CME Head: BTC futures will decrease the coin's volatility

Terry Duffy, Head of CME Group, believes that he launch of bitcoin futures on the traditional financial will help reduce the volatility of the BTC
17 November 2017   1053

According to the head of CME Group, Terry Duffy, the launch of bitcoin futures on the traditional financial will help reduce the volatility of the first crypto currency. This is reported by the Business Insider.

Listen, it’s no mystery, this is a different product. We want to get out something that’s safe. 
 

Terry Duffy

Head, CME Group

According to mr. Duffy, BTC volatility will be reduced due to these factors:

  1. Bitcoin futures will not be able to trade 20% below or above the price of settlement the previous day.
  2. Bitcoin futures traders will have to put up approximately 30% collateral in the event they lose the bet.

Also, he belives that Bitcoin futures most likely, will attract to the market a younger generation of traders.

There’s a lot of young people that will like this type of marketplace, and they don’t even know what futures are today.
 

Terry Duffy

Head, CME Group

 

Karpeles to Face Another 10 Years in Jail

Japanese enforcements agencies blamed Mt. Gox CEO in stilling $3M
12 December 2018   85

Japanese prosecutors blamed the head of the already inactive exchange Mt. Gox Mark Carpeles in embezzling 341 million yen ($ 3 million) from a bank account trading platform. The prosecutors made the corresponding statement in the Tokyo District Court, demanding 10 years of imprisonment for Karpeles, reports The Mainichi.

[Mark Karpeles] diverted company funds to such uses as investing in a software development business for personal interest" and "played a great role in totally destroying the confidence of bitcoin users.
 

Japanese prosecutors

It is noted that in September-December 2013, the head of MtGox allegedly transferred funds to personal bank accounts, and then invested in the software development business.

Carpeles is also accused of faking the data of the trading system of the exchange for the fabrication of balance sheets.

The deadline for accepting applications from affected investors as part of the civil rehabilitation of Mt. Gox has been extended until the end of December.