Monday, 18 March 2019 12:39

Wall Street Is Abandoning Bitcoin

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(New York)

In a sign of just how far Bitcoin and other cryptocurrencies have fallen from their heights, the CBOE has just scrapped its plans to continue to offer Bitcoin futures. Creating mainstream products around Bitcoin was all the rage until recently, but Wall Street’s appetite for doing so has tumbled alongside cryptocurrencies’ prices. Godman Sachs’ plans to create a bitcoin trading desk, much discussed early last year, have yet to materialize.

FINSUM: Have cryptocurrencies reached their zenith? In terms of prices, things are way off (Bitcoin at $20,000 in December 2017 to $4,000 now), but what about in terms of their place in the financial system?

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