Also, CME Group, owner of the Chicago Mercantile Exchange, is close to overtaking Binance as the largest crypto derivatives exchange in the world. (CME’s product is a cash-settled futures contract, essentially a side bet on bitcoin’s price; no BTC changes hands). In other words, a business with roots in the 19th century and agricultural commodities like corn and pork bellies, and one of the key spots in all of traditional finance, is a major player in crypto trading.

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Author: Nick Baker

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