The Briefing: China Bans Crypto Transactions, Cue Health Prices IPO, And More
Summary
The People’s Bank of China said the decision was aimed at preventing risks around crypto trading and maintaining national security and social stability. Cryptocurrencies fell immediately after the announcement but subsequently regained some ground, with Bitcoin around $41,376 in morning trading and Ether around $2,830. Cue Health, a maker of tests for detecting COVID-19, priced shares for its initial public offering at $16 each, the middle of the proposed range, raising around $200 million. Shares are set to begin trading Friday under the ticker symbol HLTH. General Lattice raises pre-seed round: General Lattice, a Chicago-based developer of computational design tools for digital manufacturing, announced that it has raised $1 million in pre-seed funding led by AP Ventures LLC, the strategic investment arm of All Points Logistics.