[2018-11-23]ICE's Bakkt Suspends Bitcoin Futures Roll Out

[Vladdirescu87]

Intercontinental Exchange’s (ICE’s) Bitcoin (BTC) futures trading platform has suspended its formal roll out.

Announced on Tuesday, November 20, through a company blog post, Bakkt’s first product, revealed in August 2018, has now been suspended until Thursday January 24, 2019. Warehouse and trading activities are both believed to start on that very date.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/ices-bakkt-suspends-bitcoin-futures-roll-out/

[1714947683]

1714947683

[pixie85]

Looks very much like a planned move. It's strange that they would announce this only weeks before the launch date and at the same time a week after a market crash. It doesn't take a conspiracy theorist to see that some insiders were informed about BAKKT's move beforehand. Maybe it was BAKKT itself selling into the dump because they knew they'll have 2 months to buy back cheaper?

[beachbummer]

The Futures contract is not supposed to work that way. They will only have the BTC in their "warehouse" once the trade is done. They are not taking positions against the traders. That is done by other counterparties in the market.

https://www.theice.com/products/69281872/Bakkt-Bitcoin-USD-Daily-Future

[KryptoKai]

It's a smart business move by them to delay it, no-one is interested in bitcoin right now when the markets are all red. People only join when the markets are high and pumping, only the smart 'idiots' will invest now and profit later

[TraderTimm]

Dear Coin Idol -- when an exchange says it will DELAY offering a product, it doesn't mean its fucking SUSPENDED.

But since you're a garbage crypto rag, I don't expect you to know the difference.

Keep churning out those shitty articles, and your comically inept graphics that goes with them.

[Kakmakr]

Being a leader and pioneer with this endeavour, I think it is just fair for them to take their time to prepare thoroughly for this. They know other companies are looking at them, before they take the plunge and if they fail, no other company will copy their actions.

Articles like this is just looking for some sensational and click bait reason to attract more people to their site and they have not considered the real reasons why they might have delayed their roll out of this new project.  

[BitHodler]

Being a leader and pioneer with this endeavour, I think it is just fair for them to take their time to prepare thoroughly for this.

It's not a matter of them taking their time for this, but they simply haven't had the regulatory approval they needed to actually launch next month. They might not even have it in January.

Them trying to work out things is just an excuse so that it seems like everything is all fine, while as I said before, no prior preparation is enough if there isn't the regulatory approval you need to actually launch.

The CFTC has been kind to Bitcoin with their CBOE and CME approvals, but they saw what happened afterwards. For us Bitcoiners it's a simple correction after a bull run, for non Bitcoiners it's manipulation.