Adam White rumored to join Bakkt platform

Posted 12 October, 2018

Adam White, the former employee of US-based Coinbase platform, rumored to join Bakkt exchange, as reported the media citing sources close to the situation.

The Bakkt is the project of Intercontinental Exchange (ICE), New York Stock Exchange operator, announced the new trading platform back in August, while the startup is slated for this November. The Bakkt has got support from such market giants as Microsoft and Starbucks. As the company commented earlier, the project is believed to become "an open regulated ecosystem of digital assets, using the cloud service of Microsoft."

Adam White was reported to leave Coinbase office in early October, while the new COO of the exchange will be Jonathan Kellner, ex-CEO of Instinet. White was the fifth employee in Coinbase.

Bakkt stated in late September that the first products would be physically delivered Bitcoin futures contracts, with the support of three fiats (US dollar, euro and sterling). Bakkt CEO noted recently, that they planned to promote the exchange and lure users via ICE's regulated futures market infrastructure powered by new products in this segment. Thus, the company is waiting for the corresponding approval from the US authorities.

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12 October, 2018 14:46

← US FinCen attacks Iranian attempts to avoid US sanctions via cryptos

The US Financial Crimes Enforcement Network (FinCEN) has issued a notice asking US exchanges not to support Iran and assist Tehran in using cryptos to avoid the effective sanctions against the country. "The Iranian regime has long used front and shell companies to financial systems around the world to generate revenues and transfer funds in support of malign conduct, which includes support to terrorist groups, ballistic missile development, human rights abuses, support to the Syrian regime, and other destabilizing actions targeted by U.S. sanctions," the report reads. Annual bitcoin turnover by Iran amounts at least to $3.8 million. The volume of the used coins is obviously small in Iran, though "virtual currency is an emerging payment system that may provide potential avenues for individuals and entities to evade sanctions."

US FinCen attacks Iranian attempts to avoid US sanctions via cryptos

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12 October, 2018 11:10

BK Global Consortium becomes major shareholder in Bithumb →

The major crypto trading platform in South Korea – Bithumb – reportedly sold 38% stake to Singapore's BK Global Consortium, the investment division of BK Global holding. The companies signed the agreement on Thursday, October 11, as Bithumb representative confirmed. Under the contract, BTC Holdings Company (76% interest in Bithumb) sells 50%+1 share in the platform to investment blockchain division of BK Global, BK Global Consortium. As a result, BK Global will become the major shareholder of the South Korean crypto exchange. The contract cost amounts to some $880 million (JPY 1 trillion).

BK Global Consortium becomes major shareholder in Bithumb
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