Crypto Weekly: big investors edge back to bitcoin
STORY: From why some big players are betting on bitcoin again, to why pro soccer hasn’t given up on NFTs just yet, these were the week’s big stories in the world of virtual money.
Some major investors are daring to dabble in bitcoin again.
Digital asset investment products - often favoured by institutional investors - saw inflows of over $117 million last week.
That’s according to asset manager CoinShares, which says it’s the biggest weekly increase since July.
Bitcoin accounted for almost all of that, after it saw gains of nearly 40% during January.
Bankrupt crypto exchange FTX continues its battle to recover some assets.
It’s now suing to claw back over $445 million in loan repayments it made to the equally bankrupt Voyager Digital.
FTX says it’s entitled to take back that money, as it was paid out so soon before its own bankruptcy filing.
Luno is the latest firm to feel the effects of a tough market.
The exchange is cutting just over a third of its workforce.
CNBC, which first reported the job cuts, says that means more than 330 jobs will go.
And the NFT bubble may have burst, but no one’s told English soccer.
The nation's popular Premier League has signed a deal to market digital cards of the players.
Sky News has said the partnership with French fantasy sports platform Sorare could be worth over $37 million per year.