31 May Goldman Sachs Slams Bitcoin; Coinbase Welcomes High Rollers
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Bitcoin still has a long way to go in the eyes of traditional finance.
CRYPTO MARKETS
Bitcoin enjoyed a slight rise this week, though it’s struggling to surpass $10,000, which has acted as a resistance level for every short-lived rally in May. With its momentum stalled, investors fear a pullback. Miners who needed the price to rise after the May 12 halving may have to sell more of their rewards to stay afloat, and open interest on futures exchanges is expanding, which often signals near-term volatility.
Source: Messari. Prices as of 4:00 p.m. on May 29, 2020.
COINBASE SPLURGE
Coinbase is acquiring fledgling startup Tagomi for between $75 million and $100 million, hoping to capitalize on its technology and talent. Tagomi, valued at $72 million in an early 2019 funding…