Open interest for Bitcoin futures surpasses $5 billion

Aggregated open interest (OI) for Bitcoin futures has surpassed $5 billion on Feb. 13, according to data compiled by The Block. Open interest refers to the value of outstanding futures contracts that have not been settled yet. An increase in open interest signals that more money is flowing into the market and that traders are […]
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Feb 14, 2020, 9:10AM UTC

CME tops Bakkt's reported bitcoin options volumes in one day

Chicago-based derivatives exchange CME Group kicked off trading for its bitcoin option on Monday by trouncing its rival, the Intercontinental Exchange-owned Bakkt.  CME Group has traded 55 contracts, worth about 275 bitcoin or $2.1M, in its new bitcoin option, according to a spokeswoman.  The launch of the product followed Bakkt’s bitcoin options roll-out, which has […]
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Jan 13, 2020, 10:46PM UTC

Former Bakkt CEO Kelly Loeffler to help oversee CFTC, raising a possible conflict of interest

Kelly Loeffler, former CEO of bitcoin derivatives exchange Bakkt and a newly-appointed U.S. Senator, has joined the committee that oversees the Commodity Futures Trading Commission (CFTC). Loeffler has joined the Senate Agricultural Committee, which has jurisdiction over the CFTC. Loeffler’s appointment to the committee raises concerns about a possible conflict of interest. Her husband, Jeffrey […]
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Jan 8, 2020, 1:45PM UTC

With CEO appointment, Bakkt shows commitment to consumer ambitions

Bakkt has spent much of the year building out its institutional product suite, but the appointment of a new chief executive officer suggests that the firm might focus more on the consumer side of things in 2020.  The Intercontinental Exchange-backed firm named Mike Blandina as its new CEO last week, replacing the soon-to-be U.S. Senator […]
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Dec 27, 2019, 10:38PM UTC

Bakkt promotes chief product officer Mike Blandina to CEO 

Bakkt, a bitcoin-focused subsidiary of Intercontinental Exchange (ICE), has promoted its chief product officer Mike Blandina to chief executive officer (CEO). Blandina has succeeded Kelly Loeffler, who was officially appointed to the U.S. Senate earlier this month by Georgia Governor Brian Kemp. Blandina assumed the new role on Dec. 20.  “As CEO, Mike will chart […]
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Dec 23, 2019, 2:00PM UTC