A New York judge dismissed RICO charges against EminiFX founder Eddy Alexandre because the securities fraud cited by the plaintiff was excluded. The judge gave the plaintiff 30 days to file an amended complaint, with compensation still possible through other legal avenues. The case involves crypto fraud by Eddie Alexandre targeting church congregation members, involving substantial misappropriation of funds.
March 9-13, US spot Bitcoin ETFs recorded net inflows of $767 million, with BlackRock's iShares Bitcoin Trust (IBIT) leading the way with inflows of $600.1 million. Institutional sentiment is gradually recovering, with Ethereum and Solana also seeing capital inflows, while the XRP ETF recorded net outflows of $28.07 million, attracting market attention. Overall, the market is expanding its allocation from Bitcoin to a broader range of crypto assets.
MicroStrategy's co-founder Michael Saylor hints at another Bitcoin accumulation, despite current unrealized losses of approximately $3 billion. His hinting pattern has accumulated to the 11th instance, with predictions that over 1,000 Bitcoin may be purchased this week. Currently, MicroStrategy holds 738,731 Bitcoin, valued at approximately $53 billion, and has raised funds through convertible bonds, preferred stock, and common stock issuances to support accumulation.
Bitcoin has rebounded approximately 2.5% in recent days, touching a high of $74,000, primarily driven by consecutive five days of net inflows into US spot ETFs totaling $767.3 million. Analysis indicates this rebound stems from spot ETF capital inflows, short covering, and active institutional buying. While the rebound is strong, analysts remain cautious about a long-term bull market, with the key focus on the sustainability of capital inflows and the easing of geopolitical tensions.