CME Becomes Biggest Bitcoin Futures Exchange as Institutional Interest Rises
Chicago Mercantile Exchange now tops the list of the biggest bitcoin futures trading platforms, accounting for nearly 20% of all open interest.
The sell-off also led to major corrections for other cryptocurrencies including ether, stellar, xrp and chainlink.
As the crypto derivatives industry begins to take off, it needs to avoid the lack of transparency that plagued the industry in the 2000s, when the financial system collapsed.
The funding round, led by Three Arrows and DeFiance Capital, was also joined by Andreessen Horowitz and Polychain Capital.
The real-time settlement function went live on Dec. 29.
After getting in hot water with U.S. regulators last year, the exchange has rolled out mandatory verification for all users.