Apr 5, 2021 03:36 GMTCrypto News
Bitcoin’s three-month realized volatility has fallen to 86%, after its rise to above 90% in February.
While volatility drops for the leading cryptocurrency, institutions could see this as a green light to enter the crypto space.
Former SEC chairman Jay Clayton warns of new regulations that could come for Bitcoin.
Institutions have been entering the cryptocurrency space, as Goldman Sachs and Morgan Stanley are two of the latest large banks to join in providing Bitcoin-related products and services to their clients. Researchers from JPMorgan Chase & Co. believe that other institutional investors will follow as Bitcoin’s volatility levels have declined.
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Singapore Online cryptocurrency trading platform Torque now faces up to 115 police reports, with investors worried they were defrauded.
There were some Torque users, including Singaporeans, who were involved in promoting the platform, which led investors to believe that Torque was actually a multi-level marketing (MLM) scheme.
A multi-level marketing or pyramid selling scheme will typically require participants to pay an upfront charge. In return, the participants are promised financial rewards for each additional participant recruited – hence the pyramid-like structure. As more salespersons are recruited, participants hope to recover their upfront charges and earn sizeable profits. However, such pyramid schemes will eventually collapse when they run out of new recruits, resulting in those salespersons at the bottom of the pyramid losing all their upfront charges.