CoinfloorEX to Launch BTC Futures

CoinfloorEX will be at least the fifth site that launched bitcoin futures, joining Bitmex, CryptoFacilities, CME Group and CBOE
15 March 2018   816

London-based crypto exchange CoinfloorEX, founded in 2013, announced bitcoin futures launch. The launch of the first contract should take place next month. This is reported by Reuters.

It is noteworthy that, unlike the products of competitors, the contracts of CoinfloorEX will be provided on terms of physical calculations, that is, all payments will be made in bitcoins. Futures of CME and CBOE provide all calculations in fiat.

Co-founder of CoinfloorEX Mark Lamb explained that the decision to create the product was made in response to the numerous requests of the clients of the trading platform.

When you talk to the liquidity providers, they all say the same thing, which is they want a physically delivered futures contract so they can hedge their exposure across exchanges.

Mark Lamb 

Co-founder, Coinfloor

Many trading companies and large investors fear that futures that are being traded in fiat can be an easy target for manipulation, since intruders can affect the price of the underlying asset in order to achieve the desired result, Lamb explained.

Thus, CoinfloorEX will be at least the fifth site that launched bitcoin futures, joining Bitmex, CryptoFacilities, CME Group and CBOE.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   103

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.