Bakkt Postpones Launch to 24 January 2019

Bakkt Postpones Launch to 24 January 2019

Bakkt, the ICE-operated platform, updated its launch schedule from 12 December 2018 to 24 January 2019 to make certain that participants can trade on the first day of launch

Given the volume of interest in Bakkt and work required to get all of the pieces in place, we will now be targeting January 24, 2019 for our launch to ensure that our participants are ready to trade on Day 1

Kelly Loeffler

Bakkt CEO, Kelly Loeffler, brings the update and other FAQs through a Medium post. She cites that in the case of crypto, there are new processes and risk mitigants to re-assess.

The contract on trading and warehousing will begin on 24 January 2019, which is still subjected to regulatory authorization. Bakkt will continue to inform the community on its progress.

Bakkt and Insurance Status for BTC

Aside for the rescheduling of the launch, Loeffler shares that the platform has insurance for BTC in cold storage. On the insurance of warm wallet within Bakkt Warehouse, the platform is said to be ‘in the process’ of securing it.

Why Bitcoin?

According to Bakkt, BTC is a widely distributed digital asset and is considered as the most liquid. It is regarded as a commodity and it accounts for more than half of the overall cryptocurrency market capitalization. BTC derivatives are regulated by the US Commodity Futures Trading Commission (CFTC).

Bakkt and the CFTC

The CFTC is performing an exhaustive review throughout the Bakkt platform such as the Bakkt Warehouse and the Bakkt Bitcoin Daily Futures Contract. Bakkt’s regulated offering is said to make the markets for digital asset more accessible and useful.

Bitcoin

BTC
Price
8,744 USD 1.84%
Volume, 24h
3,497,717,274 USD
0.00%
Marketcap
153,922,072,217 USD
56%
Emission
84%

Related news

Report: Bitcoin Works as a Hedge For Economic Freedom

Grayscale Investments has released their latest research report, highlighting the importance of self-sustaining and uncontrollable money to stop governments from curbing a person’s right to move their own money. Key examples come from Greek banking crises and China’s dirty floating on the Yuan, June 18, 2019. Eliminating Geopolitical Risks Global markets have currently issued overRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

CFTC Targets Control-Finance Ltd For Fraudulent Bitcoin Investor Scheme Of Nearly 23,000 BTC

US CFTC Launches Action Against Bitcoin Fraudsters A few days ago, the regulatory agency of the United States filed a complaint with the New York Southern District Court against Control-Finance Ld. Apparently, the firm defrauded over 1,000 investors so as to launder over 22,858 Bitcoin. The CFTC has also decided to start actions against Benjamin […]
Bitcoin Exchange Guide

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.