Bakkt Launch to be Delayed

Cryptocurrency playform for big players will take place no earlier than January 24
21 November 2018   685

The launch of the Bakkt cryptocurrency platform, the first products of which should be Bitcoin futures contracts with physical delivery of the asset, will take place no earlier than January 24, 2019. This was announced by the platform operator Intercontinental Exchange (ICE), CoinDesk reports.

Earlier, ICE said that the launch of this cryptocurrency-oriented platform for large investors will take place on December 12, 2018, but now this date has been rescheduled.

ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.

ICE Future Exchange

It is possible that the delay is associated with obtaining the necessary permits from the regulators. Earlier, ICE reported that it would receive such approval in early November.

Given the volume of interest in Bakkt and work required to get all of the pieces in place, we will now be targeting January 24, 2019 for our launch to ensure that our participants are ready to trade on Day 1. As is often true with product launches, there are new processes, risks and mitigants to test and re-test, and in the case of crypto, a new asset class to which these resources are being applied. So it makes sense to adjust our timeline as we work with the industry toward launch.

Kelly Loeffler
CEO, Bakkt

As reported, Bakkt previously announced it was working with BCG, Microsoft and Starbuck

Cryptopia to Resume Trading Temporary

18 March 2019   5

Hacked cryptocurrency exchange Cryptopia temporarily resumed trading on this Monday, according to information from the order book on its website. To date, trading has been stopped, and the company itself has not made any announcements on this matter. The total volume of transactions on the exchange, which ceased trading services about two months ago, in the last 24 hours amounted to a little more than 10 BTC.

In a message not related to today's test launch of trades, the exchange announced that it would send letters to all clients affected by the hacker attack. A copy of the letter is available on the Cryptopia website. In it, the exchange describes the circumstances of the hacking and its further actions.

The company also confirmed that it will pay damages to affected users. Customers who kept cryptocurrency stolen from the exchange will see in their accounts withdrawal records without transaction identifiers, reflecting the extent of the damage. They will get Cryptopia Loss Marker (CLM), which are records in the database of payments due to them.

According to the announcement, the company expects to proceed with the payment of compensation and resume trading until the end of the month after the completion of the necessary legal procedures.