Tag: Cryptocurrency

Cryptocurrency

Could Bitcoin Futures Spell Trouble for Spot Market?

At the moment it seems as though literally half the people that I’m speaking to just want to talk about bitcoin, while the other half just want to complain that no one wants to talk about anything except bitcoin.

But all  this hype actually could cause problems for bitcoin going forward. For one thing, speaking to the exchanges and other mainstream financial services firms about why they’re launching bitcoin products, the answer is invariably some version of “well there’s tons of client demand for exposure to bitcoin”.

Bitcoin: The Next Step

As the cryptocurrency, bitcoin, takes arguably the next big step towards mainstream adoption, Galen Stops takes a look at the different approaches being taken by regulated exchanges towards designing bitcoin contracts and regulators to overseeing them.

Last week, on December 1, three exchanges regulated by the Commodity Futures Trading Commission (CFTC) self-certified new cash-settled derivatives contracts based on bitcoin.

The exchanges – or designated contract markets (DCMs) – are the CME, the CBOE Futures Exchange (CFE) and the Cantor Exchange.

Bitcoin Breaks the $10,000 Mark

The value of bitcoin (BTC) soared to over $10,000 today, a 900% increase in value from the start of the year.

Despite significant price dips in July, September and November, bitcoin has been on a consistent and stark upward trend since January, when it was valued at $1,000 per bitcoin.

“Bitcoin has sailed past a number of surprising milestones this year, with the $10,000-mark achieved today the most significant so far. With its rising valuation built on the bitcoin buzz more than real worth, it’s likely that we won’t see bitcoin decline in value until it’s more widely accepted,” says Dennis de Jong, managing director at UFX.com.

Cryptocurrency Firm Taps FX Expertise for Advisory Board

Cryptocurrency liquidity provider B2C2 has announced the appointment of Peter Nielsen, Ruth Wandhöfer and Phil Weisberg to its advisory board.
Nielsen was previously CEO of markets in the investment bank at RBS. Prior to RBS, he spent 10 years at Bank of America and Citibank in their FX businesses. Weisberg founded FXall and became global head of Thomson Reuters FX business when the company bought FXall – while Wandhöfer is a regulatory and fintech expert. Managing director and global head of regulatory and market strategy at Citi.