Bitcoin Updates: BlackRock Increases Crypto Holdings as Fraud Scandals Challenge Investor Confidence
- BlackRock deposits $225M BTC/ETH into Coinbase Prime, signaling institutional crypto confidence amid strategic rebalancing. - Coinbase's Q3 revenue jumps 55% to $1.9B, driven by stablecoin growth and Deribit acquisition as it expands institutional services. - BlackRock's $500M fraud triggers $490M ETF outflows, casting doubt on crypto initiatives despite asset accumulation plans. - Coinbase CEO emphasizes stablecoin payments' role, while critics question BlackRock's political ties amid regulatory scrutin
BlackRock Inc. recently transferred $225 million in
Coinbase’s financial report for the third quarter highlighted its strategic shift, showing a 55% year-over-year revenue increase to $1.9 billion and a 34.3% jump in subscription income from stablecoins, reaching $746.7 million, according to
During the third quarter, the company increased its Bitcoin reserves by 2,772 BTC, valued at $299 million, as part of a long-term accumulation strategy, according to
Brian Armstrong, CEO of Coinbase, has stressed the increasing role of stablecoins in payment systems, an area the exchange is targeting with APIs and integrated wallets, according to PYMNTS. On the other hand, some critics claim BlackRock’s crypto moves may be politically motivated, but Coinbase’s chief policy officer has dismissed these allegations as “ridiculous,” pointing to bipartisan industry PAC donations and standard inaugural contributions, as covered by
The ongoing interaction between institutional interest and regulatory oversight continues to influence the market. While Coinbase’s third-quarter earnings surpassed analyst expectations, the fraud at BlackRock has heightened demands for stricter regulation in private credit and crypto-related assets. For individual investors, these events underscore both the opportunities and risks present in the fast-changing digital asset space.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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