Futures' threat

CoinDesk Daily is sponsored by  ❄️ ❄️ December 8, 2017 ❄️ ❄️ "Of all 36 ways to get out of trouble, the best way is to leave."  ― Chinese proverb Got this from a friend? SUBSCRIBE HERE THE FEATURE The Threat of Bitcoin Futures The financial press has been in a flutter over the launch of bitcoin futures trading on not one but two reputable, regulated and liquid exchanges: CME and CBOE. CME Group, the largest derivatives exchange in the world, as well as one of the oldest, will launch bitcoin futures trading on Dec. 18, while CBOE Global Markets, which owns the Chicago Board Options Exchange (the largest U.S. options exchange) and BATS Global Markets, plans to beat CME to the punch by opening its own trading on Dec. 10. In theory, this opens the doors to institutional and retail investors who want exposure to bitcoin but for some reason (internal rules, or an aversion to risky and complex exchanges and wallets) can't trade actual bitcoin. And that expected flood of interest is said to be part of the reason that bitcoin's price recently shot past $11,000 (which, considering it started the year at $1,000, is phenomenal). But if that's true, it's a puzzler: why does the market think there will be a huge demand for bitcoin itself as a result? Read the whole story Tweet Share ⭐ COINDESK SPONSOR ⭐ Custody for your Crypto Assets Protect and secure your assets with itBit, a regulated Trust Company, and Custodian. With itBit, all assets are backed by regulatory capital reserves, and you can verify custody account balance and holdings 24/7 with personalized access and customer support. Learn More Wait, there's more: Microlending Trends As Startups Look to Blockchain for Loans Blockchain is now being touted as a way to revive a long-promised method of boosting financial access for the underbanked. Australian Finance Watchdog to Monitor Bitcoin Exchanges The Australian Transaction Reports and Analysis Centre has received the go-ahead to monitor bitcoin exchanges after the passing of a new bill. Bitcoin Dips Below $15k on Weak Afternoon Trading Bitcoin was among the worst performing assets in the 6:00 UTC to 12:00 UTC trading session on Friday Correction Coming? Bitcoin Retreats After $17k High Bitcoin prices are taking a hit in the early U.S. session today, after a record spike to over $17,000 yesterday. Credit Union Trade Body NAFCU Joins Enterprise Ethereum Alliance The National Association of Federally-Insured Credit Unions has become the latest member of the Enterprise Ethereum Alliance. Bitcoin Prices Spark Demand for Washington's Cheap Electricity The Central Washington region of the U.S. has reported surging demand from bitcoin miners for its cheap hydropower as price gains continue. The Blockchain Token Velocity Problem Most utility tokens don't provide a compelling reason for users to hold the token for more than a few seconds. And that's a problem for its value. Huobi, SBI Announce Plan for Japanese Bitcoin Exchanges Cryptocurrency exchange Huobi and financial services giant SBI Group are partnering to launch a pair of Asia-based digital exchanges. The Threat of Bitcoin Futures Should the prospect of regulated futures trading be pushing up the bitcoin price? CoinDesk's Noelle Acheson isn't quite so sure. Report: Bitcoin Derivatives Banned By South Korean Government Regulators in South Korea have reportedly banned the trade of futures contracts and other derivatives tied to bitcoin. NiceHash CEO Confirms Bitcoin Theft Worth $78 Million Cryptocurrency mining marketplace NiceHash has confirmed that yesterday's hack resulted in the loss of over 4,700 BTC. The Bulgarian Government Is Sitting on $3 Billion in Bitcoin Bulgarian authorities seized more than 200,000 bitcoins from criminals back in May, an amount which now has a total value of more than $3 billion. Playkey ICO Raises $10.5 Million for Cloud-Powered Gaming By decentralizing, this cloud-gaming company based in Russia aims to expand into the U.S. and Asia. Apple Patent Filing Hints at Blockchain Use In a new application released by the USPTO, Apple describes how it might use a blockchain-based platform to generate and secure timestamps. Go to CoinDesk BTC: 15,116.65-10.33%  ETH: $457.64 +5.74% @9:20 EST - More price details 👋 CoinDesk is Hiring 👋 Come join our great team here in New York City! Copyright © 2017 CoinDesk, All rights reserved. You're receiving this email because you subscribed for updates on our website. Our mailing address is: CoinDesk 636 Avenue of the Americas New York City, NY 10011 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list