CME Group Inc. (NASDAQ: CME) does not intend to trade a futures contract based on Dogecoin (DOGE), The Block reported Sunday.
What happened: The Chicago-based operator of markets has confirmed that he does not intend to launch such a product, after a news-centered Twitter account earlier announced the opposite, people familiar with the matter told the Block .
First Squawk Tweet – A Twitter a global financial news service for Squawk
A trade chief told the Block that no one from the CME had updated them on the product.
DOGE traded 25.59% higher at print time at $ 0.34. The crypto-currency rose by 371.31% over a seven-day period.
The top crypto-currency according to market capitalization, Bitcoin (BTC) traded 0.36% higher at $ 56,761.18 at the time of going to press.
Why it matters: First Squawk was one of the Twitter accounts that boosted a headline on social media targeting U.S. regulators asking several anonymous financial institutions for money laundering with cryptocurrencies, the Block said.
A tweet with a headline allegedly provoked by the first squawk
The rumors surrounding the regulators were, according to Cointelegraph, a factor in the decline of BTC.
DOGE, meanwhile, has been on the rise since last week, partly due to social media madness, after the price exceeded the psychological mark of ten cents. The cryptocurrency hit a high of $ 0.43 on Friday.
See also: Why is Dogecoin a good boy now?
Dogecoin co – creator Billy Markus on Sunday defended DOGE’s inflationary trends, saying it does not matter for price, which he says is only influenced by ‘buy and sell’.
Price action: CME Group’s shares closed nearly 1.7% higher at $ 207.58 on Friday.
Read the following: Elon Musk says that the high offer of Dogecoin in relation to Bitcoin can actually be an advantage
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