While speaking at a closed event in Tel-Aviv, Adam White, the newly promoted head of the Bakkt futures exchange, said that regulators would not allow crypto exchanges like BitMex and Bybit run unsupervised forever. Adam White had previously served as the Chief Operating Officer of the world’s first regulated exchange that offers bitcoin futures with physical delivery.
Regulators will not allow exchanges to operate unregulated forever.
Adam White said that they see trading platforms oversees operating on unregulated venues with very little KYC, no AML. He added that these days are not going to last forever. Regulators are slow, but they are persistent, and they will not allow this to happen indefinitely, he added. Adam, when asked about new crypto contracts, he replied that they want to be able to store anything their customers want.
Bakkt Trading Volumes slump
ICE owned Bakkt saw a rather dull performance last week. Newly launched bitcoin options saw zero trading volumes last week, January 20-24. According to data from Skew, Bakkt has seen no trading for its options in the last ten days. According to Bakkt Volume Bot, 1204 contracts worth $11.57 million were traded on the platform on Tuesday, 44% lower than what it traded on Monday.
Tuesday's Bakkt Bitcoin Monthly Futures:
📉 Traded contracts: 1204 ($11.57 million, -44%)
🚀 All time high: 6601 (12/18/2019)
💰 Open interest: $8.83 million (+43%)
— Bakkt Volume Bot (@BakktBot) January 29, 2020