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Coinbase Loses Head of Trading After Six Months, Hired by Adam White Who Went to Bakkt

Hunter Merghart joined Coinbase in only six months ago, when he was hired as the head of trading by Adam White. However, last week, he announced his resignation from the company and he has decided to embark on a path to new opportunities, according to sources. He is one of the many Coinbase employees who have left the company in recent months, like White who left to work as an executive at Bakkt. While was only the fifth employee to ever be hired with Coinbase, and he even managed to be appointed vice president and general manager. When he hired Merghart, Merghart left megabank Barclays as director of U.S. equity trading, which is a position he held down for over two years. Based on two individuals that are close to Merghart, much of his reasoning for leaving had to do with the lack of resources and clarity on the company’s goals to create an institutional business. Coinbase has held down a place in the media lately, which has been divided between positive and negative reports. Their index fund, which was only launched four months ago, has already been shut down, cutting off their ability to reach institutional investors with the efforts. On the other hand, they were recently the recipient of $300 million through a Series E funding round yesterday, which they said would be contributing to their work on institutional investments. Chief operating officer and president Asiff Hirji believes that their work with institutional investments could end up accounting for a significant number of shares in revenue. Presently, these shares are “100% transactional.” To support this side of the platform, they added several new executives, including: Jonathan Kellner, managing director of the Institutional Coverage Group Formerly, CEO of Instinet Chris Dodds, a member of the board of directors Formerly, an advisor to Charles Schwab Oputa Ezediaro, a member of the Institutional Coverage Group Formerly, an executive director for JPMorgan Even though the industry is suffering with low crypto prices, there is a sense of optimism around the potential for advancement with Wall Street and their investors. ICE, for instance, is planning to finally launch their Bitcoin futures on Bakkt by the end of the year, while Fidelity Investments is making progress on their crypto trading platform. So far, Coinbase has yet to comment about the changes to Merghart’s resignation.
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Adam White Leaves Coinbase and Joins Bakkt as COO

The Coinbase veteran, Adam White, is leaving the San Francisco-based company to join Bakkt. The information was released a few days ago by Kelly Loeffler, CEO of Bakkt. White will be… Continue reading "Adam White Leaves Coinbase and Joins Bakkt as COO" The post Adam White Leaves Coinbase and Joins Bakkt as COO appeared first on UseTheBitcoin.
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Bakkt Hires Coinbase’s Adam White as Chief Operating Officer

High-ranked official from Coinbase, Adam White, joins Bakkt as the platform’s Chief Operating Officer starting November. Changing Sides Live Bitcoin News reported earlier this month that Adam White, Head of Coinbase’s Institutional Platform Group, was leaving the organization. The largest US-based cryptocurrency exchange has replaced him with Jonathan Kellner – former CEO of institutional brokerage firm Instinet. In an official Medium announcement dated October 15, Kelly Loeffler, CEO of Bakkt, welcomed White to the platform, outlining that he will serve as its Chief Operating Officer starting November. Loeffler describes White as an “excellent fit” and a “visionary”, noting: …He’s also an excellent fit with our culture of collaboration, problem solving, integrity and leadership. As a visionary and a strong operator, Adam is a much-anticipated addition to our busy team. Interest Shifting From Retail to Institutional Bakkt, in theory, solves a lot of the issues that accredited institutional investors are supposedly facing. According to Loeffler, the platform will reduce the risk of investing in Bitcoin by prefunding all of the trades. Furthermore, the platform will provide a fully funded separate guaranty fund for Bitcoin which will eliminate the risk of a default. White, who was the former head of Coinbase’s institutional platform, noted: The interest in Bitcoin and other currencies started changing from retail to the institutional side. But the level of infrastructure of the existing trading sites often didn’t meet their expectations. That’s why they’re waiting on the sidelines. The big banks needed exchanges that provided the safety equivalent to what they enjoyed in trading equities, bonds or gold. That’s why I joined Bakkt. It’s also worth noting that Bakkt aims to bring forward Bitcoin trading and warehousing solutions in December which are subjected to approval by the CFTC, adding yet another layer of credibility and trust. What do you think of Adam White joining Bakkt? Don’t hesitate to let us know in the comments below! Images courtesy of ShutterStock The post Bakkt Hires Coinbase’s Adam White as Chief Operating Officer appeared first on Live Bitcoin News.
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Bakkt CEO Announces Adam White As Team Member, Launch Details and Crypto Advocacy

Bakkt CEO Announces Adam White As Team Member Kelly Loeffler, the CEO of Bakkt, a cryptocurrency exchange that will be launched by the Intercontinental Exchange (ICE), has recently announced on the blog of the company that Adam White will be acting as the new Chief Operating Officer. The company, which will be launched in November, will hire White, the employee #5 of Coinbase, the current largest crypto company in the U. S. According to Loeffler, White will be an excellent fit with the culture of the company and will help to solve many problems with his leadership. Hiring him is part of a larger effort to optimize the team behind Bakkt as the exchange is about to be launched. Kelly Loeffler has also talked about the launch of the platform and all the work to prepare for it. The exchange will have clearing house boards and a house risk committee which have approved all the transaction rules in the exchange. The company will be in direct touch with the CFTC to review these policies. Another important statement is that the company will be taking a transparent approach and will engage with the financial industry in a professional manner. The market model will be focused on diminishing risks and while creating opportunities and will have tools for institutions to help their clients profit more. The regulation of the company would require the full prefunding of Bitcoin trades, allowing clients to transact directly with the warehouse and a separate fund for Bitcoin, which would be fully backed by the company and would help to ensure that non-defaulting clearing member capital is not risked. Finally, the company will also be focused on getting regulatory clarity as this is one of the worst aspects of the crypto market tight now and is might be the one that scares the institutional investors the most as they are afraid of how the governments are going to regulate these markets and how this can effect their investments. About Bakkt Bakkt is a new platform created by the Intercontinental Exchange (ICE), the group that owns the New York Stock Exchange (NYSE), in a partnership with Starbucks and Microsoft. The company will be the first try of the financial giant with Bitcoin and it will be launched in November 2018.
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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
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Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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Trillion Dollar Market Cap, Ethereum Chain Splits & Stellar Lumens Fund - Crypto News

In this video, Mattie gives you the latest bitcoin and crypto news. He talks about the ethereum chain splitting, BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars, and a new Stellar Lumens fund. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: Facebook: Telegram: ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: CoolWallet S: Trezor: Ledger Nano S: KeepKey: Read about them here: --------------------------------------------------------------------------------- References: Leading Crypto Asset Manager Grayscale Launches Stellar Lumens Trust Crypto Investment Firm Grayscale Launches Fund Dedicated to Stellar Lumens (XLM) Grayscale Tweet Grayscale BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars As Company Launches Cold Storage Trading Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade Ethereum Chain Splits, An Estimated 10% of Miners Stay on Constantinople Ethereum Upgrade – Constantinople Hard Fork Delayed VanEck to Nasdaq: Bitcoin Market Structure Expected to Improve in 2019 Nasdaq Tweet -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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