CME news

An American financial market company operating an options and futures exchange.

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Liquidity provider for CME and Huobi raises $7M from Polychain Capital

A market maker for CME and Huobi just raised a $7 million seed round from Polychain Capital, aiming to address the growing demand for cryptocurrency liquidity from institutional traders.  Altonomy, a Singapore-based market maker, is said to connect with more than 60 cryptocurrency exchanges and OTC desks around the globe and trade over 250 cryptocurrencies. Besides providing liquidity to spot and derivatives exchanges, it also works with stablecoins including USDC, Tether, TrueUSD, and Paxos Standards.  "We are proud of our ability to source liquidity for customers, regardless of token type, order size, market cap, or whether the asset trades on centralized or decentralized exchanges,” said Altonomy co-founder Ricky Li in a statement.  Li told The Block that the company has witnessed an influx of institutions entering the crypto market recently. Indeed, as the crypto market matures and more liquidity pours into the space, Wall Street giants such as Fidelity, Goldman Sachs, and JPMorgan are all testing the cryptocurrency trading waters. Goldman Sachs recently built a new digital asset arm that is said to rival JPMorgan’s digital asset JPMCoin, while Fidelity is strengthening its own digital asset team to gear up for a reported launch of bitcoin trading. These large legacy players may pose substantial competition to the one-year-old company, although Li believed that there is still space for Altonomy to grow.  "They (companies like Goldman Sachs and Fidelity) are mostly in bitcoins, but most of our volume goes to other coins," said Li. "These are the tokens that actually need a deep understanding of the cryptocurrency and blockchain technology, as well as a network of the actual crypto players...We are attracting different customers."  Meanwhile, the upswing in bitcoin derivatives trading volumes also signals institutional traders’ growing interest in cryptocurrencies. CME’s bitcoin futures are trading at all-time highs two months in a row, reaching a record $1.7 billion in notional value traded in late June. In addition, 950 new trading accounts have been created on CME in 2019 so far, a 30% increase from last year.  Altonomy is counting on its partnership with Polychain Capital, a noted name in the blockchain space, and the newly raised fund to help strengthen its market presence among institutions and expand its cryptocurrency inventory.   "It [having a large inventory] gives us a lot of comforts and expands our trading universe," said Li. 
The Block Crypto

Bitcoin CME futures take a hit after value drop, Justin Sun lists out future plans for Tron, and more

Crypto News – 15 July – Justin Sun lists out future plans for Tron, Bitcoin CME futures take a hit after value drop and more Don’t forget to follow us for our daily videos#Tron #cryptonews #cryptocurrency #bitcoin #btc #Crypto @justinsuntron — AMBCrypto (@CryptoAmb) July 15, 2019 Crypto news 15 July Will Ethereum-collateralized DAI resuscitate […] The post Bitcoin CME futures take a hit after value drop, Justin Sun lists out future plans for Tron, and more appeared first on AMBCrypto.

Bitcoin CME Futures create an $800 gap over the weekend; Next stop – Lower lows?

Bitcoin CME Futures have witnessed an $800 gap followed by another $1,000 dip after opening on Sunday. The total gap of $1,800 [-15.51%] was created over the weekend causing Bitcoin CME futures to reach $9,915 from $11,990. The Gap These gaps play an important role in predicting spot price movements as each of these gaps […] The post Bitcoin CME Futures create an $800 gap over the weekend; Next stop – Lower lows? appeared first on AMBCrypto.
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Why Do We Need to Wrap Bitcoin?

BitGo, Kyber Network, MakerDAO, IDEX and many other crypto companies partnered to create a Bitcoin-backed Ethereum token, Wrapped Bitcoin. This token will represent BTC, 1 token equal to 1 BTC stored in the custody of BitGo. It could be used to trade BTC on DEXes, the whole administration will be via DAO, similar to Maker system

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Today’s cryptocurrency market is young and volatile. Cryptocurrencies have no backing, as such their value is not attached to a physical asset in fact. Their prices are, by and large, speculative meaning they are highly dependable on news and people talking about them. In an effort to bring stability to the market, CBOE and CME, world’s largest derivatives exchanges, decided to introduce Bitcoin futures.

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What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers

As crypto ecosystem consistently redefines its new peak in terms of adoption, fiat investors and new players are seeking opportunities to be a part of the next wave of Bitcoin Billionaires. One of the early birds, Tim Draper leads this space in terms of making sizable investments and returns in Bitcoin. Having complete faith in Bitcoin’s […] The post What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers appeared first on AMBCrypto.

Bitcoin Law Review - Blockstack's Reg A+, CFTC vs Bitmex, Gov't vs Libra/Crypto by @ToneVays Topic 1: Reg A+ & Blockstack Leads into Topic 1a on Broker-Dealers & Custody Topic 2: Government vs Libra/Crypto Topic 3: Crypto Exchanges Topic 3a - Update on Bitfinex vs NYAG Topic 4: Crypto & Taxes (Time Permitting) Topic 5: Other - Time Permitting Closing Moment of Zen: Honorable Mention: Please Support via Affiliate Codes: Unlimited Trading for $9 a Month at LVL: Deribit to save 10% on Trading: Buy/Sell Bitcoin at Paxful: Trading View: TorGuard VPN 50% off code & link = tone50: Ugly's Lifetime Subscription: Audio Podcast: See Regulation overview in each state here: Tone Vays is available for Corporate Consulting at the rate of 0.3 btc per hour. Please email for additional info.
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Reminder: Bakkt is Launching Bitcoin Futures in the Coming Day

Bakkt is Finally Here That’s right, Bakkt is finally here. After months upon months of deliberation, hype, and odd regulatory setbacks, the cryptocurrency venture that has been backed by the New York Stock Exchange, Microsoft, and Starbucks is launching. Starting Monday, July 22nd, the exchange will be testing physically delivered Bitcoin futures, which will be one of the first product of its kind to be regulated in U.S. markets. It is currently unclear who will be testing the product, or in which way the contract and custody solution will be tested. But, this development marks a huge step in the right direction for the cryptocurrency market. Bakkt confirmed the launch date for its testing period at a recent summit that was held in the New York Stock Exchange, whose chief executive is wed to the head of Bakkt. Per first-hand recounts of those in attendance, the cryptocurrency startup has also confirmed that it will be fully launching its Bitcoin futures product by the end of Q3, should nothing go wrong during testing of course. A Catalyst for Bitcoin & Crypto Growth In a recent Fundstrat Global Advisors research note posted to Twitter, Sam Doctor of the market research firm explained his thoughts on the conference. Citing the buzz being emanated by the over 150 investors and institutions in attendance, Doctor argues that there is “institutional anticipation” for the exchange’s Bitcoin futures. He expounded: “As we have written before, Bakkt tackles many of the barriers to adoption for traditional investors seeking to expand their mandate to include crypto.” Doctor adds that “appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch”, noting that the firm’s sales team is starting to ramp up discussions with everyone from brokers and market makers. He thus confirms that should the hype translate into actual investment, the long-expected launch of the Bitcoin product, which will give many institutions their first taste of so-called “physical” BTC, could be a “huge” catalyst for the growth of this already budding market. Institutions Are Buzzing Per Placeholder’s Chris Burniske, the venture capitalist author of industry primer “Crypto Asset”, the overall feel of the room was rather bullish. He wrote the following, making the case that Wall Street has its eye on the cryptocurrency space once again. All in all, the @Bakkt event signals great things for #bitcoin and #crypto at large, even if I did miss some of the funk of OG days.— Chris Burniske (@cburniske) July 18, 2019 Title Image Courtesy of Samson Creative Via Unsplash The post Reminder: Bakkt is Launching Bitcoin Futures in the Coming Day appeared first on Ethereum World News.
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