEXO, granting cryptocurrency holders the ability to borrow anywhere from $ 1,000 to $ 2 million. Rather than sell their bitcoin cash when they require access to capital, users can lock BCH into the Nexo platform, before retrieving their coins once their loans have been repaid.
Nexo’s cryptocurrency assets are secured by custodial partner Bitgo, which just closed a Series B funding round from investors including Goldman Sachs. Bitgo has attracted a number of institutional clients to its service, as well as cryptocurrency companies such as Kraken and Pantera Capital. Once cryptocurrencies have been placed as collateral with Nexo, customers can obtain instant loans, and will also be entitled to additional credit should the value of their cryptocurrencies appreciate. Nexo boasts of having issued more than $ 1 billion of cryptocurrency loans to date.
Crypto-Fiat Loans Are On the Rise
Cryptocurrency holders today have a plethora of lending options available. On Oct. 19, news.Bitcoin.com reported on Salt adding support for dogecoin, while platforms such as Ethlend and Celsius Network have also been gaining traction. Cryptocurrency loans have a range of applications, including the provision of short-term funding for hedge funds that have invested in cryptos and wish to obtain capital for new investment opportunities. Nexo’s crypto-fiat lending service has also attracted cryptocurrency miners seeking to cover hardware expenses, as well as investors who wish to take out loans to buy more cryptocurrencies in the belief that they will rise in value, so they can profit without selling their existing holdings.
Preliminary results from the poll show strong support for Bitcoin Cash (BCH). Meeting @rogerkver in Tbilisi was a great opportunity to announce the upcoming addition of BCH as a collateral option for Nexo's crypto-backed loans! Check out the interview here https://t.co/4igDQ1q6It https://t.co/mewu2nY3QL
— Nexo (@NexoFinance) September 24, 2018
Nexo’s decision to add bitcoin cash and litecoin appears to have been swayed, in part, by a community vote that indicated strong desire for the coins. The lending platform is currently finalizing BCH wallet integration before its bitcoin cash lending service goes live in a few weeks’ time. Borrowers can obtain credit from 8 percent APR with no minimum loan repayments. Nexo has also completed integration with Coinmarketcap, enabling visitors to the market data site to start the process by clicking the “Get Loan” button alongside cryptocurrencies such as BCH and BTC.
Would you take a fiat loan in exchange for cryptocurrency? Let us know in the comments section below.
Images courtesy of Shutterstock and Nexo.
Need to calculate your bitcoin holdings? Check our tools section.
Cristiano Ronaldo said he was a “happy man” and that the truth will come out about the rape allegation against him, while answering questions Monday at a news conference in Manchester, England.
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Uber Technologies Inc. said Cameron Poetzscher, a longtime executive in charge of corporate deals, has resigned. His departure, which follows allegations of sexual misconduct, leaves another vacancy in Uber’s finance department as the ride-hailing company races toward an initial public offering…
Turkish authorities embraced a strategy to leak evidence slowly in the days after the killing of a dissident journalist as part of an effort to blunt the international standing of rival Saudi Arabia.
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