For the first time, investors can trade gold-backed futures contracts on a leading crypto derivatives exchange. In addition to its spot market trading, PAX Gold is now available as perpetual and quarterly futures contracts on FTX. Using PAX Gold, a stablecoin backed by gold, FTX will allow traders to buy and sell gold futures contracts via digital assets. A futures contract is an agreement to buy or sell a specified asset at a predetermined price at a specific time in the future. The price of PAX Gold is tied to…
Month: January 2020
Paxos’ Tokenized Gold Futures Are Now Trading on FTX Exchange
For the first time, investors can trade gold-backed futures contracts on a leading crypto derivatives exchange. In addition to its spot market trading, PAX Gold is now available as perpetual and quarterly futures contracts on FTX. Using PAX Gold, a stablecoin backed by gold, FTX will allow traders to buy and sell gold futures contracts via digital assets. A futures contract is an agreement to buy or sell a specified asset at a predetermined price at a specific time in the future. The price of PAX Gold is tied to…
These 4 Factors Suggest the Altcoin Crypto Market Rally is Only Just Beginning
The Altcoin Index Perpetual Futures broke out of a major resistance level in the past week, which may indicate that due to the strong momentum in the crypto market, major altcoins are in a prime position to sustain their upward movement. $ALT perp:Breakout ✅Retest ✅Consolidation ✅Continuation ✅ pic.twitter.com/V3Q3Kv9fwy — The Crypto Monk ⛩ (@thecryptomonk) January 14, 2020 After breaking out of the resistance level the first time, it corrected to retest the level, consolidated, and cleanly broke out of the resistance level. These four factors, which can be considered as…
Singapore Crypto Consultant Kidnapped for $1 Million Ransom
Singaporean Mark Cheng was recently kidnapped in Thailand and tortured for a $740,000 ransom in Bitcoin (BTC), the South China Morning Post and others report on Jan. 14. After transferring all his available funds of $46,000, he allegedly made a daring escape as his captors prepared to murder him. Cheng was on a business trip to Thailand with associate Kim Lee Yao Wei when a group of masked men grabbed them and put them in a nearby truck, Cheng told Singapore Chinese publication Lianhe Wanbao. Cheng also implicated Thai actor…
CME’s Bitcoin Options See First-Day Volume of $2.3M
Options on bitcoin futures from Chicago Mercantile Exchange (CME) got off to a good start on Monday, seeing trading volume reach 55 contracts in the opening session. That amounts to a notional volume of about $2.3 million or 275 bitcoin, with each contract worth 5 BTC. Also, only call options traded on the first day, as noted by Skew.com, provider of data analytics for Bitcoin and Ether derivatives. An option contract is a derivative based on the value of an underlying instrument that provides the right, but not the obligation,…
BREAKDOWN: Hamstringing an Industry With Compliance Costs | January 7th, 2020
In their annual transparency report, Kraken reported seeing a 50% increase in regulatory inquiries as compared to 2018, which CEO Jesse Powell later revealed cost the exchange more than $1m. Between this and stories like the $2m it cost Blockstack to raise $23m in an SEC compliant token sale (8.7% of the raise), it begs the question: will compliance costs fundamentally limit innovation by demanding big war chests to play? Will the most successful companies be those who (like Block One) simply raise enough to pay off the regulators on…