Bitcoin Derivatives Platform TeraExchange to Go Public in Merger
MGT Capital Investments has entered into an agreement with Tera Group that would find the operator of the first regulated bitcoin derivatives platform TeraExchange going public on the New York Stock Exchange (NYSE) MKT, the leading equities capital market for small cap companies. The New Jersey-based company framed the news as that which would open up the NYSE to a bitcoin venture for the first time. TeraExchange CEO Christian Martin and president and COO Leonard Nuara explained that the company had been looking to enter the capital markets for three months, and that in MGT it was able to....
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TeraExchange, a New Jersey-based swap execution facility announced Thursday the completion of the first bitcoin derivatives transaction on a regulated exchange. The maiden transaction was completed between digitalBTC and a hedging counterparty. Incidentally, this first bitcoin derivatives transaction happened on the same day that the Commodities and Futures Trading Commission is hosting the Global Markets Advisory Committee in Washington DC. The public meeting includes a bitcoin derivatives-based panel discussion among CFTC Staff, academics and bitcoin industry participants including....
MGT Capital Investments announced a planned merger with Tera Group, which operates the first regulated U. S. Bitcoin derivatives exchange. The merger will create the first publicly traded U. S. Bitcoin derivatives exchange. As observed by The Wall Street Journal, this is a reverse merger where Tera will take a controlling stake in MGT. Tera doesn't seem too interested in MGT's gaming operations, so the operation is primarily a way for Tera to go public. In other words, Tera is buying a public listing on the stock market for its Bitcoin operations. Tera has played a leading role in the....
TeraExchange, a New Jersey-based swap execution facility has launched its first regulated platform for Bitcoin derivatives and a spot BTC price index. The company that is registered with the Commodity Futures Trading Commission CFTC, announced the launch of the platform on Friday September 12th, 2014. Growing Demand for Bitcoin Derivatives. In a press release, the company stated that the Bitcoin Derivatives and Bitcoin Price Index platforms were created to meet the growing demand by global merchants, payment processors, miners and hedge funds for an efficient hedging tool. This new....
TeraExchange has announced a new partnership with bitcoin security firm BitGo, a deal both parties view as a step toward bringing traditional trading standards to the bitcoin industry. The partnership, the companies said, will position TeraExchange as the only player in the bitcoin exchange industry to provide clients with the ability to collateralize bitcoin derivative trades. BitGo will provide multi-signature block chain services for the USD/BTC swaps on TeraExchange's platform, and in turn, TeraExchange will provide its clients with multi-signature escrow accounts where neither party....
NewBitcoin ATMs in the USA and the UK, youth entrepreneurial program looking to empower under-served populations with Bitcoin, MGT Capital Investments to merge with Tera Group and launch the first publicly traded American Bitcoin derivatives exchange, and more top news to wrap up the week. MGT Capital Investments announced on February 26, it has enter into a Letter of Intent with Tera Group, Inc., the owner of TeraExchange, LLC, a Swap Execution Facility regulated by the US Commodity Futures Trading Commission (CFTC). Both companies are looking to come to a definitive agreement by March....