Tim McCourt: stop blaming futures in the collapse of bitcoin
A clear opinion on the impact of bitcoin futures on cryptoamnesia no. Federal reserve Bank of San Francisco believes that the launch of these instruments on the Chicago Mercantile exchange (CME) and Chicago Board options exchange (CBOE) has led to the collapse rate of the cue in January 2018, and Tim McCourt, managing Director of CME Group assures that reduce the cost of the crypts futures have nothing to do. Agree, it would be strange, think about it differently.
Speaking at the FINTECH conference Consensus Singapore 2018, McCourt, as expected, played a lawyer tied to bitcoin of arbitrary financial instruments. “Bitcoin futures is only a small part of the market,’ said Tim.
McCourt believes that futures attract money in CryptoStor, as the market for cryptocurrency derivatives is growing. Especially actively developing the Asian market segment bitcoin futures.
“40% of our futures bitcoin sold outside the United States, and half of them in Asia,” said McCourt.
From managing Director of CME Group a good speechwriter. The Chicago Mercantile exchange launched futures “in response to demand from market participants who wanted to trade cryptocurrency products on a regulated exchange,” said Tim.
“They wanted to take over the management of the risks associated with futures to traders with easier and more convenient to work with these products, explains McCourt”.
That’s it! Themselves asked, why now complain.