*By Jacqueline Corba*
The crypto world is turning to institutional investors to get the market out of its summer slump.
"This year, it's not *only* an asset that's only gone up, but it has great trading range, and that attracts a different type of institution where they see that volatility as an opportunity," Harbor Peak partner Paul Johnson said Thursday on Cheddar's CryptoCraze.
"But they are still, to some degree, trapped on the sidelines mostly for technical and institutional reasons ー not for any kind of market reasons," he said.
Bitcoin dropped Thursday below the $7,000 threshold, a mark it has hovered around for much of the summer. And it's a far cry from its all-time high close to $20,000 back in December of 2017.
"Short-term I think you are in a tight trading range through the fall," Johnson said.
The market is also anxiously awaiting approval of a Bitcoin ETF by the SEC. The agency rejected several proposals [last week] (https://cheddar.com/videos/sec-rejects-some-bitcoin-etf-proposals).
Johnson said the SEC is wary that its approval may signal investors to act too quickly.
"If they endorse an ETF they almost feel like they are telling retail and institutional investors this is a green light, and I think that makes them very nervous," he said.
For full interview [click here](https://cheddar.com/videos/why-many-institutional-investors-are-trapped-on-sidelines-of-crypto).
After stumbling out of the starting gate in Big Tech’s pivotal race to capitalize on artificial intelligence, Apple tried to regain its footing Monday during a developers conference that focused mostly on incremental advances and cosmetic changes in its technology.
Six weeks before UnitedHealthcare CEO Brian Thompson was gunned down outside a Manhattan hotel last December, Luigi Mangione mused about rebelling against “the deadly, greed fueled health insurance cartel” and expressed that killing the executive “conveys a greedy bastard that had it coming."
Shaquille O’Neal and Allen Iverson once clashed on the court in the 2001 NBA Finals, but now the basketball legends are joining forces to revive the Reebok brand they helped make iconic.
Midea is voluntarily recalling about 1.7 million of its popular U and U+ Smart air conditioners because pooled water in the units may not drain fast enough, leading to mold growth.
Jeremy Fox-Geen, the Chief Financial Officer at Circle, joins Cheddar for a one-on-one interview as the company's stock surges on its first day of trading.
