{"id":11591,"date":"2019-01-02T00:00:00","date_gmt":"2019-01-02T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2019\/01\/02\/bakkt-raises-182-5-million-seed-capital-as-it-postpones-yet-again-its-launch-date\/"},"modified":"2019-01-02T00:00:00","modified_gmt":"2019-01-02T00:00:00","slug":"bakkt-raises-182-5-million-seed-capital-as-it-postpones-yet-again-its-launch-date","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bakkt-raises-182-5-million-seed-capital-as-it-postpones-yet-again-its-launch-date\/","title":{"rendered":"Bakkt Raises $182.5 Million Seed Capital As It Postpones Yet Again Its Launch Date"},"content":{"rendered":"<p lang=\"en-US\" style=\"text-align: justify\">The cryptocurrency community may have to wait a little longer to get the Bakkt Bitcoin futures according to the latest <strong><a href=\"https:\/\/www.theice.com\/publicdocs\/futures_us\/exchange_notices\/ICE_Futures_US-Notice_BitcoinLaunch20181231.pdf\" target=\"_blank\" rel=\"noopener\">announcement<\/a><\/strong> from Bakkt\u2019s parent company Intercontinental Exchange (ICE).<!--more--><\/p>\n<p lang=\"en-US\" style=\"text-align: justify\">As expected, the regulatory approval may delay which would push the <strong><a href=\"https:\/\/crypto-economy.com\/bitcoin-btc-ices-bakkt-pushes-bitcoin-futures-launch-to-january-24th-2019\/\">initial launch date<\/a><\/strong> from 24th January to a later date not yet disclosed as of yet. The announcement stated that the future date will be<strong><em> \u201camended pursuant to the CFTC\u2019s process and timeline.\u201d<\/em><\/strong> This was expected given the CFTC timeline which was revealed by an unnamed insider to the media. The delay is however not expected to last more than a few days.<\/p>\n<p lang=\"en-US\" style=\"text-align: justify\">On to more positive news and Bakkt CEO <strong>Kelly Loeffler<\/strong> announced on the official Bakkt blog the conclusion of a seed round for the Bakkt platform that saw the new futures entity raise $182.5 million from 12 partners. Some of the partners that took part in this funding round include<strong> Microsoft\u2019s Venture Capital arm, <a href=\"https:\/\/crypto-economy.com\/good-money-digital-banking-platform-raises-30-million-led-by-galaxy-eos-vc-fund\/\">Galaxy Digital<\/a>, Pantera Capital, Intercontinental Exchange, Alan Howard, and CMT Digital<\/strong> among others. These are some of the elite investors especially in the cryptocurrency world and Wall Street in general. Their involvement in this platform gives it a wave of legitimacy and confidence in the investors\u2019 eyes.<\/p>\n<p lang=\"en-US\"><a href=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/funds-raise.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-136006\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/funds-raise.jpg\" alt=\" Bakkt Bitcoin futures\" width=\"696\" height=\"433\" \/><\/a><\/p>\n<p lang=\"en-US\" style=\"text-align: justify\">The cryptocurrency industry is pegging a lot of hopes on the success of this futures platform and the launch of the<strong> VanEck\/SolidX ETF<\/strong> product to make way for institutional investors and therefore taking Bitcoin to the mainstream.<\/p>\n<p lang=\"en-US\" style=\"text-align: justify\">Loeffler wrote that,<\/p>\n<p lang=\"en-US\" style=\"text-align: center\"><em> \u201cOur work today is centered on driving institutional access for digital assets, along with merchant and consumer uses.\u201d\u00a0<\/em><\/p>\n<p lang=\"en-US\" style=\"text-align: justify\">According to their partner list, they are seeking to take Bitcoin to the average consumer with brands such as Starbucks.<\/p>\n<p lang=\"en-US\" style=\"text-align: justify\">Loeffler also talked about the regulatory approval process and the postponement of the launch (twice in a row). She wrote that Bakkt has been working<strong><em> \u201cclosely with the Commodity Futures Trading Commission for the better part of 2018\u201d<\/em><\/strong> with the aim of creating a product that is fully compliant with the regulatory framework. In regards to the future launch date, she said that <em><strong>\u201cthe timing for approval is now based on the regulatory review process.\u201d<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency community may have to wait a little longer to get the Bakkt Bitcoin futures according to the latest announcement from Bakkt\u2019s parent company Intercontinental Exchange (ICE).<\/p>\n","protected":false},"author":4,"featured_media":11593,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[5020,4602,4910,4700],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/11591"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=11591"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/11591\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/11593"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=11591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=11591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=11591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}