Bitcoin prices plunged on Friday, and the CME briefly halted trading on the cryptocurrency’s newly-launched futures in the morning.
But one executive at the exchange says he’s “agnostic” to what the price is doing.
“Whether the talk is about the price of Bitcoin, or the enthusiasm of Bitcoin, those are all great things that make for interesting chatter and interesting topics of conversation,” Tim McCourt, Global Head of Equities and Alternative Investments at the CME, said. “But as an exchange operator we want to make sure that our customers have what they need to manage their risk, to access the process, and do so efficiently in a transparent manner. And that really isn’t necessarily a function of price, or any type of hype that’s going on in the underlying market.”
McCourt joined Cheddar the day after the world’s largest futures exchange started offering the contracts. The launch over the weekend came when Bitcoin prices were approaching $20,000. But by Friday, the digital asset was trading about 40 percent lower around $12,500.
And it wasn’t the only cryptocurrency falling. Crypto news and data resource Coindesk notes that 20 different options were down more than 20 percent over a 24-hour period on Friday. Some experts say that more exchanges getting into the sector will introduce more volatility.
For full interview [click here](https://cheddar.com/videos/cme-group-launches-bitcoin-futures-2).
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
