The CME Group’s options on Bitcoin futures launched on January 13, and their first day of trading saw over $2.3 million worth of bitcoin change hands. The trading volume was rather low, but the firm noted it takes time to build a market and is pleased with the participants’ response so far.

Blockchain and crypto companies have been slowly improving their security with the help of hackers via HackerOne, as last year nearly $1 million were awarded in bug bounty programs that reward those who find and report security vulnerabilities.

Cryptocurrency adoption itself is seemingly growing, as online gold marketplace OneGold brought n $50 million since December 2018, when it started accepting cryptocurrency payments.

Top stories in the Crypto Roundup today:

• CME Trades 54 Options on Bitcoin Futures in Product’s Debut
• Blockchain Firms Awarded Hackers Nearly $1 Million in Bug Bounty Programs in 2019
• Online Gold Marketplace Brings in $50 Million Accepting Crypto Payments

At the time of writing, bitcoin (BTC) is trading at $8,505.54 (4.78%) with a daily Top Tier volume of $2.37 billion. As for ether (ETH), it is trading at $149.46 (4.12%) with a daily Top Tier volume of $407.85 mn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,768.76 (5.57%).

CME Trades 54 Options on Bitcoin Futures in Product’s Debut

 The CME Group has launched its options on bitcoin futures this Monday, January 13, and traded a total of 54 options during the product’s debut session. These give traders the right but not the obligation to buy or sell a specific amount of BTC within a set time period.

The 54 options are equivalent to around 270 BTC, or $2.3 million at press time. Mike McGlone, an analyst with Bloomberg Intelligence, said:

“The launch of listed options on futures is a significant step in the direction of increasing exposure to Bitcoin. Options are only launched and tradable on a liquid underlying and the trend in BTC futures on the CME is increasing volume and open interest.”

While the initial trading volume was rather small, analysts pointed out the first day’s volume is somewhat irrelevant. Each contract is quoted in U.S. dollars and represents five bitcoins. Contracts are cleared centrally to avoid counterparty risk.

Tim McCourt, global head of equity index products at the CME, told Bloomberg that although it “takes time to grow any market” the firm is pleased with the response from customers and market participants so far.

Bitcoin derivatives have been available on various exchanges since at least 2014, although CME was one of the first platforms to offer investors regulated products when it launched its cash-settled bitcoin futures in December 2017.

Blockchain Firms Awarded Hackers Nearly $1 Million in Bug Bounty Programs in 2019

 Cryptocurrency and blockchain firms have awarded hackers n$968,504 in bug bounty programs through the security platform HackerOne last year, according to TheBlock. Hackers use the HackerOne platform to find and address companies’ security vulnerabilities, and get rewarded for it.

The amount, close to $1 million, is 10.2% higher than what it was back in 2018. The rise is notable as Block.one, the company behind the EOS.IO software, awarded over $500,000 to hackers via bug bounty programs in 2018.

The cryptocurrency and blockchain industry is now the fourth-largest one when it comes to bug bounties, only falling behind internet services, computer software, and media. Some of the space’s largest firms, including Blockchain, Ripple, and Coinbase use HackOne’s program to find and fix security vulnerabilities.

Online Gold Marketplace Brings in $50 Million Accepting Crypto Payments

 OneGold, an online bullion marketplace that’s been accepting cryptocurrency payments since December 2018, has so far sold $50 million worth of the precious metal for cryptocurrency, which according to BitPay represents 10% of the firm’s yearly revenue.

The online gold marketplace has been accepting bitcoin, bitcoin cash, ether, and stablecoin payments. OneGold essentially lets users fund their accounts to buy gold and silver, but offers its users a 2% discount if they choose to pay with cryptocurrencies. These payments are supported by BitPay.

The precious metals themselves are held at the Royal Canadian Mint, a corporation of the Canadian government, or with APMEX, Brinks or Loomis in the United States. Users’ holdings are “100% redeemable for physical precious metals.” The marketplace is now launching a mobile app that’ll make it easier to buy gold with bitcoin.

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State of the Crypto by Top Tier Exchange Volume

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