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Author Archives: Thom Thompson

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Thom Thompson is a derivatives specialist and former regulator who is currently a contributing editor to JLN.

Coinigy Joins with Merkle Data to Provide Enhanced Data Standard

Coinigy, the Milwaukee-based cryptocurrency trading front-end and data service, announced an agreement Tuesday in which Merkle Data would provide its three cryptocurrency indexes to Coinigy’s customers. Merkle Data provides analytics and risk solutions to crypto institutions in part by analyzing the publicly available data that are a hallmark of the blockchain economy. Coinigy offers its customers a trading interface that is connected to 15 different cryptocurrency platforms. Customers can use the Coinigy interface to access their own accounts at the cryptocurrency platforms, providing what Derek Urben, the Coinigy CFO and director of business development, calls “remote control of their accounts.”…

World’s Largest Bitcoin Mining Manufacturer Earned $742.7 Million in Six Months Standard

This article is a follow-up to Thom Thompson’s earlier article, “Introducing Bitmain,” which you can find here. It is the second in a four part series. In preparing for its IPO, Bitmain, a Chinese bitcoin mining-hardware and services firm, has provided a detailed look into its operations. As one of the largest business entities in the industry and occupying as it does a central position in the industrial organization of bitcoin, Bitmain reveals a lot in its filing about the forces behind cryptocurrency economics. The Bitmain story is particularly compelling because no other major company whose fortunes are so closely…

Women In Listed Derivatives Tackle Sexual Harassment at Work Standard

Women In Listed Derivatives, aka WILD, held a workshop on “Sexual Harassment at Work in the #MeToo Era” on Thursday at Chicago’s Union League Club. The good news is that it was well attended and very participatory; the audience listened avidly to Jennifer Gilbert, an attorney with the employment discrimination firm Stowell & Friedman, and asked a great many questions and follow up questions. The bad news is that even though the raucous, anything goes atmosphere of the old trading floors is all but gone, sexual harassment is not. The types of sexual harassment Gilbert outlined were familiar to the…

ErisX Enters the Crypto World With New Spot and Futures Platform Standard

It looks like there is a growing market for regulated exchange trading of cryptocurrencies. ErisX, the U.S. futures exchange best known for offering listed interest rate swap futures, just announced plans to launch a derivatives exchange (DCM) and clearing organization (DCO) that will offer digital asset futures and spot contracts on one platform. The exchange plans to offer contracts on bitcoin, bitcoin cash, ethereum and litecoin. This is going a step beyond the CME and the Cboe, which began offering cryptocurrency futures in December 2017. Eris needs a DCO license to clear its crypto contracts; that application is pending with…

Introducing Bitmain Standard

In preparing for its IPO, Bitmain, a Chinese bitcoin-mining services firm, has provided detailed insights into its operations. As one of the largest business entities in the industry and occupying as it does a central position in the industrial organization of bitcoin, Bitmain’s filings reveal a lot about the forces behind cryptocurrency economics. Introducing Bitmain BitMain Technologies Holding Company is the world’s largest producer and seller of bitcoin mining equipment. On Wednesday, September 26, they filed a much anticipated (draft) prospectus for an IPO on the Stock Exchange of Hong Kong. Since it’s a draft, Bitmain felt free at this…

Look Who’s Talking Standard

Last week many of us were surprised to hear EF Hutton talk again – Wow! They exist? – when Hutton issued three press releases over eight days. Hutton has emerged as potentially much cooler, socially conscious version of a money machine and not just because the money takes the form of cryptocurrency. It seems that Hutton’s brand had been hanging out somewhere deep in Citigroup until half a dozen years ago when it was resurrected and sent out to fare on its own. EF Hutton today is a broker dealer unit of HUTN, Inc. Based in Springfield, Ohio, HUTN’s CEO…

A Couple of Takes on the Voice of Blockchain Conference Standard

A few folks from JLN attended the Voice of Blockchain Conference at Navy Pier this past Friday and Saturday. Here are some observations from two of them: Sarah Rudolph: The Voice of Blockchain event at Navy Pier was big – at least, the room where it was held was enormous, with the microphones on each stage just loud enough to drown out the echo from the microphones on the other stages. There was perhaps an overabundance of stages and topics from which to choose, but there were some interesting speakers as well as startup companies with vendor booths. Denny Chared…

Report from the International Blockchain Congress Standard

The second International Blockchain Congress (IBC) took place on Friday at the Aon Center in Chicago. Topics ranged from crypto trading to smart contracts to the regulations surrounding ICOs. While the Congress was run much more efficiently than the first version, which fell hours behind schedule, this iteration saw much less in the way of attendance and speakers from outside the U.S.  That said, a couple of speakers from Asia shed interesting light on cryptocurrency markets that those in the West rarely see or understand. Highlights from IBC included: Panel: Crypto Trading 2018 Somewhat surprisingly, the Crypto Trading panel actually…

Crypto and the Law at IIT Blockchain Conference Standard

It used to be said that August was a quiet month for the markets – but apparently no one told that to the boosters of blockchain and cryptoassets, at least in Chicago. The month of August 2018 has no fewer than three significant conferences, each with its own special flavor, kicking off with “Block (Legal) Tech: A conference about the future of the law” on August 9. Hosted by the Law Lab at Illinois Tech Chicago-Kent College of Law and FinTEx, the event gathered experienced lawyers in the cryptoasset space and regulators for a day-long look at the past, present…