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Monday, November 13, 2017

CME Ceo: Millions of dollars from Wall Street could hit the cryptocurrency market as soon as December!


Speaking today with CNBC, CME Group chairman and CEO Terry Duffy says they aim to be offering Bitcoin futures to their investors as soon as December!

He also spoke about how they will structure their investments and risk management.

"Listen, when someone says to me, 'the price is going to zero, what are you going to do?' I'm not going to let it go to zero, I'm going to implement something." he says.

CME's venture into the cryptocurrency space also brings about something new - shorting Bitcoin.  That is, betting it will decline in value.

On that topic, Duffy says "We have the longs, we have the shorts, we'll match them up at a price and that's the way our rules read today."

We all knew Wall Street was coming - they're now at the doorstep, and are about to come in.

Reactions are a mixture of warm welcomes and fears that wherever Wall Street goes, government regulators are right behind them. 

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Author: Justin Derbek
New York News Desk