Urgent Crypto News: BlackRock ETF Streak, BSV Lawsuit, and Kiyosaki’s Bitcoin Call
Dive into today’s most significant developments in the world of cryptocurrencies. This daily roundup brings you the essential Crypto News impacting the market, from legal battles to investment trends and expert opinions.
Why is the Bitcoin SV Lawsuit Against Binance Back in the News?
A group of Bitcoin SV (BSV) investors is making another attempt to pursue legal action against the crypto exchange Binance. The core of their claim, originally from 2019, alleges that Binance’s decision to delist BSV negatively affected the altcoin’s price. According to reports, attorneys for the plaintiffs are pushing for a re-examination of a previous ruling by the UK Competition Appeal Tribunal that had dismissed claims of undue damage from the delisting.
Key points regarding the BSV lawsuit:
- Investors allege Binance’s 2019 delisting harmed BSV price.
- They seek a review of a prior tribunal ruling.
- Potential damages could reach up to 10 billion British pounds (around $13 billion).
- BSV has faced challenges including price decline and security issues since 2021.
Robert Kiyosaki Says Ditch ‘Fake Money’ for Bitcoin and Gold
Best-selling author of ‘Rich Dad Poor Dad’, Robert Kiyosaki, continues his strong critique of centralized monetary systems. He recently advised his followers to move away from what he terms ‘fake money’ and instead embrace alternatives like Bitcoin, gold, and silver. In a recent post, Kiyosaki echoed sentiments from former US Congressman Ron Paul, who views central bank interest rate setting as a form of ‘price fixing’ akin to socialist control. Kiyosaki argues that ‘fake money’ leads to widespread dishonesty in finance and society.
Kiyosaki’s message is clear: opt out of traditional fiat systems and choose decentralized stores of value to protect wealth and economic freedom.
BlackRock ETF Hits New Inflow Milestone
The BlackRock ETF, specifically its spot Bitcoin fund (IBIT), concluded the trading week on a high note, recording $356.2 million in inflows on May 9. This latest inflow extends IBIT’s streak to 19 consecutive days, marking its longest inflow run this year. The streak began in mid-April and has occurred during a period of notable volatility for Bitcoin.
Highlights of the BlackRock ETF performance:
- 19 consecutive days of inflows for IBIT.
- Latest daily inflow was $356.2 million.
- Weekly inflows totaled $1.03 billion.
- The streak coincided with Bitcoin trading between roughly $83,000 and $103,000.
Summary: Staying Informed on Today’s Crypto Landscape
Today’s Crypto News highlights the dynamic nature of the market, from ongoing legal challenges involving Bitcoin SV and major exchanges like Binance, to influential figures like Robert Kiyosaki advocating for a shift towards assets like Bitcoin, and significant institutional activity shown by the continued strong performance of the BlackRock ETF. Staying informed on these diverse developments is key for anyone navigating the cryptocurrency space.
