Bitcoin Is Controlled by China, CEO Ripple Says

This is said by Brad Garlinghouse at 2018 Stifel Cross Sector Insight conference
13 June 2018   1616

Concerns about the centralization of mining have been preserved in the community since it became apparent that most of the hash-rate of the network belongs to several mining pools. CEO Ripple Brad Garlinghouse drew attention to the fact that the problem is more ambitious - many large pools are located in China. This is reported by The Street.

A number of prominent people, even Steve Wozniak, has said that he sees a world where Bitcoin is the primary currency. I think that's absurd. I don't think that any major economy will allow that to happen. By the way, it doesn't make sense. I'll tell you another story that is underreported, but worth paying attention to.  Bitcoin is really controlled by China. There are four miners in China that control over 50% of Bitcoin. How do we know that China won't intervene?  How many countries want to use a Chinese-controlled currency? It's just not going to happen.
 

Brad Garlinghouse

CEO, Ripple

Although this statement may seem sensational, the largest mining pools of Bitcoin like BTC.com, Antpool, F2Pool and BTC.TOP are really located in China. They account for about 59% of the bitcoin hash-rate. If we add to them smaller Chinese pools, then this country will have more than 75% of the computing power of the network.

CME Group Won't Launch BTC Deliverable Futures

Since the launch of bitcoin futures, CME has attracted more than 3,300 individual investors, processed 7000 contracts for 35k BTC totally
02 October 2019   155

Confirming its intention to launch options on bitcoin, the Chicago Mercantile Exchange (CME Group) noted that it would not follow the path of a competitor in the form of the Bakkt platform and would refuse to trade in deliverable futures. The director of alternative investment products CME Group Tim McCourt said this in an interview with Markets Media.

Since we launched bitcoin futures in December 2017, the number one demand from customers has been for options on our futures.
 

Tim McCourt

Global head of equity index and alternative investment products, CME Group

CME Group conducts calculations on bitcoin futures in fiat, and the company will follow the same approach with respect to options. As McCourt noted, guided by the needs of customers when developing new products, the company does not plan to launch supply contracts for bitcoin.

Since the launch of bitcoin futures, CME has attracted more than 3,300 individual investors. This year, on average, the company processed about 7 thousand contracts for a total of 35,000 BTC.

The institutional interest in bitcoin is growing but they need time to become familiar with the market and get approval to use new products.
 

Tim McCourt

Global head of equity index and alternative investment products, CME Group

Also, according to McCourt, new options can use existing technology, an application matching engine and clearing mechanisms. Currently, the exchange is conducting standard instrument testing procedures.