Caitlin Long, who’s working on a book about Wall Street and crypto assets and is the cofounder of the Wyoming Blockchain Coalition, discusses the significance of the creation of Bakkt, a new federally regulated market for Bitcoin, by ICE, Microsoft, Starbucks and investment firms Fortress Investment Group, Eagle Seven, and Susquehanna International Group. She explains why she thinks the price of bitcoin didn't jump after the news, what this move could mean for institutional players getting into crypto and why it could lead to systemic risks. We also discuss some remarks by ICE founder, chairman and CEO Jeffrey Sprecher about how the enterprise would bring "transparency and trust" to crypto.
Thank you to our sponsor!
Digital Asset Custody Company: https://digitalassetcustody.com
Caitlin's articles on the announcement: https://www.forbes.com/sites/caitlinlong/2018/08/03/ice-creating-new-cryptocurrency-market-a-double-edged-sword/#50803d791015
Tweet from SEC commissioner Hester Peirce regarding comment on crypto funds: https://twitter.com/HesterPeirce/status/1027273379819204608
Fortune article on Bakkt: http://fortune.com/longform/nyse-owner-bitcoin-exchange-startup/
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