FTX Exchange Launches BTC Hashrate Futures Contracts – May 18

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,654

Bitcoin price has attempted yet again to break the $10,000 mark with no avail, once again settling into the mid to high $9,000s to start the week.

Top-20 altcoins are mostly in the green, as Ethereum gains more than 2%, XRP rises 1% and Cardano leads the way with a 4% gain.

Top Stories for May 18, 2020 🔥

👉 FTX Exchange Launches BTC Hashrate Futures Contracts

Popular crypto derivatives exchange, FTX, has launched a new futures contract product, enabling miners to hedge their risk.

The contracts settle using an average of the Bitcoin mining difficulty over a predetermined period, which FTX claims is the most accurate measurable representation of the network’s hash rate.

The product appears to have been much anticipated, with high demand from miners and mining-related companies.

👉 BitMEX Served Lawsuit; Accused of Racketeering, Wire Fraud and More

BitMEX has been slapped with a lawsuit accusing the exchange and its executives of engaging in or abetting several crimes including racketeering, money laundering, wire fraud and more.

The suit was filed by BMA LLC, who claim that BitMEX has illegally facilitated a significant amount of trading from US traders.

👉 Bakkt-Marsh Partnership Increases Custody Insurance Limits

Bitcoin company Bakkt has announced a new partnership with Marsh, an insurance broker, which has increased its custody insurance cover to $500 million.

The new insurance limit is offered in addition to the company’s currency $125 million coverage and must be purchased separately.

Bakkt have onboarded more than 70 custody clients since launching its custody services.