NYSE Owner Plans Bitcoin Trading Platform
Content adapted from this Zerohedge.com article : Source
Wall Street keeps moving closer to getting into cryptocurrency.
This is the second major Wall Street institution to announce the intention to open a Bitcoin trading platform.
Authored by William Suberg via CoinTelegraph.com,
The owner of the New York Stock Exchange (NYSE) is mulling letting customers buy and hold Bitcoin, The New York Times reported late Monday, May 7.
The move would be the second Wall Street giant in a week to reportedly open up to crypto.
image courtesy of CoinTelegraph
As the New York Times reports, citing "emails and documents" as well as four anonymous sources, NYSE owner Intercontinental Exchange (ICE) is planning to offer traders contracts that eventually result in customers owning the cryptocurrency.
The news comes just days after the publication quoted a Goldman Sachs executive, who appeared to confirm the bank would debut Bitcoin futures "within weeks".
ICE "has had conversations with other financial institutions about setting up a new operation through which banks can buy a contract, known as a swap, that will end with the customer owning Bitcoin the next day- with the backing and security of the exchange," the Times wrote late Monday.
Should the move go ahead, ICE and Goldman would join an increasingly large chunk of traditional finance engaging with cryptocurrency. Other recent players now include NASDAQ, which announced it would be "open" to establishing a cryptocurrency trading platform in future.
The positions further contrast sharply with contradicting industry perspectives currently hitting the headlines, such as comments from Berkshire Hathaway CEO Warren Buffett, who this week likened Bitcoin to "rat poison."
Bill Gates meanwhile adopted a more curious halfway position, telling CNBC yesterday that although trading Bitcoin was a "greater fool" activity, he would still_"short it if there was an easy way to do it."_
Non-adapted content found at zerohedge.com: Source
and yet the prices remain low, shouldn't news like this cause huge rallies?? Like BTC doubling in a day type rallies? After all BTC did that on countless prior occasions without any news and now it's just stuck in the mud. not sure what it will take to get it moving at this point
Agree. No crypto's are moving. Are people panicked? They just need to rest easy and ride it out. Nothing in the news has pointed to negativity - except for maybe ripple.
I dropped a chunk of change on enigma this morning because it was the only performer in the green. Still is but has taken a bit of a tumble in the past hour or two.
the only explanation is really a global conspiracy to keep the prices down while the big boys accumulate. There has been more good news in the past 5 months pointing to the reality of crypto than the past 10 yrs combined....and yet no upward movement in fact we are at about HALF of all time highs. Perhaps the crash scared many people off and prevented new entrants, but still, powerful forces have to be at work to have kept prices down for so long while crypto is at it's biggest exposure to date and is more real than ever....the crypto market cap should be multiples of what it is now, and if it does succeed there will be a point when many billions or trillions of dollars flood in during a short period of time and coins skyrocket. But as time passes with this sideways action it's either going to explode harder or implode, and the result will be more extreme as time passes, like a volcano building
bitcoin it's king and stronger