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).
Mark Spoonauer, Global Editor-In-Chief at Tom's Guide, discusses the craze behind the latest Nintendo Switch 2 and why it already flying off shelves. Watch!
Bob Lang, Chief Options Strategist at Explosive Options, joins J.D. Durkin on the floor of the NYSE for a look at how traders are approaching the markets.
Seth Schachner, Managing Director at Strat Americas, talks Disney's taking control of Hulu, Warner Bros. and Discovery's split and how if affects the viewers.
The Tony Awards on Sunday lured 4.85 million viewers to CBS, its largest broadcast audience in six years. CBS says Monday that Nielsen data shows the telecast — hosted by “Wicked” star Cynthia Erivo — scored a 38% increase over last year’s 3.53 million viewers. That’s the largest audience for the Tonys since 2019, when the telecast that year nabbed 5.4 million viewers and “Hadestown” was crowned best new musical. The latest version also had to compete with the second game of the NBA Finals, between the Thunder and Pacers,
After stumbling out of the starting gate in Big Tech’s pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during a developers conference that focused mostly on incremental advances and cosmetic changes in its technology.
