Crypto Facilities Futures Trading to Reach Almost $1B

The company says that such a strong growth is due to a deal with the Kraken bitcoin exchange
06 March 2019   252

In February, the volume of futures trading on the Crypto Facilities platform grew by more than 500%, reaching almost $ 1 billion. CoinDesk reports this, citing company representatives.

Crypto Facilities offers Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash futures contracts.

The company acknowledges that such a strong growth is due to a deal with the Kraken bitcoin exchange, which acquired the platform in early February. The amount of this transaction, according to some data, was $ 100 million.

According to the head of the indices development department, Sui Cheng, the company estimated the five-day period before the deal was made public and the same period after: the trading volume grew by 565%. At the same time, Bitcoin futures remain the most popular product, followed by Ethereum and Ripple.

Note that the liquidity at Crypto Facilities for contracts for Bitcoin increased by 200%, and for Bitcoin Cash and Litecoin - by 1000%.

It is noteworthy that residents of Europe and Asian countries trade on the platform, but not American citizens.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   88

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.