The bear market may continue after the launch of Bakkt

The Intercontinental Exchange (ICE) regulated exchange ecosystem for Bakkt launches on December 12, however, the public is concerned about the platform's possible impact on the market. Following a series of Twitter posts on the topic, securities lawyer Jake Czerwinski has clarified some of the issues surrounding the Bakkt platform, which is currently awaiting regulatory approval to launch operations.

Following a series of Twitter posts on the topic, securities lawyer Jake Czerwinski has clarified some of the issues regarding the platform Bakkt, which is currently awaiting regulatory approval to launch operations.

The belief that the launch of the platform has taken root in the minds of many Bakkt will certainly lead to the end of the bear market. But there are also those for whom the launch of the platform is causing concern.

If all goes according to plan, the company will begin selling overnight Bitcoin futures on December 12.

As previously reported by several news sources, this will allow institutional investors, including companies Cboe and CME Group, hold ownership of the cryptocurrency, which distinguishes the offer from futures available on market.

Company representatives believe this should allay concerns that the platform will negatively impact Bitcoin in the long term. However, experts say these arguments are insufficient.

Stressing the lack of a full picture, Chervinsky cited Caitlin Long, former chief executive of Morgan Stanley, who discussed the issue on social media in October. In particular, such negative consequences are associated with “remortgaging,” the practice of financial institutions to use client funds to generate income.

Representatives of the Bakkt platform claim that they adhere to a transparent approach in their activities. 

According to cryptodaily.co.uk