News

Jinse Finance reported that JPMorgan stated that the potential risks of Strategy Inc. being removed from major stock indices have already been fully priced into its shares. The bank also noted that even if MSCI’s upcoming decision results in the company’s removal (which would trigger passive outflows), it could actually serve as a catalyst for the stock price to rise. As the world’s largest enterprise-level bitcoin holder, Strategy is already under pressure from the decline in token prices — the company holds about $60 billions worth of bitcoin and has limited cash reserves. Market concerns over a possible sale of crypto assets by the company have continued to intensify, and with the current crypto market experiencing thin liquidity and weak demand, these worries have further increased the selling pressure on the stock.

According to ChainCatcher, citing Bloomberg, a fraud victim will get a new opportunity to sue an exchange in state court, accusing it of involvement in the theft of $80 million worth of bitcoin. The Florida Court of Appeals issued its ruling on Wednesday. The Florida Third District Court of Appeal stated in its decision that the trial court was wrong to believe it could not exercise personal jurisdiction over the exchange, as the case accuses the crypto trading platform of failing to continue freezing the stolen funds.