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Bitcoin Futures That Are Settled in Cash to Be Launched by Bakkt in December

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  • Alex Dovbnya
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    Intercontinental Exchange announces the forthcoming launch of Bakkt's cash-settled futures

Bakkt
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In its new press release, Intercontinental Exchange has revealed that the launch of its Bakkt's cash-settled Bitcoin futures will take place on Dec. 6. This confirms the statement that was made by Bakkt COO Adam White who claimed that Bitcoin-to-USD futures would go live by the end of the year.    

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The cash-settled futures contracts of the recently launched cryptocurrency trading platform will be listed ICE Futures Singapore, thus becoming the first crypto product offered by the pan-Asian trading venue.            

The announcement comes right after the Monetary Authority of Singapore (MAS) proposed regulating cryptocurrency futures on Nov. 20 in its consultation paper to address an increasing interest towards such products from institutional investors. The MAS also rang alarm bells for retail investors, warning them about the risks that are associated with the highly volatile asset class. 

"The underlying payment tokens tend to exhibit high volatility and are intrinsically difficult to value ... Losses also amplified due to the leveraged nature of derivatives, and investors may even lose more than the whole amount they had put in," MAS said.

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Bakkt — Bitcoin Futures and Bitcoin Adoption Revolution?

Bakkt — Bitcoin Futures and Bitcoin Adoption Revolution?

As reported by U.Today, Bakkt launched the first physically-settled Bitcoin futures on Sept. 23, which was followed by a sharp 20 percent drop of the Bitcoin price. This product is unique because traders are paid directly in BTC upon the expiration date. 

Cash-settled Bitcoin futures are nothing new. Both Cboe and CME introduced them in December 2017, but the former had to halt the addition of new contracts since it had a hard time competing with its next-door rival. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ethereum’s Vitalik Buterin: Fiat Money Will Not be Destroyed

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  • Vladislav Sopov
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    Vitalik Buterin, Co-Founder of the Ethereum Foundation and “father” of Ethereum, sat down with Eric Weinstein on The Portal podcast to discuss “old” and “new” economics.

Vitalik Buterin, Ethereum: Fiat Money Will Not Be Destroyed
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Two intellectuals, Vitalik Buterin (Creator of Ethereum), and Eric Weinstein (PhD, scientist, and Managing Director at Thiel Capital), recently sat down on The Portal to discuss Mr. Buterin's attitude towards the "classic" economics theory.

Libertarianism and Diversity

When both individuals discussed libertarianism, Vitalik Buterin said that libertarians mostly belong to two large groups characterized as either a "leave me alone'" or "conquer the world" approach. This divergence can be extrapolated into cryptocurrencies in terms of their mass adoption.

Mr. Buterin highlighted that there are participants within the crypto community that are assured that fiat currencies will be destroyed and replaced by Bitcoin (BTC). In general, Mr. Buterin estimated that the prospects of any "short-term disruption" for the sake of some "nebulous long-term gain" is skeptical. He said:

I'm definitely not in the camp that actively relishes that fiat currencies will be destroyed. 

Mr. Buterin added that several members within the Bitcoin community share this belief.

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Peaceful Coexistence

Vitalik Buterin predicts that Bitcoin and other cryptocurrencies will coexist with fiat money and balance the disadvantages of the classic monetary system. He also added that cryptocurrencies will provide "checks and balances" against a government monopoly on "issuing money" rather than "replacing it entirely".

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Mr. Buterin is well-known as a champion of pluralism in future world of cryptocurrency. He is sure that different communities will defend their views on its development.

Will crypto one day replace fiat money? Tell us your opinion on Twitter.

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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