Ronaldo slapped with class-action lawsuit over Binance promo
Christiano Ronaldo is facing a class action lawsuit over his NFT collection promotion in partnership with Binance.
According to JPMorgan Chase, Bitcoin s short-term success could lie behind Grayscale Investment’s investment portfolios.
Bloomberg strategists, including Nikolas Panigirtzoglou, suggest that Bitcoin might be on the path to losing momentum if it fails to break out above $40,000 USD again. Over the past month, Bitcoin has managed to crack above the $40,000 USD mark, but hasn’t managed to hold the price tag before correcting back to trade around $37,000 USD. However, Bloomberg reports that institutional investment firm Grayscale stands as the entity which could push Bitcoin to return to – and hold – the strong level above its record high of $42,000 USD:
“The flow into the Grayscale Bitcoin Trust would likely need to sustain its $100 million USD per day pace over the coming days and weeks for such a breakout to occur.”
According to the strategists, this breakout level was seen in late November, but with $20,000 USD as the mark instead. According to the report, it was the fresh wave of institutional investment, including massive purchases from Grayscale, that sent Bitcoin to breach the mark and traject it further from there. Since Bitcoin managed to crack above $20,000 USD in December (knocking on the door of – and then breaking – its record high price for the first time since the bull run of 2017), it has gained more than double its value. In just three weeks, the cryptocurrency market has been bagging massive spikes in trading volumes and values, with analysts believing whales and institutions leading the rally.
As reported, Grayscale continues to add to its portfolio, buying Bitcoin at a remarkable rate. As it stands, the institution now owns approximately 3% of all Bitcoin in circulation. Not only does this highlight the firm’s investment rate over the past year, but it also shows how much influence the firm could have over the market.
Christiano Ronaldo is facing a class action lawsuit over his NFT collection promotion in partnership with Binance.
Following the Department of Justice's case against Binance and former CEO Changpeng "CZ" Zhao, Columbia professor speaks out.
In court filings, prosecutors from the Department of Justice have sought to overrule judge's decision to allow CZ to return to the UAE.
BlackRock and Nasdaq representatives met with the SEC to discuss allowing a spot Bitcoin exchange-traded fund (ETF).