Georgia Governor Brian Kemp has appointed Kelly Loeffler, CEO of institutional Bitcoin (BTC) futures platform Bakkt, to a United States Senate seat.
With the appointment, Loeffler will replace Sen. Johnny Isakson (R-GA), who plans to retire at the end of the year, the Washington Post reported on Dec. 4. A person familiar with the matter, shared Loeffler’s remarks with the publication, in which she ostensibly said:
“I haven’t spent my life trying to get to Washington. But here’s what folks are gonna find out about me: I’m a lifelong conservative. Pro-Second Amendment. Pro-military. Pro-wall. And pro-Trump. I make no apologies for my conservative values, and will proudly support President Trump’s conservative judges.”
As previously reported by Cointelegraph, various party leaders, including President Donald Trump, reportedly pressed Kemp to choose U.S. representative Doug Collins instead, purportedly given his strong support for Trump, gun rights and anti-abortion efforts.
The President and many among his followers are not sold on Loeffler, viewing her as too moderate. Previously, Kemp reportedly met with the President and Loeffler in a bid to obtain Trump’s approval of his pick for the Senate seat but to no avail.
Bakkt’s recent developments
In the meantime, Bitcoin futures open interest on the Bakkt platform hit a new all-time high of $6.5 million on Dec. 3. The reported open interest was a 42% increase from the previous day, which had been an all-time high as well.
Also, Bakkt is planning to launch the first regulated options contract for Bitcoin futures on Dec. 9. The new options product is based on customer feedback, explained Loeffler, and is designed to hedge or gain bitcoin exposure. Bakkt added:
“ICE Futures U.S. has self-certified the contract with the CFTC and we’re excited to leverage the benchmark futures prices and institutional-grade custody to meet the needs for a regulated options contract.”
If reproduced, please indicate the source: https://www.uucj.net/bakkt-ceo-kelly-loeffler-appointed-to-us-senate-seat/
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Bitcoin pennant pattern breakout aims for $8,800 and the run-up to $9,200. Bitcoin price technical level align for another bullish action likely to step past $8,800 in the short-term. Bitcoin embraced a good start of the week after the recovery from the ‘crypt’ it had dived into last week. Impressively, the world’s largest cryptocurrency defended the key support at $8,200 on Friday last week. The congestion of the bulls at this zone sent Bitcoin upwards over the weekend. Bitcoin bombarded the resistance at $8,400 and that at $8,400. Continued bullish action on Monday pulled BTC above $8,600 and closed in on the next hurdle at$8,700. However, the crypto hit the pause button at $8,695, leaving the critical level untouched. Bullish Pennant Pattern The formation of a pennant pattern gave bitcoin an incredible boost as on the 4-hour chart. Bitcoin. The breakout just under $8,400 resistance contributed immensely to the ongoing bullish phase. Besides, the jump above the 50 Moving Average cemented the bulls’ position on the market. BTC/USD 4-hour chart…Jan 27, 2020
The NAHB housing market index remained close to its high in January, fueled the strongest bounce in mortgage applications in 11 years. As millennials make up the majority of mortgage applications, the extent of this generation’s desire to own homes is becoming apparent. Can the U.S. housing market crash when young people are clamoring for real estate and supply is so low? Homeowners cheered a slew of positive data this week, as fears about a U.S. housing market crash continue to clash with the macro data. The NAHB housing market index (HIM) stayed close to a two-decade high, and demand remains strong. A 30% bounce in mortgage applications was the highest in more than a decade. What’s behind this spike? A mass of millennial buying. U.S Housing Market Looks Strong As Mortgage Applications Spike It isn’t surprising that home prices remain strong when you consider that supply continues to dwindle. Baby boomers are slow to sell, and millennials are desperate to buy. Throw into this mix that the U.S. economy continues to drive decent wage growth in the low inflation,…Jan 18, 2020
Remote work can be a difficult adjustment for teams accustomed to working in an office setting. Here are some tips.(Charles Deluvio/Unsplash) As part of the fight against COVID-19, Canada is urging “employees at all work sites … to work remotely whenever and wherever possible.” Although we might find comfort in thinking switching between office and remote work is mostly an IT problem, three decades of management research on telecommuting tells us that the real challenges are just starting. Thousands of teams across Canada are going through the difficult transition of redefining the way they function. How teams tackle these challenges will have profound consequences on their productivity and the well-being of their members. Below are three challenges teams will face, and practical recommendations on how to mitigate their effects. Redefining communication norms Office workers share a large amount of information in person — they stop by each others’ office to get advice, clarify expectations over coffee or gather by the water cooler to talk. Research shows that informal discussions help employees understand what’s happening on their teams and keep feelings…Apr 6, 2020
Mining reward halvings are a hot topic in the crypto markets, as they alter a cryptocurrency’s supply and often have a significant impact on prices. Bitcoin, the biggest cryptocurrency by market value, underwent its third halving on May 11, which reduced the reward per block mined to 6.25 bitcoin from 12.5. Bitcoin offshoots bitcoin cash and bitcoin SV also witnessed halvings in April. Next in line is zcash (ZEC), a privacy-focused cryptocurrency first created in 2016 that uses a proof-of-work (or mining) algorithm and encrypts user information within shielded transactions. Currently, it is the 26th largest cryptocurrency by market value, as per data source CoinMarketCap. Rewards per block mined on the zcash blockchain – launched and supported by the Electric Coin Company – are scheduled to be cut by 50% from the current 12.5 ZEC to 6.25 ZEC at block 1,046,400 this year. Zcash’s first ever halving, the block subsidy reduction is expected to happen sometime in November. High-inflation crypto While ZEC’s supply is capped at 21 million like bitcoin, its inflation rate is significantly higher than other major cryptocurrencies. Cryptocurrency…May 25, 2020
On Tuesday Bitcoin price (BTC) pushed through $8,600 and rallied all the way to $8,859 before taking what appears to be a breather near $8,750. As reported earlier by Cointelegraph, crypto analyst Tone Vays predicted that if Bitcoin price gained above $8,600, $8,800 would serve as the next level of stiff resistance. At the time of writing Bitcoin is up 7.74% for the day and it appears that a strong trend reversal is in the making as the price has sustained above the descending channel trendline for the last 20-hours. Cryptocurrency market weekly overview. Source: Coin360 Altcoins also steadfastly followed Bitcoin’s strong upswing, leading a number of top-10 cryptocurrencies to post double-digit gains. Bitcoin SV (BSV) is the most notable gainer with a 93.63% gain and earlier in the day the altcoin flipped positions with Bitcoin Cash (BCH) but at the time of writing the two are neck and neck for the fourth spot. If BSV flips BCH again the altcoin will be the fourth largest cryptocurrency with a market capitalization of $5.56 billion. To date, BSV is now up…Jan 15, 2020
Apr 10, 2020 at 10:21 // News Binance announced the acquisition of CoinMarketCap which will now officially become its daughter company. Although CoinMarketCap has claimed to remain independent, the community anticipates there might be changes in its operation. On April 2, Binance, the world largest cryptocurrency exchange in terms of trading volume, reached an agreement to acquire CoinMarketCap, a global leader in crypto-asset tracking data. Both companies mention common strategic vision as the main reason behind the deal. They keep the promise to foster cryptocurrency accessibility for the public and bring more transparency into the industry. Ins and outs of the new agreement Binance made a public announcement that CoinMarketCap will be acquired in what is referred to as a “landmark deal”, where the collaborative union will bring more opportunities for industry growth and mutual benefit. The CEO of Binance, Changpeng Zhao (CZ), describes the development in the following way: “The core DNA of CoinMarketCap is strongly aligned with Binance’s ethics and culture, from its integrity to its value of freedom, transparency and user-focus. Our common vision will be strengthened…Apr 10, 2020
The South Korean crypto ban placed back in 2017 was a breach of fundamental rights, holds the arguments in a recent public plea. South Korean Government Placed Multiple Restrictions on Trading, ICOs South Korea moved in to curb the activity of exchanges, stemming the inflow of fiat to those markets. The ban, which happened near the peak of the 2017 bull market, added to the loss of value. South Korean investors have moved into crypto assets as a way to hedge a decade of sluggish economic growth. But locals have also shown propensity for other fast-returns investment schemes, causing the government to react and limit crypto investments. Because of disputes regarding limitations to local crypto exchanges, the Constitutional Court will open a public plea period this January 16. The hearings will reveal public attitudes and intentions to trade cryptocurrencies, reported the Korean outlet Tokenpost. The hearing was brought about by the filings of 347 individuals, claiming a limitation to their civil rights, due to curbs in crypto trading. “Regulation infringes on the right to equality and the pursuit of happiness,” said…Jan 17, 2020
Heath Tarbert who is the chairman of the U.S. Commodities and Futures Trading Commission (CFTC) recently indicated his indecisiveness on the status of Facebook’s Libra either as a security or a commodity. He said this to sources on the sidelines of the CME Group Global Financial Leadership conference on Tuesday. Tarbert indicated the U.S. government’s position on cryptocurrencies and their underlying blockchain technology while explaining how the country is handling the issues surrounding the technology. It appears that Mr. Tarbert has been misquoted during the interview having contrasted Bitcoin’s existence with Libra. While Bitcoin has been around for a decade Libra is still in its infancy as per development. He said that the CFTC is “able to classify that not as a security but as a commodity” and added: “Libra is developing and there are a bunch of unanswered questions – and also the way that it’s structured, linking it directly to a set of national currencies – a very different product.” This, of course, is a fundamentally different position from his predecessor Gary Gensler who had previously indicated that…Nov 21, 2019
ArcBlock, a blockchain development platform and decentralized identity provider, today released a new user experience demo that showcases how users buy and sell tickets; enables companies and developers to add the ability for their users to buy and sell tickets supporting B2C, B2B, and peer-to-peer transactions. The purpose of ArcBlock’s demo is to show live applications of decentralized identity through interactive demos, developer-ready tools, and training. The ticket demo can be built in less than 5-minutes using ArcBlock’s Blocklets and its blockchain platform. Ticket Marketplace Solution Today’s digital ticket is mired with problems with many users being taken advantage of by ticket companies who often charge excessive fees, have hidden, complex purchasing processes that are based on a wide range of factors that impact price and availability, are nearly impossible to resell outside of using the ticket providers preferred vendor who charges additional fees, and potential to purchase fake, scalped or fraudulent tickets that are useless at the event. And for many users, there is little to no transparency in the ticket process. It’s easy to see why blockchain technology…Mar 23, 2020
California Governor Gavin Newsom warned the public against Bitcoin (BTC) fraudsters during his live speech about the coronavirus outbreak. On March 26, Newsom mentioned the leading cryptocurrency as part of his official speech about what measures had been taken by the state to prevent the further spread of the virus in California. Newsom went on raising the public’s awareness and understanding that “extraordinary people, who do extraordinary bad things,” are apparently taking advantage of the pandemic, and further explained: “That doesn’t just include an interface with the government, but people claiming that we need to send the equivalent of Bitcoin in advance to get some materials before they can send them. Questionable activities like that.” Crypto fraudsters try to benefit on the coronavirus-driven panic Newsom thus joined the ranks of other global authorities, who are concerned of cryptocurrency fraudsters trying to capitalize on the widespread coronavirus fears. More recently, the United States Commodity Futures Trading Commission cautioned the public that scammers commonly use major news events like the spread of COVID-19 in order to add credibility to their scam schemes…Mar 26, 2020