Shaurya Malwa · 16 hours ago · 2 min read
As Bakkt’s second CEO exits firm, questions rise about the hyped Bitcoin “catalyst”
Bakkt, the Intercontinental Exchange (ICE) crypto subsidiary, suffered its second high-profile executive exit last week after CEO Mike Blandina stepped down.
Former Bakkt CEO accused of insider trading after attending a private January congressional hearing on Coronavirus
Junior United States Senator and former CEO of Bakkt Kelly Loeffler disclosed dumping millions of dollars worth of stock holdings in the days and weeks following a private senators-only briefing on the Coronavirus in late January, as reported by The Daily Beast.
This news proves the crypto industry isn’t dead even after Bitcoin’s 50% crash last week
Glancing at Bitcoin’s price performance over the past week, punctuated by a 50 percent decline on the days March 12 and 13, it’s easy to say that “crypto is dead.” Case in point: Peter Brandt, a long-time commodities trader that once said BTC could hit $50,000 and beyond, recently argued that if he looks at […]
Real Bitcoin volume is exploding as seen in Bakkt, fueling the crypto rally
The daily volume of the Bakkt Bitcoin futures market has been on a consistent rise since mid-January.
More Bakkt futures contracts are settled in Bitcoin than in cash
According to the latest data from Skew, the volume of Bakkt’s physically-settled futures exceed the volume of its cash-settled product.
Industry exec: this is why Bakkt is struggling to take off against top Bitcoin exchanges
Despite its hype in the latter half of 2019, the performance of Bakkt has been lackluster to say the least.
Bakkt open interest hits all-time-high as futures traders continue to bet on Bitcoin buy streak
As Bitcoin closed out its best January in seven years, open interest rocketed to a new all-time high on Bakkt’s physically-settled Bitcoin futures market, and institutional traders on CME Group looked to position themselves for higher highs.
Is Bakkt’s lack of Bitcoin options trading volume a sign of trouble for the crypto markets?
The launch of Bakkt – the physically settled Bitcoin futures trading platform – was long viewed as a bullish fundamental catalyst that would help usher in the next era of institutional adoption into the nascent crypto markets.
Futures data suggests latest Bitcoin rally is just short-covering, most Bakkt contracts aren’t being settled
A massive drop in open interest on the CME and Bakkt Bitcoin futures contracts indicates short-covering has fueled BTC’s latest rally, likely egged on by the expiry of Bakkt’s December contract.