BAKKT announced on Monday that the first financing tour was completed and a amount of $ 182.5 million was reached. The platform, which aims to present the first Bitcoin -adapted futures contracts next year, says that they continue to act within the framework of their own plans, regardless of existing market conditions.
On the other hand, as we have already mentioned, the company had to postpone futures Bitcoin transactions in accordance with the laws in the US.
Funded amount from investors with high profiles: 182.5 million dollars
Bakkt CEO, published on Monday, December 31, 2018 by Bakkt CEO, announced that BAKKT CEO has successfully performed the company’s first financing tour. According to the announcement, 12 investors participated in the capital increase application.
CEO gives the list of investors, including some big names:
Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinkh Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Intercontinental Exchange, Microsoft’s venture capital handle, M12, Pantera Capital, Payu, Naspers Protocol Ventures.
Very excited to have participated in @Bakkt’s first round of funding. We anticipate Bakkt to emerge as a leading digital asset exchange and trusted institutional-grade custodian in the developing #crypto market. https://t.co/79LX6gTXP8
— Pantera Capital (@PanteraCapital) December 31, 2018
Bakkt is moving despite the market market
According to Loeffler, the status quo did not change despite the long bear market characterizing the crypto currency in 2018. The company wants to continue to place customers in appropriate positions and to cooperate with the relevant business partners.
Stating that Bakkt will keep his words and solve problems in the process, Loeffler says:
We have worked to build new markets and products many times before. The people who built BAKKT have proved that we were sufficient and competent in this regard by helping the markets from energy to credit derivatives and now to Bitcoin. The way to develop new markets is rarely linear: the progress process tends to make changes to the settings between innovation, dismissal, re -invention and ultimately acceptance.
According to Loeffler, focusing on Bitcoin’s current value, $ 3744.09 + 0.28 %, means a distraction of attention caused by groundbreaking developments with Bitcoin as a whole. Bakkt CEO also says that technological breakthroughs that change paradigm have a long incubation time and the price is not always the best measure to measure growth.
2018 most active year
In particular, 2018 is one of the most active years for crypto currency in its short history of ten years. This is also proven by Blockchain network measurements such as distributed book technology and investment in digital assets, as well as daily Bitcoin trading value and active addresses. Nevertheless, these milestones tend to focus more on the price of Bitcoin.
BAKKT announced that there will be a postponement by changing the phrase “January” to “the beginnings of 2019”.
Bakkt and Commodity Futures Transactions Trade Commission (CFTC) continues to develop methods for the initiation of BTC -futures trading contracts. However, the US government’s closure of all non -compulsory federal services by suspending its work shows that the BTC -Wistened Term Trading Agreements, which are planned to be launched in January 2019, are postponed with the phrase “to the beginning of 2019”.
In the official statement published on December 31, he says:
After the consultation with the Commodity Futures Trade Commission, ICE FUTURES US, Inc. BAKKT Bitcoin (USD) is waiting to offer an updated launch timing in early 2019 for trading, exchange and storage of the daily term transactions contract. The launch was previously set for January 24, 2019, but will be changed in accordance with the process and timeline of the CFTC.
Furthermore it says
'The launch had previously been set for January 24, 2019, but will be amended pursuant to the
CFTC’s process and timeline.'So if the CFTC release early BAKKT will be released early. Lol.
Fud by Coindesk. Thank you #dudegang for clearing it out.
— The Dude (@thedude0ne) December 31, 2018
The platform says that during the waiting phase of the CFTC approval, it strengthens its institutional -graded infrastructure and will continue to make customers’ transactions.
Looking at the description of Bakkt, the stock market, which announced that it will launch the futures contracts of Bitcoin on 24 January 2019, postponed these transactions.
Bakkt, which has already given a clear date, does not make a clear statement about which date it has postponed. The expression “The beginning of 2019” is the greatest proof that a clear date of postponement has not been given. Let’s see if Bakkt will explain a new clear date in the coming days.
