Wooo...
Beating Bakkt, LedgerX Is First to Launch ‘Physical’ Bitcoin Futures in US
Apparently:
I couldn't check, but apparently this goes through their OMNI platform.
Beating Bakkt, LedgerX Is First to Launch ‘Physical’ Bitcoin Futures in US
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The Takeaway
Bitcoin derivatives provider LedgerX announced it has launched the first physically-settled bitcoin futures contracts in the U.S. Wednesday.
The contracts, which pay traders out in bitcoin, rather than U.S. dollars, will be available to both institutional and retail investors.
Customers can deposit bitcoin, rather than dollars, when buying a contract.
LedgerX has beaten the Intercontinental Exchange’s Bakkt and TD Ameritrade-backed ErisX to the punch with its new offering.
Bitcoin derivatives provider LedgerX announced it has launched the first physically-settled bitcoin futures contracts in the U.S. Wednesday.
The contracts, which pay traders out in bitcoin, rather than U.S. dollars, will be available to both institutional and retail investors.
Customers can deposit bitcoin, rather than dollars, when buying a contract.
LedgerX has beaten the Intercontinental Exchange’s Bakkt and TD Ameritrade-backed ErisX to the punch with its new offering.
Apparently:
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Any U.S. resident with a government-issued I.D. can now trade futures contracts for real bitcoin.
I couldn't check, but apparently this goes through their OMNI platform.
Breaking news:
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Breaking: U.S. Commodities Futures Trading Commission (CFTC) has not yet approved LedgerX to offer physically settled bitcoin futures. Developing story.
Earlier today:
LedgerX launches physically delivered bitcoin options and custody
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After obtaining a so-called designated contract market license (DCM) from the Commodities Futures Trading Commission (CFTC) in June, LedgerX has now launched physically delivered bitcoin options and custody for retail investors. According to a statement from the company, the company's OMNI platform soft-launched last week and is now fully operational and serving both retail and institutional players.
Someone is very wrong here.
EDIT: apparently LegderX rushed a little bit on their product offering.
CFTC: LedgerX ‘Not Approved’ to Launch ‘Physical’ Bitcoin Futures
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In a statement received by CoinDesk Thursday, the U.S. Commodities Futures Trading Commission (CFTC) says LedgerX has “not yet been approved by the Commission” to offer physically settled bitcoin futures, contradicting the company’s claims.
LAtest Development:
Very US solution: SUE
https://messari.io/article/ledgerx-clashes-with-cftc-over-planned-launch-of-bitcoin-futures-platform
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Following yesterdays announcement that LedgerX had launched a retail platform allowing for the first physically settled bitcoin ($BTC) futures in the U.S. it remains unclear if contracts are live for trading or will be live any time soon. Earlier today The Block reported that there was no sign of approved contracts on the CFTC website and no listed market volumes.
The CFTC later stated that LedgerX does not have a designated contract maker (DCM) license required to trade futures, only one from 2017 that allows for the trading of swaps. This statement clashes with the fact that the CFTC had reportedly approved LedgerX's DCM license last month. Following these events Paul Chou, CEO of LedgerX, took to Twitter to announce that he would take action against the CFTC stating:
I've decided to sue the CFTC for anti competitive behavior, breach of duty, going against the regs, etc.
The CFTC later stated that LedgerX does not have a designated contract maker (DCM) license required to trade futures, only one from 2017 that allows for the trading of swaps. This statement clashes with the fact that the CFTC had reportedly approved LedgerX's DCM license last month. Following these events Paul Chou, CEO of LedgerX, took to Twitter to announce that he would take action against the CFTC stating:
I've decided to sue the CFTC for anti competitive behavior, breach of duty, going against the regs, etc.
https://www.theblockcrypto.com/2019/08/01/actually-ledgerx-might-not-have-launched-physically-settled-bitcoin-futures-contracts-after-all/
) but the babe's laptop. I am using everyday a macbook air (or pro) never disappointed honestly.
