CZ to Be Sentenced in Late April, 'Rich Dad Poor Dad' Author Kiyosaki Warns About 70% Crash of S&P500, Tuur Demeester Predicts BTC to Reach $600,000: Crypto News Digest by U.Today
Check out U.Today's top three news stories over the past day.
CZ to be sentenced in late April
The sentencing of Binance founder Changpeng Zhao, better known as "CZ," has been postponed to April 30, CNBC reports, citing a notice by Seattle federal court. Initially, the sentencing date was scheduled for Feb. 23; however, the court ruled to push the date to the end of April, providing no clear explanation for such a move. As a reminder, CZ pleaded guilty to not upholding an anti-money laundering mechanism within Binance. Currently, the former Binance CEO is on conditional release in the United States. According to federal sentencing guidelines, Zhao may receive a maximum sentence of 18 months in prison; however, there have been reports that prosecutors may seek a harsher sentence.
"Rich Dad Poor Dad" author Kiyosaki warns: Prepare for 70% collapse of S&P500
In a recent X post, Robert Kiyosaki, financial educator and author of "Rich Dad Poor Dad" bestseller, made a grim prediction that made the crypto community go abuzz. This time, he warned his followers and all market participants in general that the S&P 500 index will imminently crash by a staggering 70%. Kiyosaki underscores the significance of financial preparedness in the face of what he predicts will be the "biggest crash in history," urging individuals to stay cautious and choose their financial advisors wisely. As usual, the main point of the author's message remains the necessity of diversifying investment portfolios to include hard assets such as gold, silver and Bitcoin. In Kiyosaki's opinion, these assets are essential hedges against economic volatility that provide stability and potential growth in the event that traditional markets fall.
Yuri MolchanBitcoin (BTC) price to $600,000: Tuur Demeester shares uber-bullish forecast
Tuur Demeester, legendary Bitcoiner, macro economist and investor, has recently taken to X platform to share his view on the future of the Bitcoin price. He believes that the largest crypto is facing a bullish rally that will be different from the one that occurred in 2021. According to Demeester's prediction, Bitcoin might reach levels between $200,000 and $600,000 by 2026, with this rally being fueled by trillions in cash from various bailouts and stimulus programs. He also emphasizes that retail "awakening" will be crucial to the Bitcoin (BTC) surge rather than institutional involvement. In a subsequent X post, Demeester added a warning for those retail investors interested in a potential Bitcoin rally above $500,000: "Keep in mind one of the most important lessons in bitcoin: be careful with debt and potential overexposure, because its volatility will easily give you whiplash."
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