Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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China bans crypto transactions
China’s central bank announced today that going forward all cryptocurrency-related transactions are illegal.
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.
— Joanna Glasner
Cue Health prices IPO
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. San Diego-based Cue develops and sells tests for COVID and has a pipeline of test kits in late-stage development for for flu, respiratory syncytial virus (RSV), fertility, pregnancy and inflammation.
— Joanna Glasner
Proptech
Ukio raises $9M to simplify apartment-hunting: Barcelona-based Ukio, a startup offering turnkey apartments with by-the-month rates, raised $9 million in a funding round led by venture firm Breega.
— Joanna Glasner
Manufacturing
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.
— Joanna Glasner
Illustration: Dom Guzman
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