Intercontinental Exchange unit to launch Bitcoin futures

NYSE Arca, a unit of Intercontinental Exchange, has filed with the SEC to be allowed to launch two funds traded on the exchange connected with Bitcoin futures
20 December 2017   899

The first all-electronic exchange in the USA, NYSE Arca is owned by Intercontinental Exchange and currently trades more than 8,000 exchange-listed securities. On December 19 the records were published, stating that the Exchange proposes to list and trade the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF under NYSE Arca Rule.

It was stated that the value of the Bitcoin Futures Contracts will be based on the expected value of Bitcoin at a future point in time, specifically, the expiration date of such Bitcoin Futures Contracts. By being long Bitcoin Futures Contracts, the Fund seeks to benefit from daily increases in the price of the Bitcoin Futures Contracts. 

According to the Registration Statement, the investment objective of the Fund is to seek results (before fees and expenses) that, both for a single day and over time, correspond to the performance of lead month Bitcoin futures contracts listed and traded on either Cboe or CME.
 

Notice of Filing of Proposed Rule Change to List and Trade the Shares

Previously, we have reported that The CME Group and Cboe exchange have successfully opened Bitcoin futures trading.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   270

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.