CME Group Stops Trading After WHO Declares Pandemic
A couple of days ago, WHO revealed that the COVID 19 had been officially recognized as a global pandemic.
It’s been officially registered as one, and a lot of crypto companies and organizations are changing the way in which they are doing business in the industry these days.
CME Group suspends trading
A report was published earlier this week by CNBC, and it reveals that the Chicago Mercantile Exchange Group (CME) is going to suspend trading in the state starting today.
The firm also made sure to highlight the fact that the need for caution is obvious now more than ever.
The exchange felt it was necessary to suspend trading. Financial markets across the US have seen a massive impact on the trading due to the outbreak.
CME is one of the biggest financial derivatives platforms in the world, and the entity trades in various industries such as “agricultural products, interest rates, metals, fiat and of course, cryptocurrency,” according to Crypto Daily.
Regarding these new precautions made by the company, the group stated:
“No coronavirus cases have been reported on the trading floor or in the Chicago Board of Trade building. The reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available.”
We recommend that you head over to the original article in order to learn more details on the matter.
Bitcoin in the crypto market
The crypto market looks extremely bad today, with the digital assets trading in the red.
Alex Kruger said that the declaration of a pandemic is the equivalent of WHO calling it a bear market.
He also said that the official recognition of coronavirus being a pandemic means calling the crypto space a bear market.
Yesterday, Bitcoin suffered a massive fall, and at one point, the digital asset was trading around $4,700.
At the moment of writing this article, the most important coin in the market is priced at $5,331.77.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.