August 2 2019

LedgerX Caught Cheating 😱🛑

On Thursday (August 1), the United States Commodity Futures Trading Commission (CFTC) issued a statement that they never not gave its official permission to the LedgerX cryptocurrency derivatives provider to launch circulation of Bitcoin futures that do not correspond to the company’s statements 🏦

Recall that on July 31, LedgerX reported on the allegedly successful start of trading these tools, with pathos stating that they are the first American company that launched trading in delivery Bitcoin futures. 🎲

In a press release, the company claimed that henceforth all residents of the United States from small retailers to large institutional players were able to make deals with futures and options through the Omni trading terminal. 📰

In addition, the company’s customers were given the opportunity not to invest using US dollars transactions, but to use bitcoins as collateral for their deposits. 🏦

As I reported before in the previous video you can see below. 📜

LedgerX CEO Paul Chow:“Contracts not only have physical delivery in the sense that our customers can get Bitcoins after the expiration of the futures, but first of all they give the opportunity to make Bitcoins as collateral for trading.”📝

Incomprehensible situation with the regulator may result in reputational losses for LedgerX. If the CFTC’s (Commodity Futures Trading Commission’s) permission cannot be obtained soon, it may be done by the parent company of the New York Stock Exchange and the operator of the Bakkt cryptocurrency platform – Intercontinental Exchange (ICE), which has already announced its intention to launch a similar product after obtaining permission from the Commodity Futures Trading Commission USA. 📝

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Posted 02.08.2019 by admin in category "Crypto World News