Bakkt Competitor Coinflex Sees Investments From Polychain and Digital Currency Group

Digital Currency Group and Polychain Capital have become the latest high-profile investors in the physically-delivered crypto futures exchange Coinflex.  Coinflex Gaining Steam Coinflex presents itself as the world’s first physically-delivered cryptocurrency futures exchange. According to a press release, the platform has managed to attract two more high-profile investors in the face of Barry Silbert’s Digital Currency Group and Polychain Capital. They…

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Bitcoin for Starbucks Coffee Poses Significant Tax Filing Issues

Using Bitcoin to pay for coffee at Starbucks might come with some difficult implications as far tax filings are concerned.  Increased Bitcoin Tax Filing Palaver As reported by Bitcoinist, part of the Bakkt launch will see the adoption of Bitcoin payment for coffee at Starbucks. Reports indicate that Starbucks had received a significant stake in Bakkt in exchange for allowing people…

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Starbucks Will Support Bakkt After ‘Disproportionately High’ Equity Deal

Bakkt, the New York Stock Exchange’s (NYSE) forthcoming cryptocurrency trading platform, will — in fact — feature Starbucks payments for users. ‘Coffee-For-Bakkt?’ This is according to an anonymous source familiar with a deal between Bakkt and its early-stage partner, which will see the latter accept the service in payment for its in-store products. The source was speaking to cryptocurrency news publication…

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Novogratz: Institutional Money Coming in the Next 6-12 Months

Former Wall Street hedge fund manager and popular Bitcoin proponent Mike Novogratz thinks that institutional money will start coming into the cryptocurrency market in the next 6 to 12 months as custody solutions are rolled out.  They Won’t “Rush In on Day One” Speaking on Bloomberg Daybreak: Middle East, the CEO at Galaxy Digital laid out his current position on Bitcoin and the…

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Bitcoin Will ‘Unequivocally’ Survive, Says NYSE Chairman

Jeff Sprecher, Chairman of the New York Stock Exchange, stated his belief in the future existence of bitcoin and cryptocurrencies. Answering the question, ‘Will digital assets survive?’ he said, “The unequivocal answer is ‘Yes’.” In Need of Reassurance Following yesterday’s news that Allianz’s Chief Economic Adviser is vouching for the longevity of bitcoin, NYSE Chairman, Sprecher, has stepped in to back…

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Ethereum Futures? Bakkt Hints It’s Open To Altcoins

Intercontinental Exchange’s delayed cryptocurrency “regulated ecosystem” Bakkt is already mulling the future addition of altcoins, the company hinted November 23. Bakkt: We’ll ‘Consider’ Non-Bitcoin Contracts In a tweet, executives said they would take into account “customer feedback” as a major motivating force when deciding which cryptocurrencies to support in addition to Bitcoin. Bakkt had eyed December 12 as a launch date…

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Is It Over Yet? Bitcoin Falls Under $4000 Hitting 14-Month Low

Bitcoin price fell through $4,000 support to reach a 14 month low not seen since September 2017, losing 30% in the past week alone.  Bitcoin Must Be Dead Now, Surely Bitcoin, known as the ‘honey badger’ of money for its resilience, has taken quite a beating in the past weeks, while some asking if this time is different — and if…

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Bakkt: ‘Bitcoin’s Profile Creates a Liquid Product on Which to Build’

Bakkt says Bitcoin’s status as a commodity, as well as its high customer demand, are the primary reasons for choosing to begin its cryptocurrency futures trading with Bitcoin. Meanwhile, the platform recently postponed the launch of its BTC futures contract to January 2019. Bitcoin is King In a tweet published on Wednesday (November 21, 2018), Bakkt provided answers to why it…

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Bitcoin Price Bounces as Cryptocurrency Market Sees Relief Rally

Cryptocurrency markets staged a modest relief rally November 21 as the impact of news trading platform Bakkt had pushed back its launch subsided. Markets Shrug Off Bakkt And Bitcoin Cash Led by Bitcoin Cash , the fourth largest cryptocurrency by market cap which lost 50 percent of its value Monday, the twenty major cryptoassets all made gains on the day, the only…

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Bakkt Launch Next Month May Not End Bear Market

Intercontinental Exchange’s “regulated ecosystem” for Bakkt should launch December 12, but “lingering concerns” remain, industry figures warn this week. ‘Lingering Concerns’ Over Long-Term Plans In a series of tweets, securities lawyer and regular social media commentator Jake Chervinsky summarized the gaps in public knowledge about Bakkt, which is still awaiting regulatory permission to begin operations. “In the minds of many, Bakkt’s…

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