BlackRock, the world’s leading asset management company, reportedly spent $1 billion on bitcoins just on the eve of the sharp decline of the BTC price. The latter was triggered by the Fed Chair’s announcement of the change of pace for rates cut. The announcement was accompanied by statements that dropped a shadow on the strategic…
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Ethena Labs has introduced a new stablecoin, USDtb, backed by BlackRock’s USD Institutional Digital Liquidity Fund. USDtb operates similarly to other popular fiat-backed stablecoins like USD Coin usdc0.06%USDC and Tether usdt0.14%Tether, with reserves held in cash or cash-equivalent assets at a 1:1 ratio. Unlike most stablecoins, USDtb distinguishes itself by allocating 90% of its reserves to BlackRock’s BUIDL fund. This…
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BlackRock and Citadel Securities have invested in a group aiming to disrupt the U.S. stock exchange market. Texas Stock Exchange chairman and CEO James H. Lee boasts a warchest of $120 million from over 24 investors to potentially launch an exchange to rival NYSE and Nasdaq. Among the consortium of investors includes the world’s largest…
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The spot Bitcoin ETF sector is again in the red zone, experiencing a capital outflow of $217 million on April 25. According to SoSo Value, funds did not move in five ETFs, including BlackRock’s iShares Bitcoin Trust ETF (IBIT). This is the second day in a row that the BlackRock fund has not recorded an…
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The BlackRock CEO isn’t worried about the U.S. Securities and Exchange classifying Ethereum’s ether as a security. BlackRock CEO Larry Fink said an ether ETF would still be possible even if the U.S. Securities and Exchange Commission designates the cryptocurrency as a security, which would increase the regulatory scrutiny around the second-largest digital asset. Asked…
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Robert Mitchnick, the asset manager’s head of digital assets, said that there’s a misconception that BlackRock will have a “long tail” of other crypto services. The asset management giant BlackRock’s (BLK) clients have “a little bit” interest in Ethereum, compared to bitcoin (BTC), head of digital assets Robert Mitchnick said. “I can say that for our…
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