Binance Invests $100M in Circle Amid Crypto Market Turbulence
The People's Bank of China (PBOC) has reiterated its stance on virtual currencies, emphasizing that they do not have legal tender status and should not be circulated as currency in the market. The PBOC also highlighted that engaging in related business activities within China constitutes illegal financial activity.
Circle has signed a five-year cooperation agreement with Binance, expanding their USDC promotion collaboration. As part of this deal, Binance subscribed to $100 million in Circle shares at a discounted price of $80.84 per share. The relevant shares are subject to a two-year transfer restriction but may be terminated early under certain conditions.
The Chicago Mercantile Exchange Group (CME) has announced that it will launch BCH and UNI futures on October 19, pending regulatory approval. Market participants can choose to trade larger-sized contracts or smaller-sized contracts for both assets.