Poloniex to Go Offline For Maintenance

Exchange says nothing will happen to the assets, open orders won't be cancelled and open margin positions won't be touched during this update
06 June 2019   395

Today, on Thursday, June 6, the Poloniex Cryptocurrency Exchange will go offline for several hours due to the technical work that will begin at 14:00 UTC.

We expect this to take several hours. During that time Poloniex will be offline and trading will be suspended. Assets on the exchange will be secure during maintenance. We do not plan to cancel open orders. When Poloniex is back online, markets will be in post-only mode for a short time before we reopen trading. During this time, you can cancel open orders and create new orders, but no orders will be filled. Open margin positions will not be affected during this upgrade. They will remain open. After the site is back online, we will open markets in post-only mode. After the order books have refilled, we will reopen trading. After prices have stabilized, we will resume margin calls, and will then begin automated liquidations for accounts breaching maintenance margin requirements a short while after margin calls have resumed.

Poloniex at Twitter

Some time ago Circle, operator of the Poloniex exchange, cut 10% of staff due to tight regulation of the crypto industry in the United States.

CFTC to Approve LedgerX's Deliverable BTC Futures

At the same time, another platforms such as Bakkt, ErisX and Seed CX still awaiting regulatory approval
26 June 2019   68

Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Commodity Futures Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.

Deliveries for deliverable futures are made in the underlying asset, not in fiat funds. Thus, LedgerX outstripped the Bakkt, ErisX and Seed CX platforms, which are still awaiting regulatory approval.

At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.

However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.

Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.