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Ballooned

The Crypto Catch-Up…

Snacks / Friday, November 17, 2023

⚖️ Judgy… Celsius, the bankrupt crypto lender that imploded last year (regulators suggested it resembled a Ponzi scheme), intends to exit bankruptcy next year. Its court-approved plan would get former customers 67 to 85% of their holdings back.

🤹‍♀️ Quirky… Snoopy, Charlie Brown, and… Cool Cats? Next week’s Macy’s Thanksgiving Day Parade will include balloons depicting two NFT characters (picture: blue cat, milk carton). Despite an October pop, NFT sales have dropped 98% from their peak.

🪙 Coins… Bitcoin’s price was negatively correlated to stocks over the past month, bucking a 2022 trend. Investors have argued that bitcoin could act as an inflation hedge or an investment that wouldn't move in lockstep with the market.

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