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#CryptoCorner: Bakkt: (NYSE: ICE) Launches Options and Cash-Settled Futures, OKEx to Launch Options Trading, Riot Blockchain (NasdaqCM: RIOT) Announces Purchases and Upgrades

 

Point Roberts, WA and Delta, BC - December 9, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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https://www.investorideas.com/Audio/Podcasts/2019/120919-CryptoMarket.mp3

#CryptoCorner: Bakkt: (NYSE:ICE) Launches Options and Cash-Settled Futures, OKEx to Launch Options Trading, Riot Blockchain (NasdaqCM:RIOT)Announces Purchases and Upgrades

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Bakkt Launches Options and Cash-Settled Futures, OKEx to Launch Options Trading, PBoC to Pilot Digital Currency and Riot Blockchain Announces Purchases and Upgrades

Stocks discussed: (NYSE:ICE) (NasdaqCM:RIOT)

Bakkt, the crypto arm of Intercontinental Exchange (NYSE:ICE), has officially launched Bitcoin (BTC) options and cash-settled futures contracts, according to a blog post today from company COO Adam White. An excerpt reads:

At Bakkt, our mission is to bring trust and utility to digital assets. These new contracts represent an important milestone in the development of this emerging asset class and our bitcoin product complex. Backed by the strong support and commitment of the Intercontinental Exchange team, we have great momentum going into 2020 and an exciting product roadmap that includes new trading products, an expanded custody offering, an innovative consumer payments app, and more.

According to a report from CoinDesk, Malta-based crypto exchange OKEx has announced that it is debuting simulated options trading on December 12 with trading set to begin on December 27. Company CEO Jay Hao commented:

“Options is a unique instrument that enable traders to manage, price and hedge the volatility of crypto assets with a combination of option contracts. As the crypto market evolves, we aim to build a complete derivatives product suite, delivering solutions to optimize users’ trading strategies. OKEx Options is a major step towards this goal.”

The People’s Bank of China is positioned to pilot its digital currency, according to local outlet Caijing. The pilots will involve four of the country’s largest banks as well as telecom companies, and will take place in the cities of Shenzhen and Suzhou. An excerpt from the report reads:

Compared with the previous pilot, this time the central bank's legal digital currency pilot will go out of the central bank system and enter real service scenarios such as transportation, education, and medical treatment, reaching C-end users and generating frequent applications.

Riot Blockchain, Inc. (NasdaqCM:RIOT) last week announced the purchase of 3,000 next generation Bitmain S17 Pro Antminers for approximately USD $5 million from BitmainTech PTE. LTD. An excerpt from the press release reads:

The Board of Directors and Management of Riot are very pleased to be in a position from a financial point of view to take advantage of this exciting new technology at a time when the manufacturer has recently significantly reduced the cost of the miners. While cryptocurrency mining continues to have challenges, including price volatility of Bitcoin, the opportunity to acquire significant additional net hashrate capacity on a very cost-effective basis was determined to be compelling.

Sam Mowers, Investorideas

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