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Bakkt furthers acquisitions, pushes for increased manpower in anticipation of imminent launch




Bakkt furthers acquisitions, pushes for increased manpower in anticipation of imminent launch
Source: Unsplash

Bakkt, the highly anticipated digital asset exchange backed by the New York Stock Exchange [NYSE] and the Intercontinental Exchange [ICE] has announced that it has acquired the Rosenthal Collins Group [RCG] in order to increase their staff ahead of their launch.

Announced via a tweet, the digital assets platform acknowledged the rich heritage and experience that the RCG will bring. The Rosenthal Collins Group is a futures brokerage business, headquartered in Chicago with several institutional grade services like trade execution, risk management, market commentary and others provided by the company founded in 1923.

The tweet in full read:

“With today’s closing of our transaction with Rosenthal Collins Group, we welcome great new team members to Bakkt RCG’s remarkable heritage, culture and expertise will help us build out a trusted institutional infrastructure for digital assets.”

The RCG group had affirmed in December 2018 that they were planning on selling their customer accounts to Marex Spectron, but then the digital assets platform steeped in to increase its foothold in the market and set its sight on acquiring RCG.

Kelly Loeffler, the CEO of Bakkt informed their investors and the larger community that are waiting anxiously for the launch, regarding the acquisition of RCG back in mid-January when the decision was taken.

In addition to the news of the acquisition, Bakkt also announced the introduction of two-top executives. Erik Haas, the new Director of Compliance will move in from the Intercontinental Exchange [ICE], a primary backer of ICE, and will bring with him nine years of experience dealing with regulators. The platform also welcomed Rachel Ford from Techstars as the Strategic Operations Manager.

Additionally, Bakkt has a further 10 positions opened in the fields of Engineering, Finance, and Sales. The positions are available for the following locations, Atlanta, New York, San Francisco, London, Tel Aviv, Singapore, Hong Kong, Singapore, and Tokyo.

Bakkt was set to launch in January 2019 based on last year’s developments with the concerned authorities but due to the government shutdown in the United States, the platform’s launch will be delayed. The 35-day government shutdown which is now on pause prevented Bakkt from seeking the necessary approval from the Commodities Future Trading Commission [CFTC] to launch their platform and is now looking to launch the product in the first quarter of 2019 i.e. between January to March.

Some Twitter users didn’t take too kindly to Bakkts’ constant delay in their launch, with a user @TheyLive22 tweeting:

“Scam. We know BAKKT is being used as a tool to bring down the price of Bitcoin, by pushing back the release date. People behind BAKKT figure if BTC starts to rally, they can say BAKKT has been denied/it’s release date is being pushed back to cause a drop in the Bitcoin price.”

A twitter user @xrp_australia, once again, warned Bakkt not to delay the launch, adding that if they do, other competitors will take the institutional investors:

“An old saying goes if you snooze you loose. If they don’t pull their finger out soon Fidelity and SBI will be taking all the cream.”

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John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more





John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
Source: Unsplash

Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!

4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!

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