Exchanges Roundup: Ledgerx Readies ETH Futures, Coinbase Partners With Caspian

In recent news pertaining to cryptocurrency exchanges, anonymous sources have stated that Ledgerx is preparing to launch ETH futures trading, Coinbase has announced a partnership with Caspian intended to target institutional investors, and the chief executive officer of Binance has shared his opinions regarding “trans-fee mining” and decentralized exchanges.

Also Read: European Regulator Renews Restrictions on Crypto-Based Derivatives

Ledgerx Reportedly Readying to Launch ETH Futures

Exchanges Roundup: Ledgerx readies ETH Futures, Coinbase Partners With CaspianAccording to an anonymous source, cryptocurrency derivatives trading platform, Ledgerx, is readying to launch ETH futures.

The source states that the company has an Ethereum options product ready for launch, however, is currently awaiting regulatory approval for such. The source added that Ledgerx currently has a meeting with the United States Commodities Futures Trading Commission scheduled for the 5th of October.

At the start of September, Business Insider cited anonymous sources in reporting that The Chicago Board Options Exchange (CBOE) was readying for the launch of ETH futures markets. The source predicted CBOE’s ETH futures may go live by 2019.

Coinbase Partners With Caspian to Target Institutional Investors

Exchanges Roundup: Ledgerx readies ETH Futures, Coinbase Partners With CaspianMajor U.S.-based cryptocurrency exchange, Coinbase, has announced a partnership with Caspian to ”drive institutional participation in crypto.”

According to Caspian’s website, the company offers an “institutional grade […] asset management solution that covers the lifecycle of the trade,” with Caspian purporting to currently be providing services to 25 cryptocurrency exchanges including Binance, Bitfinex, Bitmex, and Gemini.

The chief executive officer of Caspian, Robert Dykes, stated: “We’re delighted to cement this important partnership with Coinbase, which will see one of the world’s leading digital currency trading venues join forces with one of the most exciting emerging crypto platforms.”

Kayvon Pirestani, director of institutional sales at Coinbase, stated: “By working together, Coinbase and Caspian will deliver institutional-grade order and risk management tools to the growing number of professional crypto trading firms around the world. Customers will be able to take advantage of the best elements of both platforms — accessing Coinbase’s extensive historical market data and deep pool of liquidity, and combined with Caspian’s suite of seamless trading tools. We see this partnership as not only a tremendous commercial opportunity, but as a chance to truly move forward the institutional adoption of crypto as a mature, tradable asset class.”

Binance CEO: Trans-fee Mining “Not a Threat,” Decentralized Exchanges “Are the Future”

Exchanges Roundup: Ledgerx readies ETH Futures, Coinbase Partners With CaspianDuring an interview conducted at the recent Consensus: Singapore 2018 conference, Changpeng Zhao (CZ), the chief executive officer and co-founder of Binance, dismissed the “trans-fee mining” model as posing no threat to Binance’s future, and shared his belief that “decentralized exchanges are the future.”

CZ described the trans-fee mining model as “damaging” to the cryptocurrency ecosystem, adding: “It’s not a threat. The exchanges will try to do that. The volume at the exchanges that have tried that have all come down. It’s a very complex way of raising money. The law of supply and demand tells us that since there’s always more platform tokens being issued, you can almost guarantee that the price will go down over time.”

CZ also expressed his bullish expectations for decentralized exchanges, stating: “I think decentralized exchanges are the future, but it’s going to take a few years to get there. For the foreseeable future, I think the volumes will not be as high. So, it’s more like an experiment. I think it’s more innovation; we’re still at the early stage of the industry.”

“Right now, most of the money is still in fiat. So, I think the sweet spot is actually to do the crypto-to-fiat exchanges,” he added.

Do you think that decentralized exchanges are the future? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Twitter.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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Cryptocurrency Derivatives Platform LedgerX Will Launch Ether Options: Report

Institutional bitcoin derivatives platform LedgerX is reportedly preparing to expand its cryptocurrency product line to include ether, the native asset of Ethereum. The U.S. firm, which was the first trading platform to receive approval from the Commodity Futures Trading Commission (CFTC) to list bitcoin derivatives, has developed a line of ether options and is ready to roll

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CME Bitcoin Futures Daily Volume Spikes 93% in Q2 2018

CME Group’s bitcoin futures average daily volume spiked 93% in the second quarter over the previous quarter, while open interest posted a 58% increase, the company noted on Twitter. Average daily volume jumped from 1,854 in the first quarter to 3,577 in the second quarter, while open interest rose from 1,523 to 2,405 in the

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Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates Komainu

Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates Komainu

The rush of big money into the cryptocurrency market is continuing at full pace and reshaping the global investment landscape. Two recent examples are Coinbase’s new institutional focus and Nomura’s new venture. These stories, and much more, are in today’s edition of Bitcoin in Brief.

Also Read: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading

Coinbase Goes After Big Money

Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates KomainuCoinbase, the San Francisco-based cryptocurrency exchange recently valued at $8 billion, has announced a new suite of services meant to attract more big money players such as the many new crypto hedge funds that pop up all the time. It will launch a cryptocurrency custodian in partnership with an SEC-regulated broker-dealer to a group of initial clients that include 1confirmation, Autonomous Partners, Boost VC, Meta Stable, Multicoin Capital, Polychain Capital, Scalar Capital and Walden Bridge Capital.

New offerings also include Coinbase Prime, a suite of tools specifically designed for institutions, and an institutional coverage group headquartered in New York City to provide a higher level of service to these type of clients. “There is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs,” said Adam White, Vice President and General Manager of Coinbase Institutional.

The company will also be opening a new engineering office in Chicago to continue developing Coinbase Markets, which provides a centralized pool of liquidity for all its products. Over the course of the year it is promised to introduce new features like low latency performance, on-premise data-center co-location services, institutional connectivity and access, and settlement and clearing services. “As a global leader in financial technology, Chicago welcomes innovative companies investing in our city and creating jobs for Chicago residents,” said Mayor Rahm Emanuel. “There is no better city than Chicago for companies that want to put down roots and grow their businesses.”

Komainu to Protect Mutual Funds

Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates KomainuKomainu is a new venture established to help overcome barriers for institutional investment in crypto-assets with a custody solution and offering new services, standards and best practices. Its founders include Tokyo-headquartered global investment bank Nomura (NYSE: NMR), hardware wallet developer Ledger, and Global Advisors, parent company of Coinshares.

Jez Mohideen, Global Chief Digital Officer at Nomura, said: “Global investment managers have long been held back from full participation in digital asset markets, limited by operational and regulatory risk. Our new partnership will set the required standards that will bring peace of mind to digital asset investors, and provide tools and products to enable better integration with more traditional investment vehicles such as mutual funds.” Jean-Marie Mognetti, Co-Principal of Global Advisors, added: “After 6 years of research, and collaboration with our administration partner and its regulator, we now have demonstrable progress. This partnership is a progressive stepping stone towards the creation of the necessary prerequisites for further growth within the digital asset ecosystem. This will open new and exciting opportunities to global participants and contribute to move digital asset closer to mainstream offerings.”

Ledgerx Savings Accounts

Ledgerx, the CFTC-regulated cryptocurrency management platform, has launched a new savings account-like product. Ledger Savings uses an underlying call overwrite strategy but offers a simple interface so that users won’t need to know anything about investing in derivatives. It targets a 16% per annum yield with a potential 2x exit at maturity in the event BTC doubles from current spot prices. For launch, the savings product will be offered for 3 month, 6 month, and 12 month maturities, at varied rates. After selecting the product for the desired maturity, the USD amount is available immediately to withdraw but the associated BTC is locked for the duration of the savings product.

Rat Poison Squared Fashion

Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates KomainuIf there is one thing that’s true for the cryptoverse, is that it is full of fast moving entrepreneurs. Warren Buffett only bashed bitcoin as “rat poison squared” less than two weeks ago, and someone has already found a way to make money from the now infamous glib. Ecoinmerce, a tokenized e-commerce marketplace, has announced the Rat Poison Squared clothing line, to include t-shirts, hats, coffee mugs, and keyrings.

“We don’t know exactly what ‘rat poison squared’ is supposed to mean,” said Ecoinmerce COO Rex Chen. “What we do know is that Bitcoin created a very productive ecosystem and spawned the entire cryptocurrency revolution, which is driving innovation in nearly every industry. This clothing line is intended to give Bitcoin and cryptocurrency enthusiasts pride in their defiance of the status quo and their belief in a better future.”

Telegram’s Gram Lawsuit

With a seemingly endless torrent of new ICO tokens flooding the market, short and pithy names for these crypto-assets are running out fast. This can lead to people registering coin names just to try and flip them for profit later and to companies to wage battles over who gets to control a certain ticker, as happens with website domain names. The latest example for this is Telegram, which is now reportedly suing a Florida-based venture over the rights to ‘gram’.

Did Jennifer Aniston Convinced You to Invest in Crypto?

Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates KomainuThe Texas Securities Commissioner has issued an Emergency Cease and Desist Order on May 15 to stop Wind Wide Coin Inc., from fraudulently offering investments in a cryptocurrency trading program. The order alleges that Wind Wide Coin and three sales agents in Houston are offering for sale investments in a cryptocurrency trading program that uses an “automatic trading bot.” The company is promising investors the combination of “no risk” and extraordinarily high returns. The purchase of 0.1 of BTC, for example, will yield 1 BTC 24 hours later, a one-day return of 900%.

Further according to the order, Wind Wide Coin is also misleading potential investors by claiming it is a “licensed company” and “legally registered.” And to lure gullible suckers the company’s website has featured endorsements from supposed past investors. To weed out anyone with some common sense, the website used images of celebrities like Jennifer Anniston – which it mistakenly identified as “Kate Jennifer,” an investor. Similarly, a photo of Prince Charles was identified as “Mark Robert,” an investor who provided a testimonial. The same testimonial was then attributed verbatim to a “Johnson Smith,” supposedly another UK investor.

What do you think about today’s news updates? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock, Ecoinmerce.


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