*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).
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
