Need More Derivatives in the Global Crypto Space
If you’re connected with me on LinkedIn, you know I’m about all things blockchain, crypto, and Chicago. So this little gem of a story on Bloomberg certainly caught my eye: Trading Technologies, the futures and options software behemoth based here, made an investment recently alongside Bitcoin Jesus (aka Roger Ver) in a startup called CoinFLEX, led by Mark Lamb. According to Bloomberg: “CoinFLEX, will offer futures contracts for Bitcoin, Bitcoin Cash, and Ethereum that can be leveraged up to 20 times. The exchange will likely draw comparisons with, and seek to take business from, BitMEX, one of the largest crypto trading platforms, which has a sizable presence in Hong Kong and was co-founded by former Citigroup Inc. trader Arthur Hayes. BitMEX offers leverage of up to 100 times on some of its contracts.” I’m an ardent advocate of the need for more futures & options derivatives in the global crypto space. I could care less about whether or not ETFs get approved – it doesn’t really matter. What does matter is if industry players can lay off risks and a robust offering mix with derivatives like the ones CoinFLEX reportedly is planning to offer will do wonders for building confidence in this burgeoning space. Congrats to TT and COINFlex on their new deal. Outside the box = good.