Cardano Founder Finds Fault With Blackrock Bitcoin ETF
Crypto Market News: From Blackrock chief executive officer Larry Fink calling Bitcoin “an index of money laundering” in 2017, the world’s largest asset manager came a long way in terms of crypto market adoption. Later, Blackrock made a turnaround and decided to form a working group to study crypto and blockchain technology. This turnaround is akin to JP Morgan CEO Jamie Dimon’s skepticism on the crypto assets. Yet, the Wall Street bank continues to build products around crypto and web 3.0.
Also Read: Rug Pull Alert: List Of Altcoins Celsius Network Will Sell On July 1st
Mainstream financial companies have all initially been resistant to cryptocurrencies. However, it is argued that the Wall Street giants would like to have significant share in the crypto market before the United States regulators lay out clear rules for the industry.
Blackrock Vs Bitcoin
Cardano founder Charles Hoskinson criticized the Bitcoiner community’s welcoming of the Blackrock Bitcoin ETF application. This is apparently because Blackrock represents a massive chunk of traditional businesses whose values are not aligned to the vision behind Bitcoin philosophy, which is decentralization. He said,
“Bitcoiners defending Blackrock is all you need to know about their ethics, mental state, and greed.”
Meanwhile, it remains to be seen if and when the U.S. Securities and Exchange Commission (SEC) would take a decision on the Bitcoin ETF application. An approval mean massive inroads to mainstream adoption of the crypto market, considering the wide range of portfolio companies Blackrock manages.
Also Read: Bakkt Delists Cardano, Polygon and Solana on Regulatory Grounds
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump
- Is This Final Bitcoin Price Correction Before US Shutdown Ends, Fed Rate Cuts?
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
