Crypto News | Bitcoin futures trading gaining ground

It would seem that Bitcoin futures trading is about to become a whole lot more popular. Goldman Sachs, one of the largest investment banks in the world, has decided that it will enter this particular market and use its own money to make investments on behalf of its clients. We still do not know the date when this venture will start, but there is absolutely no doubt that it’s starting since the board of directors has given its approval. Rana Yared, an executive in the bank, has stated that the decision to enter the Bitcoin futures trading is a result of their clients’ constant interest in Bitcoin. It is interesting to see that Goldman Sachs has been constantly getting more involved in the cryptocurrency market, so we expect more moves like this from them in the near future.

However, it’s not all sunshine and butterflies in this branch of the market. China’s national radio spoke against Bitcoin futures trading offered by OKEx, a cryptocurrency exchange based in Hong Kong. The radio, which can be considered a voice of the government, expressed serious doubts about the legality of the whole operation. It seems that the whole problem is that the exchange offered these services to people in other parts of China. The company also claimed to move overseas, which also seems to be incorrect because, while they are regulated in Belize, their headquarters is still in Hong Kong. For now, there are no comments from the exchange, so we have to wait and see how all of this will play out.

You may remember that we wrote here how Reddit is giving up on Bitcoin about a month and a half ago. Well, it turns out that that was only a temporary setback. Chris Slowe, the main in charge of technology on that platform, has stated that Bitcoin will indeed make a comeback once the redesign of the website is complete. Gold members will have the opportunity to use it, but that will not be the only cryptocurrency option they have. More specifically, Ethereum and Litecoin connected to Coinbase seem to be the main targets at the moment. Whether or not any other options emerge, remains to be seen, but it is definitely not out of the question. The new Coinbase Commerce system should play a key role in all of this, so we can’t wait to see the end result. 

That’s all we have for you today, folks. The cryptocurrency market is booming, so there will definitely be more things to follow tomorrow, which means we’ll see you again here very soon. Don’t forget to check out our other crypto-related articles, and until next time – happy trading!


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Author: Max Rothstein

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