News

The American law firm Burwick Law announced that it has joined forces with the law firm Hoppin Grinsell to file a lawsuit on behalf of investors against the Meteora platform and individuals such as Hayden Davis, Gideon Davis, CT Davis, and Kelsier. They are accused of fraud, securities fraud, and other illegal activities related to the launch of the M3M3 token on the Meteora platform. Previously, on March 18th, Burwick Law stated on social media that on behalf of its clients, it filed a lawsuit in the Supreme Court of New York against Kelsier, KIP, Meteora, and related parties, alleging misconduct in the issuance of the LIBRA token. The class action lawsuit accuses them of orchestrating an unfair token issuance, misleading buyers, and harming the interests of retail investors.

The Chicago Mercantile Exchange (CME) Bitcoin futures open interest suggests a shift in market dynamics, as a group of traders appears to be reducing their positions, possibly indicating a cautious stance or profit-taking after a strong rally. The data shows a divergence in the behavior of asset managers and other participants, with asset managers’ net long positions peaking at $6 billion by the end of 2024, but significantly reduced to about $2.5 billion since then. On the other hand, the "others" category (likely including retail investors and small institutions) has seen a sharp increase in net long positions, reaching approximately $1.5 billion, the highest level in over a year, indicating a renewed bullish sentiment among non-institutional market participants.