Bitcoin Futures Exchange Bakkt Hires PayPal, Google Vet as Product Chief

Bitcoin futures exchange Bakkt has hired a PayPal and Google veteran as its new chief product officer. The firm announced Thursday that it had hired Mike Blandina, who at various points in his career served as head of payments and credit engineering at PayPal and director of engineering for Google Wallet. Most recently, Blandina was chief technology officer and head of product and engineering at OneMarket, Bakkt CEO Kelly Loeffler wrote in a blog post. “As our CPO, Mike will lead our efforts to converge a trusted ecosystem for digital…

Bitcoin Cash, Litecoin Futures Volumes Top $150 Million at Kraken Exchange

It’s not just bitcoin futures products that are becoming popular with investors, at least according to one U.K.-based crypto derivatives provider. Crypto Facilities, a subsidiary of the San Francisco-based exchange Kraken that provides bitcoin and ether reference data for CME Group and has offered its own derivatives products for years, has seen trading volume in its altcoin futures markets jump dramatically in recent weeks – in particular, its litecoin and bitcoin cash futures contracts, said head of indices and pricing products Sui Chung. He told CoinDesk that the company had…

CBOE Trashing Bitcoin Futures Signals Crypto Market Bottom: Brian Kelly

Cryptocurrency investor Brian Kelly believes that the decision to drop bitcoin futures by the Chicago Board Options Exchange (CBOE) represents a watershed in the history of bitcoin, signaling that the crypto market’s longest-ever decline has finally found a bottom. BKCM Founder: CBOE Exit Shows Bitcoin Bear Market is ‘Exhausted’ Speaking on Tuesday’s edition of CNBC Fast Money, the BKCM Digital Asset Fund founder and CEO stated that he sees improvement in bitcoin address growth and market sentiment since December 2018 as evidence that the retail end of the bear market…

‘No Change’ to Bitcoin Futures Plans, CME Says, as Cboe Pulls Back

It’s business as usual for CME Group’s bitcoin futures market, despite a retrenchment by rival derivatives exchange operator Cboe Global Markets. Contacted by CoinDesk Friday, a spokesperson for CME said the exchange has “no changes to announce re our bitcoin futures contract” and declined to comment on Cboe’s pullback. The affirmation is notable in light of the news Thursday that Cboe will not add a bitcoin futures contract for trading in March. This means that after the last currently traded futures expire in June, this market will essentially come to…

Futures Trading Nears $1 Billion in First Month at Kraken Crypto Exchange

Cryptocurrency futures provider Crypto Facilities has seen “tremendous growth” since being acquired by U.S.-based crypto exchange Kraken last month, an executive said. Sui Chung, the subsidiary’s head of indices and pricing products, told CoinDesk that trading volume has increased more than 500 percent since Kraken acquired the futures exchange at the beginning of February for $100 million. Crypto Facilities is perhaps best known in the U.S. for providing bitcoin and ether reference rates to CME Group, which lists bitcoin futures contracts. In total, nearly $1 billion in crypto futures has been traded…

Dow Futures Surge 160 Points as Market Races to Rescue Winning Streak

The Dow sits poised to open to massive gains on Friday as the US stock market bellwether races to string together a 10th consecutive weekly increase. The bitcoin price, meanwhile, continues to languish near $3,800 after the activation of Ethereum hard fork Constantinople failed to spark an immediate crypto market rally. Dow Futures Post Mammoth Triple-Digit Rally As of 9:10 am ET, Dow Jones Industrial Average Futures had rallied by 163 points or 0.63 percent, implying an opening bell jump of 161 points. S&P 500 and Nasdaq futures were also…

Dow Futures Eye Feeble Open, But is Bitcoin on the Verge of a Historic Recovery?

The US stock market appears doomed to make a weak entry into the week’s first trading session following Monday’s Presidents’ Day holiday, as the Dow and its sister indices are all forecasting opening bell declines. The bitcoin price, on the other hand, burst out of a prolonged period of stagnancy and has many investors questioning whether the cryptocurrency is on the front end of a new bull market. Dow Futures Point South As of 8:55 am ET, Dow Jones Industrial Average futures had lost 58 points or 0.22 percent, implying…

Crypto Futures Platform ErisX Hires Execs From Barclays and YouTube

ErisX, a digital assets trading platform, has recruited three top-level officers from major companies in the financial and tech industries. Announced today, Robert Thrash joined the company as chief operating officer from Barclays, where he spent more than 11 years in various leadership positions. Most recently, he was the global bank’s managing director of agency derivatives services, a business that encompasses over-the-counter (OTC) derivatives clearing, futures execution and clearing and foreign exchange prime brokerage. Explaining his interest in the cryptocurrency markets, Thrash told CoinDesk: “Crypto sits at the intersection of technology, finance…

Bakkt Makes Initial Hiring Push for Bitcoin Futures Exchange

Ahead of its hotly anticipated launch, bitcoin futures exchange Bakkt has launched a hiring campaign. Eight new job posting were published Tuesday on the company’s website. Bakkt is looking for several experienced software developers, including mobile and blockchain developers; an institutional sales manager with experience in North America or Asia; and three higher-level positions including a director of finance, director of security engineering and director for blockchain engineering. An institutional-grade regulated exchange for crypto derivatives founded by the Intercontinental Exchange (the New York Stock Exchange’s parent company), Bakkt was expected…

Bitcoin Futures Now Trading At Discount to Exchange Prices

Signs are emerging that the futures market may not be impressed by bitcoin’s recovery from 15-months lows in December – at press time, the cryptocurrency’s spot price is higher than the futures price. As of writing, the global average or spot price calculated by CoinDesk’s Bitcoin Price Index (BPI) is currently $3,650 – up 16.9 percent from the low of $3,122 reached on December. Meanwhile, futures contracts are trading below the spot price. BTC futures As seen above (CME chart), January futures are reporting a $20 discount (futures price-spot price). Further, contracts…