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ErisX at CFTC: Ethereum Futures would be positive
Last year, while the crypto market had rocked, ErisX, immediately considered a potential competitor of Bakkt, was unveiled to the desperate community of Bitcoins. Yet since the newcomer made the headlines, the company, which has strategic partnerships with Bitmain, ConsenSys, the group Digital Currency, Nasdaq, TD Ameritrade, among other groups, has published little information public information about its activities.
But ErisX's head, Thomas Chippas, a Wall Street legend that once a member of Citadel's C-suites / boards, Citi, Barclays and Deutsche Bank, had recently sent a letter to the Commodity Futures Trading Commission ( CFTC) highlighting the importance of Ethereum futures.
The traditional market veteran simply stated that the introduction of a "regulated futures contract" on Ether would have a "positive impact" on both the badet ecosystem and the underlying market. Chippas added that the CFTC "plays an important and vital role" by allowing investors, whether they come from institutions or consumers, to participate in the ecosystem and the environment. Ethereum market.
The head of ErisX even hinted that it made sense that TCRC commissioners, who have obviously expressed their love for Bitcoin, accept the registration of such a vehicle. Chippas, he wrote that Ethereum futures on regulated markets would be consistent with the position of Mr. O. of the CFTC. to facilitate "open, transparent, competitive and financially sound derivatives markets" [and] prohibit fraud, manipulation and abusive practices relating to derivatives and other products subject to [Commodity Exchange Act] CEA. "
The team strengthened before its launch
The recent commentary by Chippas, who points out that his future runner is about to embark, comes after ErisX has achieved a number of remarkable hires. As announced by Ethereum World News in early January, the company disclosed that it had added two members to its board, Accel Cree Conde, and Joseph Lubin, founder of Consensys and the company's director. one of the spirits behind Ethereum. Conde replaces Cliff Lewis on the board of ErisX, while the veteran crypto Lubin got a new seat.
In an official statement, Lubin pointed out that, from his point of view, ErisX is in a "unique position" in the broader market, with its business background, its financing chart and its innovative products. The head of ConsenSys, in fact the de facto executive director of the Ethereum development consortium, added that he was happy to pbad on his knowledge of "decentralized technologies and digital badets" to a "model that will further democratize access to badets digital. "
More recently, the company, which has offices in Chicago and New York, has revealed that it will hire Robert Thrash, Arnold Connell and John Denza, who will hold executive and C-Suite positions within the group.
Thrash, chief operating officer, joins Barclays, a bitcoin-friendly company, where he directed the execution of the giant's future and clarified aspects of his platform. This new recruit is obviously a step taken by ErisX in view of the possible launch of cryptocurrency futures, pending the approval of US incumbents. The head of infrastructure, Connell, is from the TV team on Youtube, with other facets of Google's conglomerate. ErisX's new Business Development Manager, John Denza, comes directly from CBOE's subsidiary, Bats Global Markets, where he was director of equity and derivatives sales in the United States.
In a comment on ErisX's new staff members, Chippas pointed out that switching from the bigwigs to "Satoshi Street" only accentuated the possibilities offered by crypto and blockchain. But will these new collaborators help launch ErisX successfully?
Photo by Rohit Tandon on Unsplash
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