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Ethereum (ETH) Futures Launch Expected by CFTC Chairman

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Thu, 01/30/2020 - 14:50
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  • CFTC Chairman Heath Tarbert says that Ethereum (ETH) futures are on the way

Cover image via www.beekuaibao.com
Contents

During his recent interview with Bloomberg, Heath Tarbert, U.S. Commodities Futures Trading Commission chairman, reiterated that Ethereum (ETH) futures are in the pipeline. 

"Certainly, we've seen Bitcoin futures, cash-setted as well as physically-delivered. My guess is that we are going to see Ether futures as well."

Back in October, Tarbert said that Ethereum futures could start trading somewhere in 2020 while expressing the willingness of the CFTC to greenlight the new product.

“I’d say it is likely that you would see a futures contract in the next six months to a year.” 

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Bringing more clarity 

Prior to that, the regulator classified the leading altcoin as a commodity, thus putting it under its purview along with Bitcoin. However, Tarbert recently told Cheddar that things were less clear about XRP, the third biggest cryptocurrency at the center of the damning securities lawsuit against blockchain company Ripple.      

In November 2017, the CFTC allowed CBOE and its Chicago-based rival CME to list Bitcoin futures, which ended up being a turning point for the crypto market. Shortly after CME launched the highly-anticipated product, Bitcoin entered a long-lasting bear market. 

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Taking the lead 

In his latest interview, Tarbert said that he wanted the US to take the lead when it comes to digital assets and Blockchain. He, himself, wants to encourage innovations in the crypto industry.  

"I want the United States of America to lead in this."

Meanwhile, the Securities and Exchange Commission (SEC) continues kicking the can down the road after rejecting at least a dozen Bitcoin ETF proposals

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with 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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  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

Cover image via stock.adobe.com
Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

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Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

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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