CoinMarketCap Daily, Nov. 17: Does BTC Have Further to Fall?

The Los Angeles Angels’ wildly popular pitcher/slugger Shohei Ohtani has announced a long-term sponsorship deal to become a global ambassador for crypto exchange FTX. FTX will also support a number of charitable initiatives Ohtani supports, particularly helping animals, according to FTX founder and CEO Sam Bankman-Fried. As part of the deal, Ohtani is going to receive all of his compensation in cryptocurrency as part of the deal. Read the full story here.

Twitter won’t be investing any of its corporate treasury in Bitcoin, the social network’s chief financial officer said. The reason — according to Twitter CFO Ned Segal — is that crypto assets are far too volatile, adding that the company prefers to hold assets like securities that aren’t subject to the wild price fluctuations of Bitcoin. Read more here.

Miramax is threatening to strike down upon Quentin Tarantino with great vengeance and furious anger those who attempt to poison and destroy its ability to sell Pulp Fiction NFTs. Miramax claims that it owns nearly all the rights to Pulp Fiction, and that Tarantino’s claim that his right to publication of the screenplay allows him to sell NFTs containing unreleased footage of the film alongside new commentary, images of the original screenplay amounts to a “deliberate, pre-meditated, short-term money grab.” Our story here.

A bad day for Bitcoin got even worse in the wee hours of November 17, when traders in Asia set the price plummeting after the biggest cryptocurrency stabilized on Tuesday, dropping as much as 10% on a day that saw it briefly dip below $58,000. There were more than a few analysts whose Twitter prediction said that the Bitcoin correction of the last few days has farther to go. See what those analysts think here.